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Question about hard pulls and credit scores

Valued Contributor

Question about hard pulls and credit scores

When a lender or cc company pulls your CR via hard pull it lowers your score. Does the lowered score show up in their number? For example, myFICO EQ score is 625. Mortgage lender pulls my EQ CR and that hard inquiry lowers my credit score say 10 pts. Will the lender's score be 625 or 615? If 615, I need to make sure I have some cushion before I refi, correct?


Starting Score: EQ 551 TU 548 CK 607on 6/8/12, EX 542(AMEX pull 3/4/12)
Current Score: EQ 710 TU 727 EX 704 CK 719(FAKO-EX 697, EQ 697, TU 697)
Goal Score: 750

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Message 1 of 13
12 REPLIES
Super Contributor

Re: Question about hard pulls and credit scores

IMHO you would get a 625 as the current pull would not show up.

01/23/2018: FICO 829 EQ 827 TU 831 EX
Message 2 of 13
Super Contributor

Re: Question about hard pulls and credit scores


marty56 wrote:

IMHO you would get a 625 as the current pull would not show up.


+1. Any FICO score ding from an inquiry occurs after the report/score is provided.
March2010 FICO® ~ 695 TU, 653 EQ, 697 EX
Message 3 of 13
Frequent Contributor

Re: Question about hard pulls and credit scores

Correct your score would only be lower after the fact not on the actual report that you just pulled, even on that I would think that it would take at least a few days to show up as a ding if not longer!


Starting Score: EQ FICO 777
Current Score: EQ FICO 803
Goal Score: EQ FICO 810


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Message 4 of 13
Valued Contributor

Re: Question about hard pulls and credit scores

Im pretty sure the pull will ding you right then and there lowering you 10 points if that what the INQ costs.

 

Otherwise when your shopping for a mortgage, the next dude that pulls would get a lower score.

 

So if you have a 625, the pull drops you 10 points your mortgage guys see a 615 and so does the next mortgage guy while all the pulls count as one during that 15 - 45 day period.

 

Message 5 of 13
Super Contributor

Re: Question about hard pulls and credit scores

 

When a creditor gets your report & score the FICO ding for the inquiry happens after they see the score & report.     Any subsequent pulls would reflect the inquiry.

March2010 FICO® ~ 695 TU, 653 EQ, 697 EX
Message 6 of 13
Valued Contributor

Re: Question about hard pulls and credit scores

That makes no sense at all.

 

Then if you are mortgage loan shopping, and you have a second guy pull your credit and his report shows the INQ from the first guy that means he would get a lower score.

Message 7 of 13
Regular Contributor

Re: Question about hard pulls and credit scores


tooleman694 wrote:

That makes no sense at all.

 

Then if you are mortgage loan shopping, and you have a second guy pull your credit and his report shows the INQ from the first guy that means he would get a lower score.


Tooleman, I think what they are saying is you don't get a ding when you have the hard pull done, and if you get another hard pull the same or next day (i've heard 15-45 days) it still wont count as another pull. In example above his score would remain at 625. After the 15-45 days it WOULD count, but only as one hard pull.  Maybe I have this all wrong, FICO gets more confusing the more I try to figure it out!



Starting Score: EQ 609 EX 570 TU 656 March 2012 CH 7 BK 12/08
Current Score: EQ 691 EX 694 TU 713
Goal Score: all 3 700's.
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Message 8 of 13
Valued Contributor

Re: Question about hard pulls and credit scores

So the ding would factor into your score after the 15 to 45 days.

Message 9 of 13
Regular Contributor

Re: Question about hard pulls and credit scores

Thats what I'm getting out of it. might be wrong. The larger quistion to me is where does 15-45 dayscome from?.  Thats quite a spread       Duncan,please let me know if you indeed do get bump if/when you go for it. Good Luck!!



Starting Score: EQ 609 EX 570 TU 656 March 2012 CH 7 BK 12/08
Current Score: EQ 691 EX 694 TU 713
Goal Score: all 3 700's.
Quicksilver $5000 Discover IT $1500 Barclays NFL $1250 Walmart $1500 CL Applied Bank $300 (secured)

Take the FICO Fitness Challenge

In the Garden till 12/14
Message 10 of 13