@tavalon wrote:The thing I don't get is Equifax dinged me 16 points for the first one and 4 for the next one. They were a couple of weeks apart. Oh, and they didn't ding me at all for the hard pull that resulted in my new car. It doesn't seem all that scientific, does it? Is there something I'm missing?
Inquiries are graded on a step function.
It's not exact but for illustration purposes on inquiry counts:
0 -> 1: drop
1 -> 2: no drop
2 -> 3: drop
3 -> 4: no drop
4 -> 5: no drop
5 -> 6: drop
etc.
As a result we aren't penalized for every single inquiry, or at least not linearly. Less inquiries is clearly better under this model, but each individual one as you go up or down the ladder may not produce an upward or downward swing. Also this does vary as far as we know with the individual report in question, but generally it holds well.
