cancel
Showing results for 
Search instead for 
Did you mean: 

1 --> 2 scoreable inquiries = 7 pt EQ drop

Senior Contributor

1 --> 2 scoreable inquiries = 7 pt EQ drop

Just a data point I'd like to add to the archives here.  I went from 1 scoreable inquiry (6 months old) on EQ the other day to 2 and that second inquiry dropped my score 7 points.  Score change was from 838 to 831.  Thick/aged file. 

 

I know there's been differing opinions as to whether or not inquiries are "binned" in terms of scoring.  If so, most believed that 1-2 inquiries were "binned" together.  My data point shows that with EQ anyway that this is not the case, as if 1-2 inquiries were binned together I would not have experienced a score drop.

Message 1 of 18
17 REPLIES
Valued Contributor

Re: 1 --> 2 scoreable inquiries = 7 pt EQ drop

BBS - I think inquiry bins exist but, suspect 0 and 1 are likely binned together. I tested 0 => 1 on multiple occassions. My speculation is 2-3 might be the next bin. However, I have not had more than 1 inquiry under 12 months at the same time and therefore don't have any 1st hand data on that.

 

I went from 0 to 1 a couple times on EQ and once on TU. None of the inquiries were associated with new accounts - so that avoids potential confounding. My Fico 8 scores did not drop when the inquiry was added nor did my Fico 04 scores. Thus, my conclusion that 0 and 1 are in the same bin for Fico.

 

Side note: VS3 looks at inquiries for 2 years. My VS3 score takes a 3 point drop going from 0 to 1 inquiry. This happened with EQ and TU. I did not see a drop going from 1 to 2 on EQ VS3. When my last inquiry dropped off EQ I gained points back.

FWIW - CK recently updated their 3rd party inquiry rating graphic and it appears to better reflect how VS3 may bin inquiries.

Fico 8: .......EQ 850 TU 850 EX 850 (3/2017)
Fico 9: .......EQ 850 TU 850 EX 850 (3/2017)
Fico 4 .....:. EQ 804 TU 823 EX 830 (3/2017) EX Fico 98: 839 (3/2017)
VS 3.0:...... EQ 832 TU 832 EX 832 (3/2017)
Fico 8 BC:. EQ 887 TU 899 EX 900 (3/2017)
CBIS: ........EQ LN Auto 940 EQ LN Home 870 TU Auto 902 TU Home 950 (4/2017)
Message 2 of 18
Senior Contributor

Re: 1 --> 2 scoreable inquiries = 7 pt EQ drop

Thanks for the reply TT.  If 0-1 are binned together, in 6 months when the first of my two inquiries falls off I should see a gain on EQ.  The gain would be anywhere from 1-7 points, depending on if there's any diluting of the new inquiry over the first 6 months.  I'll do a $1 CCT trial before/after in 6 months and see what happens.  If I had a reason to take another EQ HP right now I would for the sake of testing, as adding a third would then result in no further score drop if 2-3 are binned together. 

 

My VS 3.0 EQ score dropped 2 points from the EQ HP.

 

 

 

 

Message 3 of 18
Valued Contributor

Re: 1 --> 2 scoreable inquiries = 7 pt EQ drop

BBS,

Based on another thread I understand your most recent inquiry relates to a CLI request (not new credit) - so effectively isolated. Is your other EQ inquiry that will be aging past 1 year in a few months related to a new account?

 

P.S. When I went from 1 to 2 inquiries on EQ, my earlier inquiry had already passed the 1 year mark before the 2nd one showed up. The 2nd one (from PenFed) was not authorized and they had EQ re-class it as a SP after I disputed it - that took 3 months. When I dropped back to 1 on EQ (over 1 year age but less than 2 years) no change in VS3 score. When the inquiry aged past 2 years I realized a 2 or 3 point boost in EQ score.

 

The cool thing about VS3 is when my profiles were the same on all three CRA reports (had about 9 months of no inquiries on any CRA) - My scores were identical across all 3 CRAs. Then when I changed # cards reporting and/or UT% all scores shifted in unison by the exact same number of points.

 

Unfortunately, due to a CLI request that turned out to be a HP I now have 1 inquiry on TU. I am thinking about asking for a CLI on another card that is an EQ HP to see if my TU and EQ scores line back up with EX remaining 2 to 3 points higher. I will report back on impact if I proceed with the CLI request and take an HP.

 

Fico 8: .......EQ 850 TU 850 EX 850 (3/2017)
Fico 9: .......EQ 850 TU 850 EX 850 (3/2017)
Fico 4 .....:. EQ 804 TU 823 EX 830 (3/2017) EX Fico 98: 839 (3/2017)
VS 3.0:...... EQ 832 TU 832 EX 832 (3/2017)
Fico 8 BC:. EQ 887 TU 899 EX 900 (3/2017)
CBIS: ........EQ LN Auto 940 EQ LN Home 870 TU Auto 902 TU Home 950 (4/2017)
Message 4 of 18
Valued Contributor

Re: 1 --> 2 scoreable inquiries = 7 pt EQ drop

The bins I've personally tested across maybe 30 different SSN profiles are 0, 1, 2, 3-5, 6+.  Seems pretty consistent but of course there are always weird outliers.

 

The problem is the aging between 6-12 months that makes it very tough to consider, as well as inquiry merging for common credit seeking purposes in a short time frame.

FICO8FICO8Visit my posts:
03/1712/17My 11 Rules to Credit RebuildingFree FICO Scores!
550EX
570TU
559EQ
710EX
701TU
734EQ
FICO alert: why did my credit score drop???
Message 5 of 18
Senior Contributor

Re: 1 --> 2 scoreable inquiries = 7 pt EQ drop


Thomas_Thumb wrote:

BBS,

Based on another thread I understand your most recent inquiry relates to a CLI request (not new credit) - so effectively isolated. Is your other EQ inquiry that will be aging past 1 year in a few months related to a new account?


 


Yes, the other is realated to a new account.  The inquiry was on 5/2 and the account was opened on 5/2, so I believe on 5/1 the account will reach 1 year of age.  In theory, if I pull my 3B report/scores from CCT on 5/1, only the "new account" will have reached 1 year, which could cause a slight score increase for me.  If I were able to pull my scores again on 5/2, the inquiry related to that account would be unscoreable, so I'd be able to isolate my score increase based on just the inquiry.  Is my thought process correct here?

Message 6 of 18
Valued Contributor

Re: 1 --> 2 scoreable inquiries = 7 pt EQ drop

I just went from zero to 1 inquiry across the board with no loss of points 4 days ago.  I was going for a refi but changed my mind.  

FICO 08
TU 839 11/11/17
EX 833 11/11/17
EQ 837 11/12/17
(NASA 30K) ( Amex 38.6k ) ( Freedom 10.6K ) ( US Bank Cash+ 20k, LOC 15k ) Winners never quit, and quitters never win
last app 5/15
Message 7 of 18
Highlighted
Valued Contributor

Re: 1 --> 2 scoreable inquiries = 7 pt EQ drop


Imhotrodcrazy wrote:

I just went from zero to 1 inquiry across the board with no loss of points 4 days ago.  I was going for a refi but changed my mind.  


Thanks for the data point. One thing to note when trying to evaluate effect of adding an inquiry is the time buffer between inquiry reporting and the inquiry being factored into score. Certain types of inquiries are buffered while other are not. In your case, you may see a delayed impact 30 days post INQ. See below paste:

 

Fico 08 inquiry buffer.jpg

 

Fico 8: .......EQ 850 TU 850 EX 850 (3/2017)
Fico 9: .......EQ 850 TU 850 EX 850 (3/2017)
Fico 4 .....:. EQ 804 TU 823 EX 830 (3/2017) EX Fico 98: 839 (3/2017)
VS 3.0:...... EQ 832 TU 832 EX 832 (3/2017)
Fico 8 BC:. EQ 887 TU 899 EX 900 (3/2017)
CBIS: ........EQ LN Auto 940 EQ LN Home 870 TU Auto 902 TU Home 950 (4/2017)
Message 8 of 18
Established Member

Re: 1 --> 2 scoreable inquiries = 7 pt EQ drop

Hi all,

Should I expect a slight increase when I go from 10 scorables to 4 next month in Experian?

Message 9 of 18
Senior Contributor

Re: 1 --> 2 scoreable inquiries = 7 pt EQ drop


Petionville wrote:

Hi all,

Should I expect a slight increase when I go from 10 scorables to 4 next month in Experian?


Yes, as there is no way that 4 and 10 would be binned together.  Depending on your profile, I'd guess maybe a 7-12 point gain.

Message 10 of 18