topic Re: No Score Change Question in Understanding FICO® Scoring

No Score Change Question

MrTom — Sun, 20 Aug 2017 00:37:53 GMT

So I had my credit reports pulled for a mortgage. Seeing I had a lock on Transunion, this resulted in 2 Experian 2 Equifax and 1 Transunion pulled. Im working on getting those extra ones removedfora duplicate pull error.

But none of my credit scores went down at all from these pulls.

Anyone can explain this one?

Re: No Score Change Question

Anonymous — Sun, 20 Aug 2017 01:25:44 GMT

HPs don't always result in score drops. There can be any number of reasons why. Most are profile-specific. One reason would be if you already have a lot of inquiries. Eventually due to diminishing returns, additional inquiries stop further impacting score. Some also believe that inquiries may be binned together, that is, that say 1-2 are scored the same, then 3-4, 5-6, etc. Sometimes adding an inquiry or two may not change the "bin" you're in, thus no scoring change.

Re: No Score Change Question

Anonymous — Sun, 20 Aug 2017 01:30:50 GMT

When were the inquiries? And what credit monitoring system are you using?

Re: No Score Change Question

MrTom — Sun, 20 Aug 2017 06:03:08 GMT

I use Experian's credit tracker subscription. It givesme FICO8 with daily pulls from all 3 cb at no extra charge.

@Anonymous wrote:
When were the inquiries? And what credit monitoring system are you using?

Re: No Score Change Question

Anonymous — Sun, 20 Aug 2017 11:19:42 GMT

Well, if you are getting a daily pull of all three scores then it isn't because you are still waiting for a passive alert-driven system to notify you. So that rules that out.

It's likely what BBS said. It would be useful for the community to hear how many inquiries you had at each bureau. (Counting only those inquiries < 364 days old.) And also if you can confirm that no inquiries were turning 364-366 days old around the same time as the new inquiries occured.

Re: No Score Change Question

SouthJamaica — Sun, 20 Aug 2017 14:39:58 GMT

@MrTom wrote:
I use Experian's credit tracker subscription. It givesme FICO8 with daily pulls from all 3 cb at no extra charge.
@Anonymous wrote:
When were the inquiries? And what credit monitoring system are you using?

Daily pulls from all 3 bureaus? What is the exact name of the service you're subscribing to?

Re: No Score Change Question

Anonymous — Mon, 21 Aug 2017 00:22:46 GMT

I was wondering the same thing SJ. I know CCT provides daily pulls of just EX. I've never heard of daily pulls on all 3B reports/scores.

Re: No Score Change Question

medicgrrl — Mon, 21 Aug 2017 01:54:07 GMT

Aren't mortgage pulls different in that they count as one and don't affect the scores until after 30 days or something along those lines?

Re: No Score Change Question

Anonymous — Mon, 21 Aug 2017 02:07:33 GMT

@medicgrrl wrote:
Aren't mortgage pulls different in that they count as one and don't affect the scores until after 30 days or something along those lines?

Bingo! I think it's this. And it might be 45 days.

Re: No Score Change Question

Anonymous — Mon, 21 Aug 2017 02:10:05 GMT

@medicgrrl wrote:
Aren't mortgage pulls different in that they count as one and don't affect the scores until after 30 days or something along those lines?

Duh! I am a total moron. Yes. These are all mortgage pulls. Therefore they have zero scoring impact for the first 30 days. This is why our OP should be experiencing zero scoring impact.

Even after that, the inquiries will be grouped and counted as a single inquiry if done within the same 14-day window. Therefore our OP doesn't really need to worry about the extra duplicate inquiry for EQ and EX.

Re: No Score Change Question

Anonymous — Mon, 21 Aug 2017 02:35:34 GMT

Perhaps, but they are only grouped for scoring purposes, so in terms of raw count they still all count as inquiries, so I would remove them if possible given a reasonable amount of effort.

Re: No Score Change Question

Anonymous — Mon, 21 Aug 2017 03:04:51 GMT

@Anonymous wrote:
Perhaps, but they are only grouped for scoring purposes, so in terms of raw count they still all count as inquiries, so I would remove them if possible given a reasonable amount of effort.

Hi Zipper. By "raw count" do you mean a loan officer doing a manual review could see the extra inquiry? This is certainly true, but that may never happen to our OP. His applications for credit in the next two years may be evaluated by score alone (or score plus income, etc.). And if a loan officer does do a manual review, he will likely see that it was multiple mortgage inquiries done at the same time. Loan officers are trained to understand that people do loan shopping -- many people have a dozen auto or mortgage inquiries around the same time.

I am not telling the OP not to get it deleted -- just making sure he knows there will be no impact to his score. If, knowing that, he will be a lot happier getting on the phone and trying to get it deleted, then that's fine. Just wanted to make sure he had all the info he needed to make a decision.

Re: No Score Change Question

Anonymous — Mon, 21 Aug 2017 03:15:17 GMT

No, you are perfectly correct; but since we don't know the future, if they could be easily removed (yeah, unlikely in real life) I think I would choose to do so. But right, same impact to score either way.

Re: No Score Change Question

Anonymous — Mon, 21 Aug 2017 03:23:11 GMT

I completely overlooked that the OP stated that these pulls were for a mortgage. Great catch, MG!

Re: No Score Change Question

MrTom — Sat, 26 Aug 2017 14:42:27 GMT

@SouthJamaica wrote:
@MrTom wrote:
I use Experian's credit tracker subscription. It givesme FICO8 with daily pulls from all 3 cb at no extra charge.
@Anonymous wrote:
When were the inquiries? And what credit monitoring system are you using?

Daily pulls from all 3 bureaus? What is the exact name of the service you're subscribing to?

I use Experian. Every day my Experian score automatically updates. I have to re-orde my 3B report every day to get my daily pull. Seeing I have a monthly subscription there is no charge for ordering a 3B report.

Re: No Score Change Question

Anonymous — Sat, 26 Aug 2017 16:05:42 GMT

@MrTom wrote:
@SouthJamaica wrote:
@MrTom wrote:
I use Experian's credit tracker subscription. It givesme FICO8 with daily pulls from all 3 cb at no extra charge.
Daily pulls from all 3 bureaus? What is the exact name of the service you're subscribing to?
I use Experian. Every day my Experian score automatically updates. I have to re-orde my 3B report every day to get my daily pull. Seeing I have a monthly subscription there is no charge for ordering a 3B report.

Hi Mr. Tom! Experian owns a number of different products, all of which offer credit monitoring services with different features. That's why SouthJ asked for the exact name of the product. He was trying to identify which one you have.

Here are a few that Experian owns:

Credit Check Total

Experian CreditWorks Basic

Experian CreditWorks Premium

It sounds from an earlier post that you may have a product called Experian Credit Tracker:

https://www.androidheadlines.com/2015/05/sponsored-app-review-experian-credit-tracker.html

It appears to be available only for mobile devices, and the review doesn't mention the words "Equifax" or "TransUnion" so it seems as though you only get Experian data. It does appear to give daily updates to the report and score and it appears to cost $22/mo.

Could you go to the web page that offers the service ypu have and tell us its name? If you give us a link to it that would also help.

Re: No Score Change Question

MrTom — Sat, 26 Aug 2017 17:02:36 GMT

@Anonymous wrote:
@MrTom wrote:
@SouthJamaica wrote:
@MrTom wrote:
I use Experian's credit tracker subscription. It givesme FICO8 with daily pulls from all 3 cb at no extra charge.
Daily pulls from all 3 bureaus? What is the exact name of the service you're subscribing to?
I use Experian. Every day my Experian score automatically updates. I have to re-orde my 3B report every day to get my daily pull. Seeing I have a monthly subscription there is no charge for ordering a 3B report.
Hi Mr. Tom! Experian owns a number of different products, all of which offer credit monitoring services with different features. That's why SouthJ asked for the exact name of the product. He was trying to identify which one you have.

Here are a few that Experian owns:
      Credit Check Total
      Experian CreditWorks Basic
      Experian CreditWorks Premium

It sounds from an earlier post that you may have a product called Experian Credit Tracker:

https://www.androidheadlines.com/2015/05/sponsored-app-review-experian-credit-tracker.html

It appears to be available only for mobile devices, and the review doesn't mention the words "Equifax" or "TransUnion" so it seems as though you only get Experian data.   It does appear to give daily updates to the report and score and it appears to cost $22/mo.

Could you go to the web page that offers the service ypu have and tell us its name? If you give us a link to it that would also help.

I had to look back on my orgional sign up email with Experian. But Experian lists me down having Experian Credit Tracker. The Phone app updates everyday for experian. For Transunion and Equifax I have to sign into the website, and reorder my 3B reports. I pay 24.99 a month. Once I order my 3B reports online I can view the new reports for the other 2 on my phone.

When I look online, it looks like Experian CreditWorksSM Premium best matches the descritpion.

Re: No Score Change Question

Anonymous — Sat, 26 Aug 2017 18:06:12 GMT

How often are you allowed to reorder your 3B report? (And get a fresh pull with brand new data?)

Re: No Score Change Question

MrTom — Sat, 26 Aug 2017 22:17:35 GMT

once a day.

Re: No Score Change Question

Anonymous — Mon, 28 Aug 2017 05:45:13 GMT

You felt like the product you likely had is CreditWorks Premium. But according to their web page you only get a new 3B report once a month. It's only EX that you get daily.

http://www.experian.com/consumer-products/compare-credit-report-and-score-products.html