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Frequent Contributor
bobebob
Posts: 260
Registered: ‎08-14-2011
0

Re: can applying for a credit card raise a credit score?


MustangSaluki wrote:

Yes a hard inquiry can sometimes raise your score. It depends on which bucket you are for your range of scores. If there are no inquiries reporting, probably because you stopped seeking credit due to derogs, this snapshot could be different from your peers in the same score bucket who have been active in applying for credit over a one yeard period, and expected to be doing so. 

 

My score behaved the same way too over a 2 month period.


I was at 1 INQ prior to apping for DCU's Visa Platinum Card.

 

The HP didn't change my SW FICO, it stayed the same at 806 before and after the HP hit.

 

I'm still waiting to see what the new trade line does to my score.

bobebob || Nov: My FICO SW EQ(Upgraded Version) = 822 ||Sept: Walmart TU Fico=838Goal = FICO's>800 || In my wallet: CostcoAmEx(20k), DCU Visa Platinum (10k), BoA Visa Signature (17.1k), Walmart Discover (7.5k), AmEx Corporate (5k). All PIF every month.
Moderator
Revelate
Posts: 9,731
Registered: ‎12-30-2011
0

Re: can applying for a credit card raise a credit score?


MustangSaluki wrote:

Yes a hard inquiry can sometimes raise your score. It depends on which bucket you are for your range of scores. If there are no inquiries reporting, probably because you stopped seeking credit due to derogs, this snapshot could be different from your peers in the same score bucket who have been active in applying for credit over a one yeard period, and expected to be doing so. 

 

My score behaved the same way too over a 2 month period.


TBH an inquiry is a straight derogatory under FICO models; FAKO may be different.  While at times it is zero damage initially (may factor later as other inquiries drop off, the number of inquiries and how they count against one's FICO isn't linear); however, it is never a positive.

 

An additional tradeline can at times be a straight positive (mix of credit function, and possibly some other more subtle details we don't know); however, an inquiry is never a positive and it's almost certain it was something else changing which admittedly is incredibly difficult to quantify.

 

 

Starting Score: EQ 561, TU 567, EX 599* (12/30/11, EX lender pull 12/29/11)
Current Score: EQ 04 673, EQ 8 707, TU 720, EX 702* (09/02/14, EX older)
Goal Score: 700 on EQ '04 (01/01/15)


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