Frequent Contributor
Posts: 378
Registered: ‎03-31-2012
HP on your credit

Hi,

 

Does anyone know the metric used to determine how much effect hard pulls have on your score as they age?

 

IE does a HP that is 9 months have the same effect on your score as a HP that is 1 month old?

 

Thanks

Established Contributor
Posts: 866
Registered: ‎09-22-2011
Re: HP on your credit

As HPs age they have a smaller impact on your credit score.  Most damage is done during the first 6 months, less during the 2nd 6 month period and no effect in the third 6 month period.

Frequent Contributor
Posts: 378
Registered: ‎03-31-2012
Re: HP on your credit

Thank you. 

New Contributor
Posts: 79
Registered: ‎12-20-2012
Re: HP on your credit

There is also an effect from length of credit history, at least that was the effect of some experimenting I did with the score simulator.  Having a short history means the HP has much more effect than having a long history, it will both have more negative at the start, and will age more slowly.



Starting Score: 2012-10-06 EX: SSN has not been allocated! (funny I pay my taxes)
Current Score: 2013-10 Average 718
Goal Score: 760+