topic Re: When counting Hard Pull Inquires??? in Credit Cards

When counting Hard Pull Inquires???

BluePoodle — Fri, 18 Apr 2014 17:26:03 GMT

When you count Hard Pull Inquires on your CR, do you count 12 months (considered in FICO Scoring) or 24 that show on your CR?

Does it vary depending on if you are applying for Mortgage vs Auto Loan vs CC or other unsecured lines of credit?

Re: When counting Hard Pull Inquires???

Kenny — Fri, 18 Apr 2014 17:30:26 GMT

Need more info -- what exactly is the question.

I count all of them for the 2 years. Of course, if I know what bureau a CC is going to pull then I then look at the last 6 months to a year.

I imagine it would vary if you were applying for a mortgage.

For an auto loan those are usually an auto enhanced score so it wouldn't matter too much there.

Re: When counting Hard Pull Inquires???

BluePoodle — Fri, 18 Apr 2014 17:37:00 GMT

@KennyRS wrote:
Need more info -- what exactly is the question.

I count all of them for the 2 years. Of course, if I know what bureau a CC is going to pull then I then look at the last 6 months to a year.

I imagine it would vary if you were applying for a mortgage.

For an auto loan those are usually an auto enhanced score so it wouldn't matter too much there.

I was just wondering. I have been looking at the last 12 months. When everyone posts "I have X number of HP inquires on this CR" I began to wonder if that was referring to 12 months out or 24? Especially when someone is denied for "too many inquires" is that in reference to 12 month or 24 time frame? I just want to make sure NOT to have too many and that is the reason for my Q. Thanks!

Re: When counting Hard Pull Inquires???

Kenny — Fri, 18 Apr 2014 17:40:14 GMT

Gotcha! I think CC companies use that as a reason if the profile is borderline or they genuinely see too many new accounts. I would tend to lean on the last 12 months but mostly last 6 if the previous 6 didn't have many. If that makes any sense! lol

Best of luck!!

Re: When counting Hard Pull Inquires???

mongstradamus — Fri, 18 Apr 2014 18:12:25 GMT

Thats an really good question. I am wondering how many hp is too many when they look at cc apps. I am at around 8 months since I last apped. Wondering if i should wait some more.

Re: When counting Hard Pull Inquires???

Revelate — Fri, 18 Apr 2014 18:27:26 GMT

Fewer is always better, but having a bunch won't necessarily kick you out either: depends on underwriting standards, and I agree, if you have a fantastic file anyway compared to their underwriting standards it isn't going to matter, more likely in the borderline case.

I don't think there's any full consistency in the forum posters stating, but I believe it's mostly any inquiry in the last two years as I often see (and use myself) qualification as to how many are in a scoreable range (w/in last year).

I think if it's on the report, and if lenders can see it as they do for 2 years, then it's total inquiries on the report which does count from an underwriting perspective, and therefore should likely be the standard on this forum. My opinion anyway.

Re: When counting Hard Pull Inquires???

BluePoodle — Fri, 18 Apr 2014 18:29:18 GMT

@KennyRS wrote:
Gotcha! I think CC companies use that as a reason if the profile is borderline or they genuinely see too many new accounts. I would tend to lean on the last 12 months but mostly last 6 if the previous 6 didn't have many. If that makes any sense! lol

Best of luck!!

I just pulled copies from MyAnnualReport.com. I have 1 with TU, 3 with Ex and both are older than 12 months but younger than 24 months. I have to send it a written request for a copy of my EQ report. For some reason it would not allow me to do it online. I know there is at least 1 there from Discover this Jan but not sure what else. But it just got me to wondering, how I should be counting HPs? I feel ok with were my numbers are but I do want to make sure to watch it for my upcoming credit apps and make sure I know where things are at with HPs. No one had ever really mentioned if they were counting 12 or 24 months out when they referred to how many than had.

Re: When counting Hard Pull Inquires???

BluePoodle — Fri, 18 Apr 2014 18:36:53 GMT

@Revelate wrote:
Fewer is always better, but having a bunch won't necessarily kick you out either: depends on underwriting standards, and I agree, if you have a fantastic file anyway compared to their underwriting standards it isn't going to matter, more likely in the borderline case.

I don't think there's any full consistency in the forum posters stating, but I believe it's mostly any inquiry in the last two years as I often see (and use myself) qualification as to how many are in a scoreable range (w/in last year).

I think if it's on the report, and if lenders can see it as they do for 2 years, then it's total inquiries on the report which does count from an underwriting perspective, and therefore should likely be the standard on this forum. My opinion anyway.

Agreed, but I think 12 months has been what many have been going by? Maybe I am wrong. I was only looking at what impacted FICO scores but now I am trying to look at it from an underwriters prospective.

That brings up another silly question....what about status detail comment? When a customer disputes an account but it remains on the CR the disputed is noted. What are opinions about that? Should/Would it be beneficial to request those comments to be removed? What value or harm do they offer???

Re: When counting Hard Pull Inquires???

Revelate — Fri, 18 Apr 2014 18:40:10 GMT

@BluePoodle wrote:
@Revelate wrote:
Fewer is always better, but having a bunch won't necessarily kick you out either: depends on underwriting standards, and I agree, if you have a fantastic file anyway compared to their underwriting standards it isn't going to matter, more likely in the borderline case.

I don't think there's any full consistency in the forum posters stating, but I believe it's mostly any inquiry in the last two years as I often see (and use myself) qualification as to how many are in a scoreable range (w/in last year).

I think if it's on the report, and if lenders can see it as they do for 2 years, then it's total inquiries on the report which does count from an underwriting perspective, and therefore should likely be the standard on this forum. My opinion anyway.

Agreed, but I think 12 months has been what many have been going by? Maybe I am wrong. I was only looking at what impacted FICO scores but now I am trying to look at it from an underwriters prospective.

That brings up another silly question....what about status detail comment? When a customer disputes an account but it remains on the CR the disputed is noted. What are opinions about that? Should/Would it be beneficial to request those comments to be removed? What value or harm do they offer???

Absolutely get them removed: you'll have to before a mortgage when using Desktop Underwriter, and it's likely other automated underwriting systems fail similarly. Don't get kicked out on an application over something stupid like that in my opinion .

Re: When counting Hard Pull Inquires???

BluePoodle — Fri, 18 Apr 2014 18:47:55 GMT

@Revelate wrote:
@BluePoodle wrote:
@Revelate wrote:
Fewer is always better, but having a bunch won't necessarily kick you out either: depends on underwriting standards, and I agree, if you have a fantastic file anyway compared to their underwriting standards it isn't going to matter, more likely in the borderline case.

I don't think there's any full consistency in the forum posters stating, but I believe it's mostly any inquiry in the last two years as I often see (and use myself) qualification as to how many are in a scoreable range (w/in last year).

I think if it's on the report, and if lenders can see it as they do for 2 years, then it's total inquiries on the report which does count from an underwriting perspective, and therefore should likely be the standard on this forum. My opinion anyway.

Agreed, but I think 12 months has been what many have been going by? Maybe I am wrong. I was only looking at what impacted FICO scores but now I am trying to look at it from an underwriters prospective.

That brings up another silly question....what about status detail comment? When a customer disputes an account but it remains on the CR the disputed is noted. What are opinions about that? Should/Would it be beneficial to request those comments to be removed? What value or harm do they offer???
Absolutely get them removed: you'll have to before a mortgage when using Desktop Underwriter, and it's likely other automated underwriting systems fail similarly. Don't get kicked out on an application over something stupid like that in my opinion .

I completely understand for mortgage why you would not want them there. Will having them removed affect FICO scores?

Re: When counting Hard Pull Inquires???

masscredit — Fri, 18 Apr 2014 20:39:44 GMT

I have a few nquiries from last May/June. They only have an impact on scores for the first 12 months. Does that impact become less towards the end of that 12 months? Mine are -

May 26, 13 - Citi - 1 EQ

June 5, 13 - DCU - 3 EQ (1 for new checking, 1 for auto loan and one for a credit card app)

My other one is from 20 months ago. It shows up but doesn't matter score wise -

Aug 30, 12 - Discover - EQ

Re: When counting Hard Pull Inquires???

sunni_one — Fri, 18 Apr 2014 20:49:40 GMT

I had never thought about how disputing an account affects your score until it happened to me. JC Penney made an error during a transaction and did not credit my account. I ended up having to speak to GE to get it resolved. While they were researching it, they noted that my account had been disputed (untrue) which caused my Fico score to drop 6 points. Once the problem was resolved, they removed the comment, and I regained the points. Learn something new everyday!

Re: When counting Hard Pull Inquires???

BluePoodle — Fri, 18 Apr 2014 20:52:01 GMT

@sunni_one wrote:
I had never thought about how disputing an account affects your score until it happened to me. JC Penney made an error during a transaction and did not credit my account. I ended up having to speak to GE to get it resolved. While they were researching it, they noted that my account had been disputed (untrue) which caused my Fico score to drop 6 points. Once the problem was resolved, they removed the comment, and I regained the points. Learn something new everyday!

Same here! I never knew! Guess that's why we keep coming back here to read, ask questions and discuss experiences.

Re: When counting Hard Pull Inquires???

Anonymous — Fri, 18 Apr 2014 21:11:30 GMT

@Revelate wrote:
Fewer is always better, but having a bunch won't necessarily kick you out either: depends on underwriting standards, and I agree, if you have a fantastic file anyway compared to their underwriting standards it isn't going to matter, more likely in the borderline case.

I don't think there's any full consistency in the forum posters stating, but I believe it's mostly any inquiry in the last two years as I often see (and use myself) qualification as to how many are in a scoreable range (w/in last year).

I think if it's on the report, and if lenders can see it as they do for 2 years, then it's total inquiries on the report which does count from an underwriting perspective, and therefore should likely be the standard on this forum. My opinion anyway.

I agree. Basically a two-step process in most cases. "Too many" in the last 12 months impacts your score and might lead to auto-rejection. But anything in the report is fair game once there is a manual assessment (such as in a recon). Now an underwriter may will discount inquiries nearly 2 years old, but some won't.

So report both!