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Inquiries & Scorewatch

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Frequent Contributor

Inquiries & Scorewatch

Would new inquiries signal an alert? I ask this because I've recently applied for a few things and have not received an alert. I would assume that those inquiries would possibly lower my fico.

Message 1 of 5
4 REPLIES
Moderator Emeritus

Re: Inquiries & Scorewatch

Inquiries do trigger SW alerts, if and only if, the app resulted in EQ being pulled. Some creditors pull EQ, some TU and some EX, and oddballs like Capital One like to pull all 3.

 

An inquiry doesn't alert result in a score drop. Probably 80%+ of mine never impacted my FICO. I used to pull the day before the app and the day after to measure the change and found that most of mine never had any impact.

 

 

Message 2 of 5
Frequent Contributor

Re: Inquiries & Scorewatch


llecs wrote:

Inquiries do trigger SW alerts, if and only if, the app resulted in EQ being pulled. Some creditors pull EQ, some TU and some EX, and oddballs like Capital One like to pull all 3.

 

An inquiry doesn't alert result in a score drop. Probably 80%+ of mine never impacted my FICO. I used to pull the day before the app and the day after to measure the change and found that most of mine never had any impact.

 

 


Thank you for for your response. I really hope the inquiries does not impact my score. My fico is low enough. I was suppose to be gardening not having the app itchSmiley LOL

Message 3 of 5
Senior Contributor

Re: Inquiries & Scorewatch

Inquiries report for 2 years. If it's going to hurt your score, it will only hurt for 1 year.

IME, an inquiry would ding my score by 2 points.

FICO's May 2015 EQ764 ~~Live below your means and always keep an emergency fund -Love Everybody ~ Big Kenny ~ Big and Rich ~~~~~Credit Scoring 101 - Common Abbreviations - Freq Req Threads - Free Credit Reports - What Steps Do I Take?DV? PFD?
Message 4 of 5
Senior Contributor

Re: Inquiries & Scorewatch

An inquiry typically drops my score by about 5 points.


Starting Score: 675
Current Score: EX 753 FICO, EQ 737FICO, TU 738
Goal Score: 776 FICO


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Message 5 of 5