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Buffering and Deduplication of Credit Card Inquiries Research Project

Frequent Contributor

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


JLK93 wrote:

 

 

         
TU FICO 8850*****850085

 


Might want to fix that typo

Message 21 of 90
Senior Contributor

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

JLK93, I think there are a few things you need to consider here.  One, what is your basis of comparison here for losing 3 points from inquiries?  Have you tested moments where you've pulled your scores right after 1 inquiry hits compared to pulling your scores right after a spree of say 5 inquiries?  Have you ever pushed that number higher to say 10+?  Is it possible that there are different thresholds for different profiles regarding number of inquries that it takes to drop a score?  I think we're all aware that a thinner, younger file is impacted by inquries more than a thick, aged file.  So, perhaps, someone that has a very solid file and 800+ scores across the board may experience an equal score drop from 1 inquiry as they would from say 5 if the range for their profile is 1-5 inquries = 3 point drop.  In this example it doesn't mean that the 5 are lumped together and scored as 1, it means that the impact of 5 inquries on this thick/aged file is equal to the impact of just 1.   

Message 22 of 90
Super Contributor

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

I think Irish's point, which I haven't seen refuted, is key.   Suppose a large number of the inquiries resiult in new accounts (and that is of course the point of a spree).   On probably the vast majority of profiles, 50 new accounts would greatly impact the AAoA, causing a larger score drop (and less so on very old, thick accounts).

 

It is hard to generalize from a single credit profile, at most you can show that something isn't always so (e.g. I have 8 accounts reporting a balance this month and haven't lost any points, but tother people find more than 2 or 3 will drop the score)

Message 23 of 90
Established Contributor

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


longtimelurker wrote:

I think Irish's point, which I haven't seen refuted, is key.   Suppose a large number of the inquiries resiult in new accounts (and that is of course the point of a spree).   On probably the vast majority of profiles, 50 new accounts would greatly impact the AAoA, causing a larger score drop (and less so on very old, thick accounts).

 

It is hard to generalize from a single credit profile, at most you can show that something isn't always so (e.g. I have 8 accounts reporting a balance this month and haven't lost any points, but tother people find more than 2 or 3 will drop the score)


There is nothing to refute. He doesn't have a point. This isn't about new accounts. It is about the deduplication of inquiries.

Message 24 of 90
Moderator

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


JLK93 wrote:

longtimelurker wrote:

I think Irish's point, which I haven't seen refuted, is key.   Suppose a large number of the inquiries resiult in new accounts (and that is of course the point of a spree).   On probably the vast majority of profiles, 50 new accounts would greatly impact the AAoA, causing a larger score drop (and less so on very old, thick accounts).

 

It is hard to generalize from a single credit profile, at most you can show that something isn't always so (e.g. I have 8 accounts reporting a balance this month and haven't lost any points, but tother people find more than 2 or 3 will drop the score)


There is nothing to refute. He doesn't have a point. This isn't about new accounts. It is about the deduplication of inquiries.


Whether you think I have a point or not is irrelevant. You presented something as fact which it clearly isn't and can be very misleading to other posters.  There is zero basis, other than your limited experience, to support your theory.

Message 25 of 90
Established Contributor

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


myjourney wrote:

 

This DOES NOT apply to CC's 

 


Feel free to post your data. I'm looking for all the data I can get.

Message 26 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.  


Feel free to post your own data from your own scores. I am looking for all the data I can get.

Message 27 of 90
Established Contributor

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


Irish80 wrote:

JLK93 wrote:

Irish80 wrote:

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


 

 Don't you think that if your theory was true that it would be well known with various credit card forums/blogs/Reddit?    


That would be extremely unlikely. The fact that no one knew about it seems to prove that point. Most people simply regurgitate information from myFICO.

Message 28 of 90
Moderator

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


JLK93 wrote:

Irish80 wrote:

JLK93 wrote:

Irish80 wrote:

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


 

 Don't you think that if your theory was true that it would be well known with various credit card forums/blogs/Reddit?    


That would be extremely unlikely. The fact that no one knew about it seems to prove that point. Most people simply regurgitate information from myFICO.


I really don't know how to even respond to that.  You can be assured that if FICO counted credit card inquiries as one if they occurred in a short period of time, someone other than yourself would have figured it out long ago regardless of whether MF said so or not.  You're really grasping at straws for a theory that you have zero proof of and I'm 100% confident is incorrect.  If this is what you believe more power to you but we certainly aren't going to go around and tell posters that is the case.

Message 29 of 90
Super Contributor

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


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.


+1

FICO8 EQ 721 TU 772 EX 769 Total revolving credit 500k
Message 30 of 90