cancel
Showing results for 
Search instead for 
Did you mean: 

Effect of Inquiries on scores

Regular Contributor

Re: Effect of Inquiries on scores

 
Message 21 of 26
Established Contributor

Re: Effect of Inquiries on scores

The foregoing information in this thread further validates my plan to garden over the remainder of the spring/summer before attempting new applications in the fall. I currently have the following inquiries on my report (apologies for not being able to denote specific CRA's at this time):

 

Cap One (secured, successful) - 12/15; this is by far the oldest so it should no longer have any impact on my overall score, and is now just waiting to drop off the reports in December

USAA - 7/16, from an unsuccessful app (before I got really educated here Smiley Wink ); this will be well over a year old by the time I get back into the app pool so it'll also be too old to have any real effect

Synchrony (Amazon) - 11/29/16

Cap One (unsecured, successful) - 2/10/17

Penfed (used auto loan, successful) - 2/24/17

Discover (unsecured, successful) - 3/22/17

 

Obviously, the last three are the ones that need to have some age put on them (they're one of the main reasons why my CLI with Sync/Amazon was turned down last month); by my target date range of mid-late September they'll all have aged to 5-6 months with corresponding payment history, and if I succeed in getting CLI's on unsecured Cap 1 and Discover in the interim the score gains from those increases will more than offset any remaining effect from the inquiries.

Ch 7 BK discharged 12/14, well along in rebuilding credit. FICO 12/1/17:TU 663/EX 697/EQ 688 FICO 8 (Aug 2017) or 680 FICO 9 (Penfed Sep 2017), VS 3.0 12/1/17: TU 699/EX 687/EQ 693. $33.2K revolving credit as of 11/7/17; $951 Cap One secured Platinum MC, $2000 Apple FCU Platinum Visa, $3500 Amazon Prime Store Card, $3500 Walmart Store Card, $3500 Cap One Quicksilver MC, $4000 Care Credit, $4300 Overstock Store Card, $4500 Discover It, $7000 Penfed Power Cash Rewards Visa, $10k PenFed used car loan, $5k Navient student loan. In the garden again from 10/26/17 for at least the next 3 months unless I get a really really good preapproval.
Message 22 of 26
New Contributor

Re: Effect of Inquiries on scores

my score was around 773 over a month ago.  probably max score i could get until aaoa changed and some installment loans balances were paid down.  i was actually at 797 and carecredit closed old account and added new.  i think it messed my aaoa up and/or rebucketed me because i had nothing else on my profile for a long time i was gardening.

 

i think i now have like 7 inquires in the past couple of months.  i got a car, that was 2.  had to switch 2 cell phone providers.  got a couple new cards.

 

what is wierd to me is i was actually saving my cli's for quite a while on numerous cards.  i totally forgot to try and do the soft pull cards before all this activity like a dummy!

 

i am not noticing the direct impact on my scores because of inquires as of now, must be less than 10 points.

 

BUT what my activity did do is piss off numerous places when i asked about cli and even apply for last account where i got shut down?

 

very interesting to me because i feel i did an app spree in early 2014 to help me get through a surgery.  maybe now with my profile since i haven't had balances much except to keep cards active they see me as a flight risk or something?

 

its like im basically frozen right now and the car hasn't even reported the loan yet.

Message 23 of 26
Valued Contributor

Re: Effect of Inquiries on scores


joe8185 wrote:

The foregoing information in this thread further validates my plan to garden over the remainder of the spring/summer before attempting new applications in the fall. I currently have the following inquiries on my report (apologies for not being able to denote specific CRA's at this time):

 


I am not sure you got the full scope of the information. Inquiries are looped into the same area as new credit. Applying for credit is a gamble, but the data in the approvals board will help give you an idea of whether or not you will be approved. It has VERY LITTLE to do with your inquiries when you are denied. As many people have pointed out, it has more to do with your scores and your profile as a whole, a very small portion of which are inquiries. 

 

If you know you want a certain card, and you have favorable odds to be approved... the sooner you apply, the better. ESPECIALLY  in waves... that's why people in the Approval boards talk about 'app sprees'. These accounts will age together, and the inquiries will drop off together, so you don't perpetually always have breadcrumbs of new credit.


EX08 659 EQ08 660 TU08 695 Starting: mid 300'sGoal: 700
Message 24 of 26
Established Member

Re: Effect of Inquiries on scores

Just checked my new MF report and noticed only 2 inquiries from TU, both reported on December 13, 2016. 4 are no longer in my report (3 from April 2015 and 1 from January 2016). I was expecting the 3 from 3/15 to drop off next month but the one on 1/16 to still show. Am I wrong? My CK is still showing 6 HP.

Message 25 of 26
Highlighted
Valued Contributor

Re: Effect of Inquiries on scores


Petionville wrote:

Just checked my new MF report and noticed only 2 inquiries from TU, both reported on December 13, 2016. 4 are no longer in my report (3 from April 2015 and 1 from January 2016). I was expecting the 3 from 3/15 to drop off next month but the one on 1/16 to still show. Am I wrong? My CK is still showing 6 HP.


Inqueries stay on the report for 2 years, but only affect your score for 1 year. I do not understand why the one from January 2016 dropped off of report either.




TU fico08=820 11/10/17
EX fico08=812 10/25/17
EQ fico08=818 10/25/17
Garden since 4/5/2017
Message 26 of 26