Understanding FICO® Scoring

[jenrhi]

Why would applying for a mortgage make myfico.com score go up a point?? I though inquires would decrease it not increase?

[llecs]

Relying on SW alerts?

[pizzadude]

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jenrhi wrote:

Why would applying for a mortgage make myfico.com score go up a point?? I though inquires would decrease it not increase?

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There are other things on your report that changed;  this is what caused your score to increase.

[jenrhi]

After reading more, I gather SW alerts are not the most dependable!

[llecs]

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jenrhi wrote:

After reading more, I gather SW alerts are not the most dependable!

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They can be...first let me say that I once got a SW alert for 20 points because I added an inquiry. The inquiry didn't give me 20, but it was something else changing on my report (a dropped baddie) that SW won't alert me to.

Remember, your score is monitored every week or so for changes. If there was an event that causes a credit alert, like an added inquiry, then SW will update you to the credit alert with a score alert if your score changed inside the weekly monitoring. Many will associate the credit change with the score change (X caused Y), but it's other things going on in your EQ report that SW won't ever alert you to that caused the score change in many cases (e.g. dropped baddies, dropped lates, improved util, etc.).

[Fresh101]

^^^ makes sense