@Anonymous wrote:
I applied for a Chase yesterday (fell out of the garden) and this morning myFico gave me an alert about the inquiry and my score went up 7 points. I thought inquiries were suppose to lower your score?
On a side note, got approved and more than doubled my credit limit! (: But, that isn't reported yet so that can't be the reason for the increase.
Inquiries are either no impact or negative depending on type of inquiry, and where you fall in the inquiry bins (step function, they aren't counted linearly against you).
That said inquiries are one of the triggers that will result in a score update; in this case something else changed, and the summation between inquiry and other change (which wasn't uniquely tracked) produced the 7 point increase.
Something else caused that jump. But hey, it's a jump!
@Anonymous wrote:
Sweet! It got all three of my scores over 700. Any day now my personal loan should update to < 9%. Hoping for a big jump. (:
I got around a 25 point jump when I paid down my loan to under 9%. Hope you get the same results.
