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How many Hp Inquiries are to many?

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Anonymous
Not applicable

How many Hp Inquiries are to many?

I realize the difference in SP and HP INQ's , for those who maybe don't HP normally will affect ones score while SP will not.
With that being said , is there anything on the magic number of HP's, before you really start to see a deragator affect on scoring models?
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lg8302ch
Senior Contributor

Re: How many Hp Inquiries are to many?

That really depends on each profile. A loss of like 3-5 points is about average but the hit for a new account and the cut of the AAoA can be a whole lot more.

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Anonymous
Not applicable

Re: How many Hp Inquiries are to many?

Thanks that is about what I figured ,but just wanted some confirmation from some one more knowledgeable than my self on   scoring .

Message 3 of 5
Anonymous
Not applicable

Re: How many Hp Inquiries are to many?

It also depends where they hit. What matters for your score vs a particular bureau is how many INQ's you have at THAT bureau. Some lenders hit multiple bureaus but somme only hit one, and different lenders hit different ones. 

 

So 9 INQ's that all hit TU is different than 3 at each bureau, for example.

Message 4 of 5
takeshi74
Senior Contributor

Re: How many Hp Inquiries are to many?


@lg8302ch wrote:

That really depends on each profile.


This.  In other words, two people with the same number of inquiries can see entirely different results.  A thinner/poor profile will generally be able to handle fewer inquiries than a thicker profile in good shape.

 

It's never just a matter of the action itself.  It always depends on one's credit profile and how the action factors in.

 

People obsess over inquiries and given that many here are building/rebuilding that's not a surprise as they tend to have a bigger impact for such people.  That said, inquiries have a relatively small impact.  People really need to be concerned about all the factors -- not just one.

http://www.myfico.com/crediteducation/whatsinyourscore.aspx

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