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Credit Score goes UP with a hard inquiry?Since when?

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Anonymous
Not applicable

Credit Score goes UP with a hard inquiry?Since when?

I am so confused right now. My understanding has always been either it won't effect your credit score or it will report negatively. I just recently checked MYFICO and saw that my score went up due to a Hard Inqury on my report (and to be honest I don't think the loan I applied for has been approved) ??

Message 1 of 25
24 REPLIES 24
gdale6
Moderator Emeritus

Re: Credit Score goes UP with a hard inquiry?Since when?


@Anonymous wrote:

I am so confused right now. My understanding has always been either it won't effect your credit score or it will report negatively. I just recently checked MYFICO and saw that my score went up due to a Hard Inqury on my report (and to be honest I don't think the loan I applied for has been approved) ??


Something else has changed its nearly impossible for a HP to cause a score rise, the only possible exception is with 0 inqs and you pull just 1 it might cause a small increase from the new credit seeking category of Fico if this isnt the case I would say something else overcame the score decrease.

Message 2 of 25
Anonymous
Not applicable

Re: Credit Score goes UP with a hard inquiry?Since when?

The same thing happened to me. I got approved for the CSP yesterday and when I got the notification this morning I was shocked that my EX score went up 8 points by the inquiry.

Message 3 of 25
Anonymous
Not applicable

Re: Credit Score goes UP with a hard inquiry?Since when?

According to Myfico the correlation between my score going up and any recent activity on my account is the HP. Nothing else is is showing reporting on my CR for that CB.
Message 4 of 25
Anonymous
Not applicable

Re: Credit Score goes UP with a hard inquiry?Since when?

Oh and this particular pull would be number 2 or 3 (because it was pulled twice...and I'm on my way with the dispute letter)...
Message 5 of 25
Anonymous
Not applicable

Re: Credit Score goes UP with a hard inquiry?Since when?


@Anonymous wrote:

The same thing happened to me. I got approved for the CSP yesterday and when I got the notification this morning I was shocked that my EX score went up 8 points by the inquiry.


I think your score might have gone up because the CSP is now a factor on your credit report, not necessarily because of the inquiry. I could be wrong though.

Message 6 of 25
sarahlee7
New Contributor

Re: Credit Score goes UP with a hard inquiry?Since when?

Same here.  Gained 2 pts on EQ for  ' a change has been detected on your report.  A hard inquiry was added.  Your score 706 to 708'.

 

So according to the alerts and what the alert says word for word, the inquiry DID cause my score to go up, and NOT because of something else changing in my file.

 

And why wouldn't we get the alerts that ARE the cause for the score change instead of getting alerts that are NOT responsible for the score change?  Seems like getting alerts for the actual cause of a score change is more important than getting alerts that are not the cause of a score change?

Message 7 of 25
Anonymous
Not applicable

Re: Credit Score goes UP with a hard inquiry?Since when?

The inquiry was the reason for the update. That's all. When i first started building my score would rise every month. Inquiries, address changes, $1 balance increases. Your score is constantly changing it's just MyFico only updates for certain events. So if in the 1 moonth you hit an age milestone on an account... it's not going to cause an alert. But the inquiry  will and therefore cause an increase in score. 

Message 8 of 25
sarahlee7
New Contributor

Re: Credit Score goes UP with a hard inquiry?Since when?


@Anonymous wrote:

The inquiry was the reason for the update. That's all. When i first started building my score would rise every month. Inquiries, address changes, $1 balance increases. Your score is constantly changing it's just MyFico only updates for certain events. So if in the 1 moonth you hit an age milestone on an account... it's not going to cause an alert. But the inquiry  will and therefore cause an increase in score. 


Soooo, what you're saying is a 'milestone' is more important than the hard inquiry?  Then why don't we get alerts for that all so important 'milestone' instead of an unimportant hard inquiry?

 

 

Message 9 of 25
elim
Senior Contributor

Re: Credit Score goes UP with a hard inquiry?Since when?


@sarahlee7 wrote:

@Anonymous wrote:

The inquiry was the reason for the update. That's all. When i first started building my score would rise every month. Inquiries, address changes, $1 balance increases. Your score is constantly changing it's just MyFico only updates for certain events. So if in the 1 moonth you hit an age milestone on an account... it's not going to cause an alert. But the inquiry  will and therefore cause an increase in score. 


Soooo, what you're saying is a 'milestone' is more important than the hard inquiry?  Then why don't we get alerts for that all so important 'milestone' instead of an unimportant hard inquiry?

 

 


 no

 

they are saying Your score is fluctuating at all times without it being updated to your myFICO dashboard. Then, one of the actions (balance change, new account, inq, etc.) occurs that triggers your dashboard to update and show the score.

 

your score could have risen 10 points before the 2 point drop for the inquiry without you even knowing (resulting in an 8 point climb at the trigger)

 

note*  after a certain amount of inquirys, they don't affect your score

Message 10 of 25
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