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The short answer is yes. A hard inquiry will hurt your score, if by hurt you mean will it lower it. However, inquiries are only 10% of your total FICO and 1 inquiry will not dictate a 10% effect. Inquiries only affect your FICO for 12 months.
New accounts will hurt your score much more than an inquiry. If you get pulled hard, then CLI, this will be minimal impact. If you apply for new account, get hard pull plus new account, this will affect your score much more so and for a longer period because it has affected your AAoA and newest account.
thank you all for the timely response, one more questions for y' all... in your opinion would it 1) benefit me be asking all cards or just 1-3 of em for an increase, 2) based on my scores do ya think i have a chance
chase and us bank were opened in 12/06 cap1 in 06/07 and hsbc in 06/08
That greatly depends on the hard or soft inquiry issue.
CapOne is soft. US Bank I don't know. Chase I have heard usually soft. Hopefully others with specific experience in each ccc can reply.
under 5% only baddies are 2 small collections that have been paid
If your UTL is under 5% and you have two paid derogs, then you have to wonder why you score isn't higher... but then thing to do best obtain CLI success is to ask for the CLI on the card in which you have had 6 consecutive months of On-time payments. HSBC will grant you that... that was their previously policy before all the tightening...
You should also be asking for APR reduction if you haven't missed any payments in 6 months.
PayYouNever wrote:
If your UTL is under 5% and you have two paid derogs, then you have to wonder why you score isn't higher... but then thing to do best obtain CLI success is to ask for the CLI on the card in which you have had 6 consecutive months of On-time payments. HSBC will grant you that... that was their previously policy before all the tightening...
You should also be asking for APR reduction if you haven't missed any payments in 6 months.