DCU HardPull Questions

[Anonymous]

Hello all,

Just a quick question. I am interested in applying for DCU however I am heavily concerned of their hard pulls. I saw an old post a while back here stating that it dropped her credit by 41points. Can anyone confirm this ? I am currently interested in applying with them but would hate to see my credit drop heavily because of their hard pulls.

Thanks.

[pizzadude]

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@Anonymous wrote:

Hello all,

Just a quick question. I am interested in applying for DCU however I am heavily concerned of their hard pulls. I saw an old post a while back here stating that it dropped her credit by 41points. Can anyone confirm this ? I am currently interested in applying with them but would hate to see my credit drop heavily because of their hard pulls.

Thanks.

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I'd be surprised if a single inquiry dropped a FICO score 41 points, inquiry damage should be much less than that.   Also your score wouldn't reflect the score hit until after they pulled your reports / FICO score, so the effect wouldn't be seen by them anyway.

[Anonymous]

Awesome! I figured just wanted to ask as I am a newbie at this. I am looking at possibly applying with them in  Mid September as they will not be the only ones I will be applying for and wish to do it within a week period so I can count them all as one hit. Thanks!

[Anonymous]

I just applied for a savings account with them and according to Myfico becuase of their SPECIFIC inquiry my credit dropped 56 points. Huge mistake make on my part just for a higher interest rate on the first $500

[Ragelog]

My Fico score went up by 1 when myfico.com reported the inquiries from DCU. 41 point drop is something else posting around the same time.

[pizzadude]

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@Anonymous wrote:

I just applied for a savings account with them and according to Myfico becuase of their SPECIFIC inquiry my credit dropped 56 points. Huge mistake make on my part just for a higher interest rate on the first $500

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Something else must have changed, like utilization, CC balances....

[Bluedog23]

You may want to take a look at the forum "understanding Fico scoring". It may help ( or not) you understand some of the intricacies of Fico scoring. It can be bizarre. Can't really compare what happens from one person to another. For me I started the car shopping with 770 EQ FICO. Took two pulls from DCU and then the opening of new car loan. Only dropped to 756. Hopefully that will rebound soon as I now have an installment loan whereas before I had none. If it does, great, if not, I can live with it. You can't really know what will happen until you try, unfortunately.

[Anonymous]

I definitly have to look into a little further, have a new account but didnt seem to report yet and the score itself shows as a decrease becuase of the inquiry.

[Anonymous]

I had multiple new accounts, including 2 from DCU (credit card auto loan). Also, multiple new inquiries. My EQ score dropped 11 points , EX not at all and the same for TU. Guess it varies person to person but I can't see how you'd lose 40+ points. I'd be pissed!

[Anonymous]

No Lates or Negs at all either