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Valued Contributor
MrShush
Posts: 1,412
Registered: ‎04-18-2008
0

VZ Wireless INQ = 36 points?!?!

I will spare the details of why I am switching from TMO to VZ, I go to Best Buy Mobile last night to switch carriers. First, I get some nincompoop with a mouth full of marbles on a phone with echo, reverb, and delay trying to verify my identity. After answering the security questions with the garbled rep (who I'm certain if she was sitting next to me I wouldn't understand her), I apparently failed. I have to fax a utility bill.

 

All this to determine if a security deposit is required.

 

I have nearly 200K in open revolving lines, perfect payment history on my cars, newly refi'd mortgage, student loans, CCs, etc. My current FICOs are EX762, TU780, and EQ771. I'm pretty sure I don't need to leave a deposit, but hey, what do I know?!

 

Well, I get an SW update this morning. Alerts for INQ and a score change. I expected a 3-5 point hit for the INQ. Nope. 36 point drop from 771 to 735! This has to be criminal! 36 points for a friggin' cell phone?!?!?

 

Please, if some one can offer any insight, don't hesitate.

Moderator
Shogun
Posts: 12,952
Registered: ‎04-15-2011
0

Re: VZ Wireless INQ = 36 points?!?!

This has to be criminal! 36 points for a friggin' cell phone?!?!?

 

 

 

Sorry, no insight, just agreeing with you.


Starting Score: 504

July 2013 score: EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+

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Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!
Mega Contributor
RobertEG
Posts: 17,456
Registered: ‎03-19-2007
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Re: VZ Wireless INQ = 36 points?!?!

That does look out of line.

Are you sure that there were no other changes in your CR that contriuted to the score change?

Valued Contributor
MrShush
Posts: 1,412
Registered: ‎04-18-2008
0

Re: VZ Wireless INQ = 36 points?!?!

Positive. Nothing at all other than the INQ generated any alert.
Moderator
pizzadude
Posts: 9,035
Registered: ‎01-28-2010
0

Re: VZ Wireless INQ = 36 points?!?!

I'm assuming that your last score was pulled in June, is that right?

Since it's July now has anything happened like an old tradeline dropping?
March2010 FICO® ~ 695 TU, 653 EQ, 697 EX
Moderator
Revelate
Posts: 8,871
Registered: ‎12-30-2011
0

Re: VZ Wireless INQ = 36 points?!?!

[ Edited ]

Not certain, but the higher your score (and 770 is gold plated by anyone's definition) the larger you'll get whacked by any derogatory vs. someone like me in the middlin' 600's currently.

 

If this was your only scorable inquiry, I could see it being a pretty substantial penalty in the short term, but I'm willing to bet it'll fade quickly.

 

Guess I won't be switching my cell phone to VZ even though I know I should (employer discount, better service, Sprint in LA is pretty bad), wonder if I just offer up the security deposit if they can skip the whole inquiry thing.  Stupid theoretical mortgage chances.

Starting Score: EQ 561, TU 567, EX 599* (12/30/11, EX lender pull 12/29/11)
Current Score: EQ 04 679, EQ 8 708, TU 711, EX 702* (07/14/14, EX older)
Goal Score: 700 on EQ '04 (01/01/15)


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Valued Contributor
MrShush
Posts: 1,412
Registered: ‎04-18-2008
0

Re: VZ Wireless INQ = 36 points?!?!


Revelate wrote:

Not certain, but the higher your score (and 770 is gold plated by anyone's definition) the larger you'll get whacked by any derogatory vs. someone like me in the middlin' 600's currently.

 

If this was your only scorable inquiry, I could see it being a pretty substantial penalty in the short term, but I'm willing to bet it'll fade quickly.

 

Guess I won't be switching my cell phone to VZ even though I know I should (employer discount, better service, Sprint in LA is pretty bad), wonder if I just offer up the security deposit if they can skip the whole inquiry thing.  Stupid theoretical mortgage chances.


Just pulled a new report from EQ--i have 3 free, sweet--anyway, the ONLY INQ on EQ is this one from VZ wireless.

 

I'm still going to go through with the switch and God help them if they ask me for a deposit.

 

I would've stayed with T-Mobile but they've been on the decline, and rapidly for the last couple of years and the reception is dodgy when I'm out West.

 

But I digress. Best Buy and VZ are on my hate list now. I'm not even a customer of Verizon and I'm already dissatisfied. I would rather buy another house and a negotiate teh prices of 6 cars than have to switch utilities!

Valued Contributor
MrShush
Posts: 1,412
Registered: ‎04-18-2008
0

Re: VZ Wireless INQ = 36 points?!?!

Another score watch another inquiry another score drop from 735 to 724!!!!! I am absolutely livid!!!! How on earth do I go from 771 to 724 for a farging cell phone??????
Established Contributor
CashOnDelivery
Posts: 502
Registered: ‎04-17-2013
0

Re: VZ Wireless INQ = 36 points?!?!


MrShush wrote:
Another score watch another inquiry another score drop from 735 to 724!!!!! I am absolutely livid!!!! How on earth do I go from 771 to 724 for a farging cell phone??????

Something doesn't seem right. If the FICO scoring range is 350-850 then that's a 500 point range. Inquiries are 10%, so that means there is a 50 point range for inquiries. So for 2 inq so far, you already lost a total of 47 points. Has anyone ever lost 47 points for just 2 inq?


2010: 475 EQ 2011: 503 EQ 2012: 600 EQ2013:632 EQ
Starting Score: 634 EQ-3/13/13
Current Score: 706 EQ-8/29/13 703 EX-7/12/13 705 TU-8/9/13
Goal Score: 700

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Valued Contributor
MrShush
Posts: 1,412
Registered: ‎04-18-2008
0

Re: VZ Wireless INQ = 36 points?!?!


CashOnDelivery wrote:

MrShush wrote:
Another score watch another inquiry another score drop from 735 to 724!!!!! I am absolutely livid!!!! How on earth do I go from 771 to 724 for a farging cell phone??????

Something doesn't seem right. If the FICO scoring range is 350-850 then that's a 500 point range. Inquiries are 10%, so that means there is a 50 point range for inquiries. So for 2 inq so far, you already lost a total of 47 points. Has anyone ever lost 47 points for just 2 inq?


I called Verizon and they told me that to dispute the inquiries because something wasn't right with the coding and the implications that they had on my score was something with EQ rather than VZ.

 

It couldn't be possible that going from 0 to 2 inquiries would be this damaging?


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