-26 points for an inquiry is this right???

[glamchick]

I applies for AT&T phones and was approved.  I received a message from myfico my score went down by -26 points for the AT&T phone inquiry.  I thought they only deducted 2 points for inquiries???

[Chopbrocoli]

By any chance is your credit history less than a yr? I remember when I got a phone from Sprint, I lost about 14 points with a < 1yr credit history. Also by anychance, has you balance on any of your accounts increased?

[jackg]

glamchick,

AT&T takes many aspects of your situation int account before they give you a phone:

1. Age

2. Do you live with Mom & Dad?

3. Do you rent a home or apt? Which?

And it goes on and on as they assess your maturity level. In your case, I would expect to answer a couple dozen questions. I don't have a cell phone and I'm 60 years old, if I wanted to get one I don't believe I would have to go thru the interrogation you do. It's not right so I wish you good luck.

Also, there are not any fixed answers to scoring for anyone. Losing 26 points is very harsh. I would call them and ask what exactly did they do?

Message Edited by jackg on 08-18-2009 12:32 PM

[llecs]

OP, ignore the alert! Other things happened to your EQ report to cause the change. The SW alerts don't tell the full story as to why your score changed. It could have been something else like utilization, an added baddie, rebucketing, etc. I learned then when I was alerted to a 20 point increase via SW because I added an inquiry. When I pulled EQ, it was a baddie coming off that SW didn't pick up on.

ETA...the 2 pts/inquiry is a myth. I was told that too (not from here) when I first started my quest for better credit. Most of the impact would result from having high (750+) scores and having no recent new credit (e.g. 1 yr). It also depends on the scoring bucket you are in and how many inquiries you have already. I just added 4 to EQ and had no score change. My score was in the low 700s, but I had 10-12 others already reporting.

Message Edited by llecs on 08-18-2009 04:42 PM

[creditwherecreditisdue]

---

@jackg wrote:

And it goes on and on as they assess your maturity level. In your case, I would expect to answer a couple dozen questions. I don't have a cell phone and I'm 60 years old, if I wanted to get one I don't believe I would have to go thru the interrogation you do. It's not right so I wish you good luck.

---

Sadly, jackg, you are going to find that if you obtain a mobile phone or move the mobile carrier or your utility companies are going to hit you with credit INQ's. Many have found that merely adding internet service to an existing cable or telephone account has provoked an inquiry. It's a unfortunate fact of life - everybody's inquiry happy these days. There's really not much you can do about it other than know that it will happen and get your other business taken care of before it does.

[Anonymous]

+1

And, I want to add that AT&T will recode this as a soft if you call their corporate offices. I switched my cell carrier to AT&T when I purchased my iPhone, and got hit with an EXP INQ. I called, and they recoded it to soft within minutes.

But, I don't think the INQ cost you 26 points. I think that something else is going on. You need to pull your report and go over it with a fine-toothed comb.

[Anonymous]

I am not quite sure why everyone thinks this is so amazing, because my score dropped 30 points for one inquiry--that was the only thing that was different on my report.  I promise.  I swear.....On a good note, though, it did go back up pretty quickly.

[jackg]

creditwherecreditisdue,

Thank you so much for the heads up.

I do remember about 2 years ago my married Daughter, living ib Calif., blackmailed me thru my wife to sign for the service she was selling. It's called "ACN", and they did a hard pull. Goodbye 4pts. The worlds view seems to be changing when it comes to stability and similiar characteristics. I have to say that I really don't like it. As an example about 4 weeks ago I went into my local branch to request copies of my checking acct. statements covering the previous 24 months. I did this because when Icalled the HQ the attitude I got from them was unbelieveable. "Well, you know MR._ things have changed and we will have to charge $5 per sheet, Fifth 3rd Bank (oops, did I say that, I hate when that happens). I asked if they would consider waiving their policy due to the $ amount I run thru it every year. The gettin friggin rich just off me. "Sorry Mr' _ we can't waive fees.

As you might guess I am looking for a new checking and savings bank, won't rule out a CU as I already belong to NFCU and Pentagon Federal. Got a flyer from Chase 3 days ago offering $250 if you open an account with a direct deposit. It sounds good to me but haven't decided yet

[creditwherecreditisdue]

N.P.

I think the whole INQ thing is outta hand and ought to be curtailed. A lot of these are more of an ID check than anything else and that's just wrong.

I have checking at PenFed. You can use any CU24 ATM w/o charge if you do. Those ATM's are pretty much everywhere and do take deposits. There are other ATM's that are w/d only and other ways to easily make deposits. If you've been a member for a while you won't have any problems. PenFed just like to sweat people for six months until they prove they are real.

That Chase deal is 2x the standard offer and is not bad. Still I have decades of experience dealing with Chase and have never liked them. I just can't seem to pull the trigger on checking with them to get some free money. I had no problem whatsoever doing it with BofA. I think it was less money, too.

[jackg]

creditwherecreditisdue,

Thanks for your input regarding Chase and BofA checking accts. I have the same problem as you about just pulling the trigger.