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I always lost some points for a new hard inq with the old FICO formulas. Usually 7 or 8 points. Not this time! I apped with Amex on 07-15-2014 and expected my score to drop, but it didn't. Has anyone else experienced the same thing since the FICO 08 scores were made available here?
Don't get me wrong, I'm doing the happy dance. If Amex reports my new BCP card according to MSD (member since date), I won't take a hit for a new account either. If that happens, I'll be doing hula on my dining room table. lol
Nope! Just one new inq from Amex on my EX report.
I don't think it's changed in this instance, though breakpoints might've but we never knew the specific ones anyway. Most of the FICO testers I'm aware of don't tend to rack up a slew of inquiries (5+) on a single report, and they most certainly don't stretch their sprees out over time to try to isolate it.
There were plenty of times I didn't get an inquiry ding when I had inquiries on a report under FICO '04, illecs and many others found similarly, which lead me and others to conclude that inquiry count is graded on a step-function vis a vis:
etc. Simplified and the numbers are likely not exact, but they also found that north of like 10 inquiries additional ones didn't do any damage.
I had one really wierd one where I went from 0->1 and didn't see a change under FICO '04, but it wasn't isolated as I had a card which went from $458 -> $2 / 2000; I don't *think* this should've triggered a score change as my overall utilization was low and I've never seen a ding at that ratio on a single card, but it was my only scoreable inquiry at the time and I'm really struggling to not see how it didn't affect me. It could be the same thing as what you saw, *maybe* there's a thickness of file calculation vs. inquiry count? Can't really know at that level but if we're talking borrower risk I could see where that might be reasonable?
@fused wrote:
Nope! Just one new inq from Amex on my EX report.
I know how it feels! One recent inquiry, and yet my 08 score for this EQ remains at 850. It was for a checking account at a credit union, but since your score didn’t drop either, it appears FICO may not distinguish between deposit and credit requests.
One of hauling’s (where is she now by the way?) observations on inquiries comes to mind. For 04, but perhaps unchanged in 08. I’ll keep my eyes open at the mortgage preapproval festivities in mid-August.
Intersting stuff! I'll say it again, tho, FICO 08 has me feeling like I'm learning something new all over again.