https://ficoforums.myfico.com/t5/Understanding-FICO-Scoring/Understanding-FICO-score-gain-and-loss/m-p/5269270#M140514 <P>Yeah, that sounds reasonable.&nbsp; But with this caveat...</P><P>&nbsp;</P><P>Trying to spend too much time guessing the exact details of what the algorithm may be doing is generally a mug's game.&nbsp; All you need to know (which you knew beforehand) is that inquiries tend to hurt your score and never help it.&nbsp; And you likely also know that any given inquiry stops hurting your score after a year.&nbsp; That's enough for making practical decisions.</P><P>&nbsp;</P><P>If your primary goal is to raise your score, your next steps are simple.&nbsp; Stop applying for cards (you have seven already).&nbsp; Pay off all cards (and then begin using at least one for small purchases, keeping utilization &lt; 9%).&nbsp; Begin a long campaign to get all derogs removed via goodwill letters.&nbsp; And avoid trying to guess too much what might be going on day to day with your score.</P><P>&nbsp;</P><P>PS.&nbsp; I observe that you have already have three credit cards that charge an annual fee (CreditOne, OpenSky, Amex Gold SkyMile) and that you were trying to get a fourth card with an annual fee (the Amex Gold charge card).&nbsp; As a purely financial move, I encourage you to move in the opposite direction.&nbsp; I.e. rather than increasing the number of fees you pay to CC issuers, develop a plan over time to reduce or eliminate all fees.</P> Mon, 11 Jun 2018 14:11:12 GMT Anonymous 2018-06-11T14:11:12Z https://ficoforums.myfico.com/t5/Understanding-FICO-Scoring/Understanding-FICO-score-gain-and-loss/m-p/5269236#M140513 <P>Looking to understand how FICO scoring works. Any clarification or help is appreciated. Here's the scenario:</P><P>&nbsp;</P><P>- On 6/1, my Experian FICO 8 score increased to 625</P><P>- Same day, I apped for the AMEX Gold Charge card (denied)</P><P>- Same day, thanks to Credit Check Total, I see that my Experian score drops to 617 due to the new inquiry (7 total in last 12 months)</P><P>- On 6/8, my Experian score increased to 630</P><P>&nbsp;</P><P>Is it safe to say that my Experian score COULD be at 638 but is being held back by 8 points due to amount of inquiries?</P> Mon, 11 Jun 2018 13:12:41 GMT https://ficoforums.myfico.com/t5/Understanding-FICO-Scoring/Understanding-FICO-score-gain-and-loss/m-p/5269236#M140513 19eighty5 2018-06-11T13:12:41Z https://ficoforums.myfico.com/t5/Understanding-FICO-Scoring/Understanding-FICO-score-gain-and-loss/m-p/5269270#M140514 <P>Yeah, that sounds reasonable.&nbsp; But with this caveat...</P><P>&nbsp;</P><P>Trying to spend too much time guessing the exact details of what the algorithm may be doing is generally a mug's game.&nbsp; All you need to know (which you knew beforehand) is that inquiries tend to hurt your score and never help it.&nbsp; And you likely also know that any given inquiry stops hurting your score after a year.&nbsp; That's enough for making practical decisions.</P><P>&nbsp;</P><P>If your primary goal is to raise your score, your next steps are simple.&nbsp; Stop applying for cards (you have seven already).&nbsp; Pay off all cards (and then begin using at least one for small purchases, keeping utilization &lt; 9%).&nbsp; Begin a long campaign to get all derogs removed via goodwill letters.&nbsp; And avoid trying to guess too much what might be going on day to day with your score.</P><P>&nbsp;</P><P>PS.&nbsp; I observe that you have already have three credit cards that charge an annual fee (CreditOne, OpenSky, Amex Gold SkyMile) and that you were trying to get a fourth card with an annual fee (the Amex Gold charge card).&nbsp; As a purely financial move, I encourage you to move in the opposite direction.&nbsp; I.e. rather than increasing the number of fees you pay to CC issuers, develop a plan over time to reduce or eliminate all fees.</P> Mon, 11 Jun 2018 14:11:12 GMT https://ficoforums.myfico.com/t5/Understanding-FICO-Scoring/Understanding-FICO-score-gain-and-loss/m-p/5269270#M140514 Anonymous 2018-06-11T14:11:12Z