I just applied for a mortgage loan today. I was denied because I need more credit history, and was advised to open up two more lines of credit. I'm worried about the inquiries. I now will have 2 on my credit report from the credit card I have and the mortgage officer pulling my report.
From my understanding inquiries made within 14 days of each other will count as 1 inquiry. Does this only count if its the same type of inquiry? For example two car loan companies, or two bank credit cards? Or say if I go get myself another unsecured credit card line of credit tomorrow, and a secured credit card line within a 14 day period, will those two and the mortgage count as 1 inquiry?
Added (1). And as a bonus to guarantee best answer, please tell me how I can get two more lines of credit in that 14 day period. I have a five month history of a bankamericard cash rewards card and that is all. I need two more lines for a mortgage.
Added (2). bdancer222, while some of your information is correct, I can point out multiple things that are incorrect in your answer, so I can't rely on any of it. Sources of where you got your info would be nice. And please all future answer's just answer the question at hand. Obviously I have been advised by a loan officer who believes in six months it is possible for me to get a loan, so I'm going to trust the expert here, whether he's right or wrong is what I would like to determine.
Read more: How many hard inquiries will this be on my credit report?
