Credit Inquiry had zero effect on EQ Fico

[pakman92]

My wife applied and was granted a Amex Costco card.  I was concerned that it would bring her score down a bit.  But, it appears to have had 0 effect.  This was a only recent credit inquiry on her report.  So, maybe having a single inquiry doesn't really matter?

While her report showed the inquiry, the new account has not been reported yet.  I guess it should effect the score in some way.  Bringing down AAoA, but probably lowering her util due to larger aggregate CL.

It's kind of interesting to try to see what kinds of thinigs affect the score and in what way.  

[atarvuzdar]

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@pakman92 wrote:

My wife applied and was granted a Amex Costco card.  I was concerned that it would bring her score down a bit.  But, it appears to have had 0 effect.  This was a only recent credit inquiry on her report.  So, maybe having a single inquiry doesn't really matter?

While her report showed the inquiry, the new account has not been reported yet.  I guess it should effect the score in some way.  Bringing down AAoA, but probably lowering her util due to larger aggregate CL.

It's kind of interesting to try to see what kinds of thinigs affect the score and in what way.  

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Agreed, it is interesting! The last two inquiries I got on EQ didn't affect my score according to Score Watch, either. But the inquiry before those did bump me down 10 points. I'm guessing there may be thresholds at which point the negative impact is assessed.

Good luck!

[Anonymous]

Seemingly, inquiries impact in groups.  It's definitely a YMMV thing, but it's rare for folks to see a FICO impact for each individual inquiry.

Thus (did I really write "thus"?), one person might see no FICO score impact for 1-2 inquiries, a small FICO impact for 3-5 inquiries (which would show up on the third inquiry), and the next FICO impact for 7-8 inquiries.  The guy sitting next to them might see no FICO score impact for 1 inquiry, a small FICO impact for 2-4 inquiries..........etc.

So, although it varies with each person - depending on what else is on your CR, FICO score changes for inquiries tend to arrive in groups rather than for individual inquiries.

I think that was clear as mud.  My first clue that it's too early for me to post is when I start using words like "thus".    And "seemingly".  

[mtrsprt]

In November.  I had 7 hard inquiries go on my report.  I also had 2 new accounts added.  My score dropped about 35 points.   Last week, I had 4 more inquires (Total now is 14 within the past 9 months), and the next day after those 4 new inquiries were added, my score jumped 10 points, and then 6 more points the next day.  Go figure.  I do not think inquiries are as bad as people think in terms of scoring.  To a lender that visually reviews your credit file....yes.

[FrugalRican]

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@Anonymous wrote:

I think that was clear as mud.  My first clue that it's too early for me to post is when I start using words like "thus".    And "seemingly".  

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All you needed was a "vis-a-vis" thrown in there somewhere to complete the trifecta.

[WunderCard]

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@mtrsprt wrote:

In November.  I had 7 hard inquiries go on my report.  I also had 2 new accounts added.  My score dropped about 35 points.   Last week, I had 4 more inquires (Total now is 14 within the past 9 months), and the next day after those 4 new inquiries were added, my score jumped 10 points, and then 6 more points the next day.  Go figure.  I do not think inquiries are as bad as people think in terms of scoring.  To a lender that visually reviews your credit file....yes.

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Similiar story -- my last inq bumped my score UP 14 points.  My UTL had been at 0% for the 2 months prior.

[Imhotrodcrazy]

Last Dec, I got an AMEX card.  It was my only inquiry and new acct in 2 yrs.  Neither the inquiry, nor the new acct resulted in a score loss.  It surprised me, guess I got lucky. 

[RobertEG]

It is not possible to isolate the effect of one item, such as a new inquiry, by comparing CRs pulled prior to and after the event, particularly when the spacing is around a month or more.  Accounts age during the intervening time, affecting length of credit and age of reported derogs. 

If the inquiry was posted as a hard pull, it had its own affect, but other changes could have provided an offset.