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Buffering and Deduplication of Credit Card Inquiries Research Project

Established Contributor

Re: FICO Will Combine Hard Pulls for Your Next App Spree!


Irish80 wrote:

I'd really like know where you're getting your info from.  Certainly cant be just from your own personal experiences because everyone's credit file is vastly different. 


It has nothing to do with credit files. I mean no offense, but are you familiar with how deduplication works. I did, in fact, discover this from my own personal experiences. I then did a lot of searching. I found an 2000 article from the Mortgage Professor. He was told by someone from Fair Isaac that HPs are frequently miscoded. This leaves doubt as to the purpose of the inquiry. The algorithms give the benefit of doubt to certain types of inquiries.

 

https://iloanhomemortgage.com/do-credit-inquiries-hurt-your-credit-score/

Message 11 of 90
Moderator

Re: FICO Will Combine Hard Pulls for Your Next App Spree!


JLK93 wrote:

Irish80 wrote:

I'm curious on how you are determining that the inquiries are being scored as one.  Just because your scores didn't drop that much?  I'd really like know where you're getting your info from.  Certainly cant be just from your own personal experiences because everyone's credit file is vastly different.

 

Also it is very misleading to suggest to other posters, especially new ones that taking 50 inquiries is only to damage your score a few points.  Won't happen that way especially if new accounts are created and even if all inquiries resulted in declines I don't believe that anyone would see just a few point drop.


5 HPs result in no score drop for 30 days. 31 days later there is a small score drop, reflecting only 1 HP. That is how buffering a deduplication works. I've presented multiple repeated examples.  If you read the charts it is very clear.

 

When HPs are deduplicated they are scored as 1. I've never heard of any limit to the number of inquiries that can be deduplicated. So certainly 50 HPs would likely be deduplicated. I used 50 as an example to explain that this is not about getting multiple cards for 1 HP. It is, however, accurate.


I read the charts and again you're assuming a theory based solely on your experience that from what I have read about FICO scoring of credit card inquiries is just not correct.  Just because  you experience a small score drop from 5 inquiries does not mean that they are being scored as one.  I think you need to provide other information from knowledgable sources to back up your theory.

Message 12 of 90
Moderator

Re: FICO Will Combine Hard Pulls for Your Next App Spree!


JLK93 wrote:

Irish80 wrote:

I'd really like know where you're getting your info from.  Certainly cant be just from your own personal experiences because everyone's credit file is vastly different. 


It has nothing to do with credit files. I mean no offense, but are you familiar with how deduplication works. I did, in fact, discover this from my own personal experiences. I then did a lot of searching. I found an 2000 article from the Mortgage Professor. He was told by someone from Fair Isaac that HPs are frequently miscoded. This leaves doubt as to the purpose of the inquiry. The algorithms give the benefit of doubt to certain types of inquiries.

 

https://iloanhomemortgage.com/do-credit-inquiries-hurt-your-credit-score/


Yes I know how it works and your article does not prove that credit card inquiries are scored as one or even addresses that issue.  Yes it applies to mortgage and auto loan inquiries because it it well known that people are interest rate shopping when trying to buy a home or auto and the intent is not to punish those types of customers.  Someone applying for multiple credit cards in a short period is completely different and that's why credit card inquiries are not scored as one in most cases.

Message 13 of 90
Super Contributor

Re: FICO Will Combine Hard Pulls for Your Next App Spree!

It's is and has been known for years that mortgage and auto loans applied for within a 30 day period can be coded as one HP 

 

However:

This DOES NOT apply to CC's 

Also if not coded correctly during the auto process they'll result in more than one HP as well and there's nothing you can do about it 

It should also be noted as stated above this is a completely YMMV situation for each and every profile and one result has no bearing on the masses Smiley Wink

Before you app think...
Have you done your research of the CC?
Does it fit your spending?
Do you have a plan for the bonus w/o going into debt?
Can you afford the AF?
Do you know the cards benefits? Is it worth the HP?
Message 14 of 90
Established Contributor

Re: FICO Will Combine Hard Pulls for Your Next App Spree!


Irish80 wrote:

 from what I have read about FICO scoring of credit card inquiries is just not correct.  


Why are you assuming that what you've read about FICO scoring of credit card inquiries is correct?

Message 15 of 90
Established Contributor

Re: FICO Will Combine Hard Pulls for Your Next App Spree!


myjourney wrote:

 

This DOES NOT apply to CC's 

 


How do you know?

Message 16 of 90
Super Contributor

Re: FICO Will Combine Hard Pulls for Your Next App Spree!


JLK93 wrote:

myjourney wrote:

 

This DOES NOT apply to CC's 

 


How do you know?


Experience and tons of apps Lol

Not to mention Chase, Amex and Citi have been known in some cases to pull the same CB twice and they not be removed or recorded as 1 HP

 

Edit to add in rare cases Amex and sometimes Chase have merged HP but its not the norm by a long shot 

Before you app think...
Have you done your research of the CC?
Does it fit your spending?
Do you have a plan for the bonus w/o going into debt?
Can you afford the AF?
Do you know the cards benefits? Is it worth the HP?
Message 17 of 90
Established Contributor

Re: FICO Will Combine Hard Pulls for Your Next App Spree!


myjourney wrote:

JLK93 wrote:

myjourney wrote:

 

This DOES NOT apply to CC's 

 


How do you know?


Experience and tons of apps Lol

Not to mention Chase, Amex and Citi have been known in some cases to pull the same CB twice and they not be removed or recorded as 1 HP


I already pointed out that this does not appliy to Case or Citi. I may not apply to Amex. All of my data is from TU and EQ.

Message 18 of 90
Moderator

Re: FICO Will Combine Hard Pulls for Your Next App Spree!


JLK93 wrote:

Irish80 wrote:

 from what I have read about FICO scoring of credit card inquiries is just not correct.  


Why are you assuming that what you've read about FICO scoring of credit card inquiries is correct?


Why are you assuming that it isn't?

 

Don't you think that if your theory was true that it would be well known with various credit card forums/blogs/Reddit?  It's not and as I have said the only basis that you have provided for your theory ( which btw you presented as fact which it clearly isn't) is from your own personal experience.  

Message 19 of 90
Frequent Contributor

Re: FICO Will Combine Hard Pulls for Your Next App Spree!


JLK93 wrote:

Irish80 wrote:

 from what I have read about FICO scoring of credit card inquiries is just not correct.  


Why are you assuming that what you've read about FICO scoring of credit card inquiries is correct?


Why are you assuming that your interpretation of a single credit profile applies universally?

 

Even your own expert disagrees with your conclusion-

"I had a mortgage lender friend make a credit inquiry to obtain my score, then I shopped two card issuers and had my friend inquire again. My score had dropped 13 points. All credit card inquiries are treated as indicators of distress." - from you link above

Message 20 of 90