cancel
Showing results for 
Search instead for 
Did you mean: 

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

tag
elim
Senior Contributor

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


@gdale6 wrote:

@NRB525 wrote:

@elim wrote:

@sarahlee7 wrote:

@elim wrote:

also... a hard inquiry is much more of a reason to alert you than any "milestone" as someone may be seeking credit in your name.


Of course....so lets just add 'milestones' for reasons for an alert.  If it causes score changes it must be important enough to be alerted about.


   i think daily pings would be ideal but they would of course hit us up again $$$


It's bad enough that people check daily for score changes. If they thought they had a real reason to check hourly, gads, the world around us would stop.

Really, people need to chill on the score updates. It would be better here if it acted a bit more like CK and just updated the score weekly, and NOT tie it to an alert. It would save a lot of confusion. Still give an alert, but not a score change. Then people would not attribute so much to the $20 balance changes and mis-directions that seem to follow HP and pay off of CC after other significant events we don't get alerts for.


Agreed, I dont sweat nor try to find an answer to score moves +-20 in my profile, its not worth the time and it will drive you nuts if you constantly are looking for reasons for a change. It is what it is put more emphasis on building or rebuilding your profile and dont worry so much about the score its always going to be moving in one directlion or another. Smiley Happy


  i think you may have the solution...  keep the alerts coming so us OCD people can stay ahead af any threat and just update the score on a weekly basis (whether there is an alert or not)

 

i'm not real concerned about my scores unless i get nuked by identity theft and they drop to 500 

but, i would see the INQ within 24 hours so i doubt that would happen so easily

Message 21 of 25
Anonymous
Not applicable

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

May be it should have increased by 20 or 30 but only increased by 8 due to the pull. 

Message 22 of 25
Anonymous
Not applicable

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

Lets revive this thread lol, not joking. I Have 0 negative on my credit report, balance is always paid in full before I get a statement, and util is always 0. I have seen some argue its better to keep a balance, and others say it makes no difference. I recently went on a application spree, almost 2 weeks ago I applied for 3 cards, got approved 2 hp dropped my score 8 pts the 3rd pull raised my score, on vantage 3 and fico. I am aware of everything in my file, I have a credit check for every day, through different sources, including fico's which double on some of the days. Yesterday I applied for another card from chase, I already knew what was on report as I had already looked at the updated one, hp alert and a alert my score went up again. So within a 2 week period with nothing new, no new mile stone and my credit score rebounded all hard pulls and is actually higher, all the same hp inquiries are still there none were due to drop off yet, + all the new inquiries. 

 

I am a bit confused because everything I read says that cant happen, yet though researching past week I have found it has happened to quite a few just seems to be theorys as to why. 

Message 23 of 25
Anonymous
Not applicable

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

1 - I'm not sure why 3+ year old threads keep getting revived!

 

2 - It's impossible for a score to "go up" from an inquiry.  Both 3 years ago and today.

 

3 - It's possible for a score to remain unchanged by an inquiry.  If inquiries are "binned" together, say 6-7 (for example), if one has 6 inquiries and takes on 1 more to bring it to 7, it's completely possible to see no score change.  At that same moment in time, a different scoring factor perhaps related to age of accounts, a utilization drop, etc. could result in a score gain, thus giving the false impression that the additional inquiry resulted in a score gain.

Message 24 of 25
NRB525
Super Contributor

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

James, what are your scores from MyFICO? This matters for context of nearly all score changes.

And you will note BBS reply is basically the same explanation given three years ago. Hopefully this version you will believe? Smiley Wink

The algorithm has not changed, it continues to not inundate you with every calculation step.
High Bal Jan 2009 $116k on $146k limits 80% Util.
Oct 2014 $46k on $127k 36% util EQ 722 TU 727 EX 727
April 2018 $18k on $344k 5% util EQ 806 TU 810 EX 812
Jan 2019 $7.6k on $360k EQ 832 TU 839 EX 831
March 2021 $33k on $312k EQ 796 TU 798 EX 801
May 2021 Paid all Installments and Mortgages, one new Mortgage EQ 761 TY 774 EX 777
April 2022 EQ=811 TU=807 EX=805 - TU VS 3.0 765
Message 25 of 25
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.