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HP on your credit

Frequent Contributor

HP on your credit

Hi,

 

Does anyone know the metric used to determine how much effect hard pulls have on your score as they age?

 

IE does a HP that is 9 months have the same effect on your score as a HP that is 1 month old?

 

Thanks

Message 1 of 4
3 REPLIES
Established Contributor

Re: HP on your credit

As HPs age they have a smaller impact on your credit score.  Most damage is done during the first 6 months, less during the 2nd 6 month period and no effect in the third 6 month period.

Message 2 of 4
Frequent Contributor

Re: HP on your credit

Thank you. 

Message 3 of 4
Highlighted
Contributor

Re: HP on your credit

There is also an effect from length of credit history, at least that was the effect of some experimenting I did with the score simulator.  Having a short history means the HP has much more effect than having a long history, it will both have more negative at the start, and will age more slowly.



Starting Score: 2012-10-06 EX: SSN has not been allocated! (funny I pay my taxes)
Current Score: TU 08 - 787
Goal Score: 820+


Message 4 of 4