Experian score increase after inquiry??

Anonymous · ‎02-26-2015

The strangest thing happened this morning. I applied for a Capital One card yesterday and got approved. I was expecting my scores to take a hit but this morning I received a email from MyFico saying an inquiry was added, wondering how much it was gonna hurt I checked and wow I actually jumped 16 points on Experian after that hard pull (full social). What are the chances of that happening or is it likely to go back down again? Anyone else with a similar story?

Anonymous · ‎02-26-2015

@Anonymous wrote:
The strangest thing happened this morning. I applied for a Capital One card yesterday and got approved. I was expecting my scores to take a hit but this morning I received a email from MyFico saying an inquiry was added, wondering how much it was gonna hurt I checked and wow I actually jumped 16 points on Experian after that hard pull (full social). What are the chances of that happening or is it likely to go back down again? Anyone else with a similar story?

An inquiry will never cause your score to rise but often you will receive an alert from MyFico that seems inconsistent with common sense. Here's what causes this. There are hundreds if not thousands of factors in the FICO scoring algorithm that cases score changes. Your score is not staticand is constantly changing based on these factors that are proprietary to FICO. Because there are so many score changes we would be bombarded with alerts every time a score changes. Therefore MyFico has limited the alerts to certain 'events' such as an inquiry. Thus you might receive an alert for a score change that is inconsistent with the reason listed. In your case, the inquiry caused the alert tha your score went up. In reality ypthe score change had already occurred based on factors that don't generate an alert. I have included a link that shows those events that cause an alert.

Hope this helps,

http://myfico.custhelp.com/app/answers/detail/a_id/463/kw/3-bureau%20monitoring/session/L3RpbWUvMTQxMjI5OTE5OC9zaWQvMWxBTVdVM20%3D

Anonymous · ‎02-26-2015

That makes so much more sense, thanks for the reply.

Anonymous · ‎02-26-2015

@Anonymous wrote:
That makes so much more sense, thanks for the reply.

You're very welcome