FICO Score goes UP due to a new inquiry?

[Anonymous]

Not that I'm complaining at all, but I got hit with a hard inquiry for opening a new savings account at a credit union. I saw the Inq hit on TC this morning. I just got the Scorewatch alert, but nothing else appears to have changed. Still, this is what caused a 2pt increase (so it would appear):

This jump in your FICO® score happened on the same day as a change on your Equifax Credit Report™ which triggered an alert. It's likely that the change in your credit report caused your score to go up, but this is not always the case. Your score may have changed for other reasons, such as paying back your debts responsibly, which isn't always reported as a credit alert. Also, as factors that were hurting your score get older, they have less of a negative impact on your score. In addition, if multiple changes on the credit report happened on the same day, some may have hurt the score while others helped it.

1 new inquiry was added to your credit report

Since when do you get a bump for a new inquiry?

[Anonymous]

That seems too good to be true!

Have any of your accounts had 1- or 2-year birthdays? Any lates that just had birthdays? Paid any cc's down lately?

It seems more likely that it's simply from accounts continuing to mature, than from the inq... say, maybe you gained +5 from accounts aging, but then -3 from the new inq, so all that FICOs shows is the +2 gain??

I dunno... unless FICO likes to see that you're looking into a savings account? Now THAT would be a new one, for sure.

[Anonymous]

I had an increase in my balance and my fico went up 3 points...

[llecs]

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@Anonymous wrote:

Not that I'm complaining at all, but I got hit with a hard inquiry for opening a new savings account at a credit union. I saw the Inq hit on TC this morning. I just got the Scorewatch alert, but nothing else appears to have changed. Still, this is what caused a 2pt increase (so it would appear):

This jump in your FICO® score happened on the same day as a change on your Equifax Credit Report™ which triggered an alert. It's likely that the change in your credit report caused your score to go up, but this is not always the case. Your score may have changed for other reasons, such as paying back your debts responsibly, which isn't always reported as a credit alert. Also, as factors that were hurting your score get older, they have less of a negative impact on your score. In addition, if multiple changes on the credit report happened on the same day, some may have hurt the score while others helped it.

1 new inquiry was added to your credit report

Since when do you get a bump for a new inquiry?

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You don't get a bump. SW, when it alerts you, doesn't tell you the full story. It won't list everything that happened to produce the increase. As Ivy mentioned, something else happened.

I also had a strange one where my util% increased by 10% and I got an alert that my score increased 20 points. A CA dropped off a SW never (and won't) alerted me to that.