topic Re: Effect of FICO Credit Inquiries in Understanding FICO® Scoring

Effect of FICO Credit Inquiries

Anonymous — Mon, 10 Aug 2009 23:04:27 GMT

I want to keep tabs on my credit. My last inquiry into FICO was 3 months ago.

Will I be penalized for making non credit seeking inquires?

Re: Effect of FICO Credit Inquiries

smallfry — Mon, 10 Aug 2009 23:42:35 GMT

In the sense they count yes you will.

Re: Effect of FICO Credit Inquiries

Anonymous — Tue, 11 Aug 2009 02:28:11 GMT

I could be wrong but I believe he's talking about doing a softpull so he can see his own score / repot? If that's the case I'm pretty sure it doesn't hurt your score but I'm no expert.

Re: Effect of FICO Credit Inquiries

smallfry — Tue, 11 Aug 2009 09:54:19 GMT

OP's question is not totally clear. If he is looking at his own reports it will not be a hard pull and won't hurt his credit. People have received lots of inquiries while not seeking credit.

Re: Effect of FICO Credit Inquiries

jackg — Tue, 11 Aug 2009 18:21:27 GMT

Terry,

There is NO PENALTY for viewing your own credit report no matter how it occured. Perhaps you might be confused by the definition of words being used in this forum.

1. You said "My last inquiry into FICO was 3 months ago." What is implied in this statement is that there was a "soft pull" recorded in the promotional inquiries section of your report.

2. An inquiry from a creditor as a result of you applying for a CC, mortgage, line of credit, or auto loan is called a "hard pull"

3. In this forum what you did would normally be referred to as pulling your credit report or something similiar.

The more you visit the more you will become familiar with the "lingo" used here. Also, I congradulate you for being proactive about your credit reports and there is much to be learned here.

Good Luck

Re: Effect of FICO Credit Inquiries

RobertEG — Wed, 12 Aug 2009 10:23:50 GMT

Inquiries by a consumer are recorded in your CR, but are totally disregarded in any FICO scorng.