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Does approval matter on the impact of a hard pull?

Member

Does approval matter on the impact of a hard pull?

Hi all,

 

A long time ago I was taught that a credit inquiry only reflected poorly if you were subsequently denied the credit you were asking for. So a HP didn't matter if you were approved, only if you were denied. 

 

Since that is apparently not the case, does it matter if you are approved or denied in terms of how it reflects on your credit, or are all HP's equally bad? 

7/17: EX 750, TU 741, EQ 716
AAoA = 12.7yrs (Exp), 13.6 years (TU/Eq)

Message 1 of 42
41 REPLIES
Established Contributor

Re: Does approval matter on the impact of a hard pull?

I'm not 100% sure, but I believe a HP is a HP, as far as Fico08 scoring is concerned.
Message 2 of 42
Established Contributor

Re: Does approval matter on the impact of a hard pull?

Inquiry score does not take approval or denial into account. It's just the number of HPs, good or bad.
Message 3 of 42
New Contributor

Re: Does approval matter on the impact of a hard pull?

As someone mentioned, HP is a HP.  Obviously it matters when the lender reports to CRAs, which could be 1-2 months later.   I got new Venture 7/03, the first statement date is 8/28... I expect to see it  on my reports around 9/5.  At that time, it will affect the score.

Message 4 of 42
Community Leader
Valued Contributor

Re: Does approval matter on the impact of a hard pull?

Oh I wish that were true! I have inquiries over the past 2 years in the teens on all 3 CBs, and all resulted in approvals for new or expanded lines except for CapOne who hates me.

$500k+ club. | FICO 08 [Oct 2017]: EQ 746 EX 738 TU 733 | World's worst gardener.
Message 5 of 42
Contributor

Re: Does approval matter on the impact of a hard pull?


jeffreymrimd wrote:

As someone mentioned, HP is a HP.  Obviously it matters when the lender reports to CRAs, which could be 1-2 months later.   I got new Venture 7/03, the first statement date is 8/28... I expect to see it  on my reports around 9/5.  At that time, it will affect the score.


That long?  Mine showed up a few days after I applied for the cards.



Equifax - 644
TransUnion - 641
Experian - 639
Message 6 of 42
Senior Contributor

Re: Does approval matter on the impact of a hard pull?

It's uncommon for inquiries to not show up very quickly in most cases.

 

OP, the result of a HP has no bearing on your score.  A HP is a HP in terms of how it impacts your credit score.  There are events that can result in a HP that have nothing to do with being approved for a new account, such as a credit line increase on an existing account for example.

 

 

 

 

Message 7 of 42
Community Leader
Valued Contributor

Re: Does approval matter on the impact of a hard pull?


VoltaicShock wrote:

jeffreymrimd wrote:

As someone mentioned, HP is a HP.  Obviously it matters when the lender reports to CRAs, which could be 1-2 months later.   I got new Venture 7/03, the first statement date is 8/28... I expect to see it  on my reports around 9/5.  At that time, it will affect the score.


That long?  Mine showed up a few days after I applied for the cards.


The accounts showed up on your reports that quick?  Or the inquiries?  The inquiries should show up immediately but accounts usually don't report until at least after the first statement has been generated.


$500k+ club. | FICO 08 [Oct 2017]: EQ 746 EX 738 TU 733 | World's worst gardener.
Message 8 of 42
New Contributor

Re: Does approval matter on the impact of a hard pull?


VoltaicShock wrote:

jeffreymrimd wrote:

As someone mentioned, HP is a HP.  Obviously it matters when the lender reports to CRAs, which could be 1-2 months later.   I got new Venture 7/03, the first statement date is 8/28... I expect to see it  on my reports around 9/5.  At that time, it will affect the score.


That long?  Mine showed up a few days after I applied for the cards.


I expected sometime in July... But that's what I see in Cap1 site.

Message 9 of 42
Established Contributor

Re: Does approval matter on the impact of a hard pull?


jeffreymrimd wrote:

VoltaicShock wrote:

jeffreymrimd wrote:

As someone mentioned, HP is a HP.  Obviously it matters when the lender reports to CRAs, which could be 1-2 months later.   I got new Venture 7/03, the first statement date is 8/28... I expect to see it  on my reports around 9/5.  At that time, it will affect the score.


That long?  Mine showed up a few days after I applied for the cards.


I expected sometime in July... But that's what I see in Cap1 site.


You are talking about first statement reporting, he is talking about HP registering on your CR, two different things.

Message 10 of 42