Fyi in case anyone wanted to know how many points can you lose for inquiries here is my example

[bott6698]

I apped for 3 cards in past few days and all only pulled EX. I show a 9 point loss for the inq so it averaged about 3 points per inq. I always thought it was 1-2pts each but this proved it is not always the case.

[Anonymous]

That sounds about right. A general FICO rule of thumb is that it has a tendency to revert to baseline. In other words, the higher your score, the more a negative item will hurt it. So something that costs you 2 FICO points at 600 might cost you 3 or 4 at 700, and 5 to 10 at 800.

[bott6698]

IC that makes a lot of sense newworld at least in fico world we have to live in lol

[Anonymous]

bott,

I recently applied for and was approved for the Home Depot card.  Lost 11 points on EQ for the INQ.  TL is not yet reporting on any of the bureaus.

[Anonymous]

What cards did you apply for that pulled EX?  That's my best score and I'm just waiting to close on a home before I app for a new card - first app in several years!

[MidnightVoice]

Adding one EQ inq sent me from 783 to 772.

Not for new credit either - renegotiated my Heloc!!

[krdvg]

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@Anonymous wrote:

What cards did you apply for that pulled EX? That's my best score and I'm just waiting to close on a home before I app for a new card - first app in several years!

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AMEX, Discover, BoA Amex mostly pull EX. Citi, Chase might depending upon your location.

[haulingthescoreup]

Also, the damage from inqs varies according to how many you have already. So in my case, with no pre-existing inqs, the first one on each CRA was free or nearly so, then I got whumped for the second, then the third was nothing or minimal.

So, varies by current score, and varies by your existing inq status.


edit to add: and you also will get an initial ding from the account that resulted from the inq, and then you scores start going up with each month's clean history on the new reports. My scores have recovered 20-25 points from their post-app lows on 3/15, even though there were two additional inqs and two more accounts after the low points. (Part of that was paying down a new BT balance, though.)

Message Edited by haulingthescoreup on 04-19-2008 06:47 AM

[unknown_entity]

Yeah, the more you have, the less each additional one hurts.  Inquiries have a minimal affect on scores.  But there are some lenders who are sticklers on inquiries, Citi and B of A come to mind.  I really never worried about inquiries, It's the one thing that's pretty easy to explain away when doing a denial recon.  I was just shopping, is what I tell them...lol.  After all, isn't that what credit cards are all about?  LOL.

[bott6698]

this is really good info.  hauling so after one month of reporting your scores recovered from the new account hit then?

also mind you my scores right now include a major utl of 87 plus so i am thinking even with the new account hits it would counter with better utl especially if i get the hd increase they offered....

ones who strictly pulled ex for me in pa was home depot, best buy/hsbc, macy's, orchard/hsbc