inqs weighted?

[Anonymous]

I just joined two credit unions and they both did HPs on my credit.  Well the HPs hit myfico today, but no score change?  So are such inqs weighted in a way so they do not affect my score?  I would have expected a drop due to this.

[llecs]

Inquiries are weighted the same. Now there are some inquiries ignored by FICO such as duplicated inquiries due to mortgage or auto apps within a given timeframe, or other inquiries like ones for employment or insurance.

Inquiries fall within that 10% new credit category which include inquiries and new credit. The law of diminishing returns comes into play; you don't lose X points per inquiry. The more inquiries you have the less it will impact you when added. So, if you add some new credit, wait a few months, and apply again for something else, you aren't likely to see any score change as the new one(s) are added. Most of the impact of inquiries comes when you go from 0 to 1 or 1 to 2 inquiries, and is typically felt when your scores are higher. I always pull FICO reports when apping so I know what my score was on that day and found that 70-80% of my pulls never resulted in a FICO change.

[Crashem]

Inquiry 1 and 2 within six months hurt more. 3-5 hurt less. More than that you hardly see any hit. Maybe some positive info the other way? Also, might be worth calling cu to see what scores they got for you as FYI. You can often get them to tell you. Btw, I think you did Penfed. That membership hard pull can be used for any credit products applications for up to three months. Of course you may want them to pull new report.

[Anonymous]

I did join PenFed and Alliant, used military history for PenFed and mother's membership for Alliant.  Both were hard pulls.  Just opened savings accounts for now. 

I was wondering if they were like insurance pulls, which are noted to be an insurance pull.

I now have 9 HPs in the past 2 years and 6 in the past year, according to myfico scorewatch.  A few others of course on different bureaus, since I do not see an AMEX HP on myfico scorewatch for my new Zync.  My six in the past year is not too bad, one was for a new apartment, two for credit union membership and one will drop off my score in August.  At 688 PenFed would laugh at me   So I will wait and make them pull a new score when I am ready to ask for a card from them.  I think I will call PenFed next week and ask them what my score was when they pulled it.

Right now I am more concerned with my student loans, they were just sold by the US Dept of Edu and bought by Great Lakes.  The new Great Lakes accounts have not hit my report yet.  The question becomes how many of my loans were bought, it will suck to see 6 new loans pop up on the radar. 

[Crashem]

The cu hp hurt. Sounds like you have a bunch so new ones hurt less. As FYI, score watch only looking at eq. Amex almost for sure pulled ex. Managing your inquiries per bureau is one way to lessen inquiries. For example I did Penfed after a bunch of new cards. This is usually no no. But I knew the guys I had apped used ex. There were no inquiries on eq. Penfed was first in my app spree on eq.