Fico Score decrease because of inquiries????

[bewildered]

My score just dropped a whopping 84 points, the alert I rec'd indicated that an inquiry was done by "Facutal Data", I assume they meant Factual.  Has anyone experienced this before????  Or have heard of this organization inquiring.  I am going for a mortgage, but I would not expect a drop in my score.  Any insight is appreciated.

[antredd67]

         When I shopped for a mortgage, I have 4 companies pull my reports within a two week period.  It didn't hurt or pull down my scores at all, since they all counted as one pull.  When we shop for a mortgage loan or car loan, as long as we have the companies run our credit within a two week or 14 day period we don't get dinged for t hose multiple inquiries.

Question how many times have you applied for credit this year? If  you have multiple inquiries, your score will drop, mine dropped a max of 7 points when I applied for new credit. Also, check your CR for any possible new errors reporting on your report at the same time.  For me it never failed when I was about to purchase a new home or refi, some negative item would get added to my credit report.

[Anonymous]

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bewildered wrote:

My score just dropped a whopping 84 points, the alert I rec'd indicated that an inquiry was done by "Facutal Data", I assume they meant Factual.  Has anyone experienced this before????  Or have heard of this organization inquiring.  I am going for a mortgage, but I would not expect a drop in my score.  Any insight is appreciated.

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Factual Data is a major source for credit reports in the mortgage industry.  Your FICO score did not drop by 84 points due to an inquiry.  With that signifcant of a drop I would pull the complete report to be sure that there are no new collections or late payments being reportesd on your account.  Or did you happen to max out all your cards recently?

Pull a report, this is nothing to fool around with

[Anonymous]

A single inquiry would not drop your FICO score 84 points. I doubt 15 inquiries would drop your FICO score 84 points. There's definitely something else afoot.

[Tink]

I am trying to understand what counts as a hard pull. I have 4 inquiries on my TU report from when I was shopping for a mortgage. This was all done with-in a 2-week period. That said, are these supposed to still show up as 4 inquiries? I wrote to TU and they said there's nothing they can do and that if the inquiries are legit, they must remain for 2 yrs. I don't think it reduced my credit score. I am just under the imression that they would only show as one inquiry. I'm terribly confused.

[MidnightVoice]

It will show as 4 inqs, but it should only count against your score as I.