topic Re: HP on your credit in Understanding FICO® Scoring

HP on your credit

pdog661 — Tue, 08 Jan 2013 22:29:13 GMT

Hi,

Does anyone know the metric used to determine how much effect hard pulls have on your score as they age?

IE does a HP that is 9 months have the same effect on your score as a HP that is 1 month old?

Thanks

Re: HP on your credit

namvet — Tue, 08 Jan 2013 22:40:48 GMT

As HPs age they have a smaller impact on your credit score. Most damage is done during the first 6 months, less during the 2nd 6 month period and no effect in the third 6 month period.

Re: HP on your credit

pdog661 — Tue, 08 Jan 2013 22:42:50 GMT

Thank you.

Re: HP on your credit

cleansheet — Mon, 14 Jan 2013 01:44:28 GMT

There is also an effect from length of credit history, at least that was the effect of some experimenting I did with the score simulator. Having a short history means the HP has much more effect than having a long history, it will both have more negative at the start, and will age more slowly.