EQ inquiries..ouch!

[Caliche]

My Equifax inquires increased from 3 up to 4 yesterday resulting in a scrore watch alert and a 7 point decrease.  Seems a little extreme to me. 

[Anonymous]

Awwww! 

If it makes it all better, you'll sometimes see score hits after several inquiries - rather than for each individual inquiry.

On EQ, when I had my first inquiry - no score hit.

Second inquiry - no score hit.

Third inquiry - minus 5 FICO points.

Fourth and fifth inquiry - no score hit.

Sixth inquiry - minus 7 FICO points

So, for newbie silly me, that time, I lost 12 FICO points for six inquiries (within just under six months - don't do that!!!*).  But they didn't come in neatly at two points per inquiry.  *The damage to AAofA and new account dings were more damaging than the inquiries, btw.

I think a nice root beer float could make things feel much better.  But maybe that's just me. 

And it's seemingly different for everyone; and different for one person at different times.  As always, its one amongst many mobile data points on your CR.

[Anonymous]

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@Caliche wrote:

My Equifax inquires increased from 3 up to 4 yesterday resulting in a scrore watch alert and a 7 point decrease.  Seems a little extreme to me. 

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I saw a model on some website, might have been EX, that shows you when an inquiry will affect your score. And I believe it's 1-3 (the third one gets you a ding) then 4-6 (the sixth one gets you a ding) and then 7-9 (ninth one gets you a ding). And then after that, I don't believe it affects your score, but I could be wrong. But the reason why it is that way is because it puts you into a new "risk" level. It's kind of crazy...but it is what it is.

[TangMeister]

Back in early 2009, I lost 14 pts for 4 hard inqs on EQ, with the 4th one dropping me 7 points alone.  My FICO was 790 at the time.  The higher your FICO, the more one seems to be punished for multiple hard inqs.