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Hey guys, so I have been keeping track of my credit with myFICO and the alerts I receive. Well, I have noticed a couple of times that when an inquiry hits my report, it has made my score actually go up a couple of times. One time it increased my TransUnion score 5 points and my Equifax report 1 point. Also, all of the new accounts I have opened in the past week has improved my score as well. My score was a 640 Experian about a week ago. It has increased to 678 in a week. Any idea how this is occuring?
Well, inquiries did not increase your credit score. Other factors may be decreased utilization with new accounts reporting, account aging, etc. Not enough information but maybe someone else has ideas...
This happened to me, too. Only 1 inquiry added, no other changes. My increase was 8-10 points. My cards all have high balances and every time my balance gets higher, my score goes up. I've read others here have paid off debt and LOST points. I don't get it.
@AzaleaB wrote:Well, inquiries did not increase your credit score. Other factors may be decreased utilization with new accounts reporting, account aging, etc. Not enough information but maybe someone else has ideas...
I agree, I definetly would not suggest applying for cards to increase your score. There had to be some other factor that made your score increse
It was just weird. I keep getting approved for cards and my score has improved 40 points in the past 2 weeks because they have already started reporting. It's just a weird experience.
When people say "no other change occurred" thats simply not possible unless you are looking at reports pulled the same exact day. *Everything* changes each month due to aging.