topic Inquiry bumps score? in Understanding FICO® Scoring

Inquiry bumps score?

Imhotrodcrazy — Sat, 18 Apr 2015 19:07:13 GMT

Well, it seems the more I read, the more I try to analyze, the longer I am here, the less I wind up knowing about scoring. I think we all expect a drop in scores when we apply for a card. I just applied yesterday for a Venture, was approved, and was waiting for the alerts to come in dropping my score below 800. Today I receive an alert from myfico telling me that my Ex report has a new Cap one inquiry and my score has changed from 806 to 808. I had to read that a couple of times. Anyway, I am very happy that I got a bump from the inquiry and not a hit. I am sure it will be short lived however when a "new account" is noted. I won't try to figure out scoring anymore, it's just not possible. Just thought I would share part of the outcome with my new Venture app with you all.

Update: Just got an alert today, ( 4-18 ), from myfico, that my EQ just reported an inquiry from Capone, and there was no change in my score. so far so good.

Re: Inquiry bumps score?

gdale6 — Sat, 18 Apr 2015 18:33:30 GMT

@Imhotrodcrazy wrote:
Well, it seems the more I read, the more I try to analyze, the longer I am here, the less I wind up knowing about scoring. I think we all expect a drop in scores when we apply for a card. I just applied yesterday for a Venture, was approved, and was waiting for the alerts to come in dropping my score below 800. Today I receive an alert from myfico telling me that my Ex report has a new Cap one inquiry and my score has changed from 806 to 808. I had to read that a couple of times. Anyway, I am very happy that I got a bump from the inquiry and not a hit. I am sure it will be short lived however when a "new account" is noted. I won't try to figure out scoring anymore, it's just not possible. Just thought I would share part of the outcome with my new Venture app with you all.

The inquiry is just the trigger for the update and not the cause of rise. The net result of things changed in your reports overcame the loss of points the inq caused.

Re: Inquiry bumps score?

MarineVietVet — Sat, 18 Apr 2015 18:36:16 GMT

@Imhotrodcrazy wrote:
Well, it seems the more I read, the more I try to analyze, the longer I am here, the less I wind up knowing about scoring. I think we all expect a drop in scores when we apply for a card. I just applied yesterday for a Venture, was approved, and was waiting for the alerts to come in dropping my score below 800. Today I receive an alert from myfico telling me that my Ex report has a new Cap one inquiry and my score has changed from 806 to 808. I had to read that a couple of times. Anyway, I am very happy that I got a bump from the inquiry and not a hit. I am sure it will be short lived however when a "new account" is noted. I won't try to figure out scoring anymore, it's just not possible. Just thought I would share part of the outcome with my new Venture app with you all.

Join the club HR!

I long ago stopped thinking about the "why" of all this and just concentrate on doing the right things.

Re: Inquiry bumps score?

Anonymous — Sat, 18 Apr 2015 18:36:25 GMT

@gdale6 wrote:
@Imhotrodcrazy wrote:
Well, it seems the more I read, the more I try to analyze, the longer I am here, the less I wind up knowing about scoring. I think we all expect a drop in scores when we apply for a card. I just applied yesterday for a Venture, was approved, and was waiting for the alerts to come in dropping my score below 800. Today I receive an alert from myfico telling me that my Ex report has a new Cap one inquiry and my score has changed from 806 to 808. I had to read that a couple of times. Anyway, I am very happy that I got a bump from the inquiry and not a hit. I am sure it will be short lived however when a "new account" is noted. I won't try to figure out scoring anymore, it's just not possible. Just thought I would share part of the outcome with my new Venture app with you all.
The inquiry is just the trigger for the update and not the cause of rise. The net result of things changed in your reports overcame the loss of points the inq caused.

If you had a nickel for everytime you had to post that... haha

Re: Inquiry bumps score?

lg8302ch — Sat, 18 Apr 2015 18:48:39 GMT

@MarineVietVet wrote:
@Imhotrodcrazy wrote:
Well, it seems the more I read, the more I try to analyze, the longer I am here, the less I wind up knowing about scoring. I think we all expect a drop in scores when we apply for a card. I just applied yesterday for a Venture, was approved, and was waiting for the alerts to come in dropping my score below 800. Today I receive an alert from myfico telling me that my Ex report has a new Cap one inquiry and my score has changed from 806 to 808. I had to read that a couple of times. Anyway, I am very happy that I got a bump from the inquiry and not a hit. I am sure it will be short lived however when a "new account" is noted. I won't try to figure out scoring anymore, it's just not possible. Just thought I would share part of the outcome with my new Venture app with you all.
Join the club HR!

I long ago stopped thinking about the "why" of all this and just concentrate on doing the right things.

oh...but it is so much fun to investigate the Fico algorithm and very interesting if you all the sudden realize what actually did the trigger. I think I would cancel SW if I would loose interest in finding out what did trigger a score change especially if the alert is not showing the main reason. ... ha ha

Re: Inquiry bumps score?

Imhotrodcrazy — Sat, 18 Apr 2015 19:11:12 GMT

@MarineVietVet wrote:
@Imhotrodcrazy wrote:
Well, it seems the more I read, the more I try to analyze, the longer I am here, the less I wind up knowing about scoring. I think we all expect a drop in scores when we apply for a card. I just applied yesterday for a Venture, was approved, and was waiting for the alerts to come in dropping my score below 800. Today I receive an alert from myfico telling me that my Ex report has a new Cap one inquiry and my score has changed from 806 to 808. I had to read that a couple of times. Anyway, I am very happy that I got a bump from the inquiry and not a hit. I am sure it will be short lived however when a "new account" is noted. I won't try to figure out scoring anymore, it's just not possible. Just thought I would share part of the outcome with my new Venture app with you all.
Join the club HR!

I long ago stopped thinking about the "why" of all this and just concentrate on doing the right things.

M V V, God knows I love those scores you have. Hope I can get their some day.

Re: Inquiry bumps score?

MarineVietVet — Sat, 18 Apr 2015 21:38:44 GMT

@Imhotrodcrazy wrote:
@MarineVietVet wrote:
@Imhotrodcrazy wrote:
Well, it seems the more I read, the more I try to analyze, the longer I am here, the less I wind up knowing about scoring. I think we all expect a drop in scores when we apply for a card. I just applied yesterday for a Venture, was approved, and was waiting for the alerts to come in dropping my score below 800. Today I receive an alert from myfico telling me that my Ex report has a new Cap one inquiry and my score has changed from 806 to 808. I had to read that a couple of times. Anyway, I am very happy that I got a bump from the inquiry and not a hit. I am sure it will be short lived however when a "new account" is noted. I won't try to figure out scoring anymore, it's just not possible. Just thought I would share part of the outcome with my new Venture app with you all.
Join the club HR!

I long ago stopped thinking about the "why" of all this and just concentrate on doing the right things.
M V V, God knows I love those scores you have. Hope I can get their some day.

You're not that far away HR.

You should be very proud that your hard work has resulted in all 800's.

Re: Inquiry bumps score?

Imhotrodcrazy — Sun, 19 Apr 2015 17:37:52 GMT

@MarineVietVet wrote:
@Imhotrodcrazy wrote:
@MarineVietVet wrote:
@Imhotrodcrazy wrote:
Well, it seems the more I read, the more I try to analyze, the longer I am here, the less I wind up knowing about scoring. I think we all expect a drop in scores when we apply for a card. I just applied yesterday for a Venture, was approved, and was waiting for the alerts to come in dropping my score below 800. Today I receive an alert from myfico telling me that my Ex report has a new Cap one inquiry and my score has changed from 806 to 808. I had to read that a couple of times. Anyway, I am very happy that I got a bump from the inquiry and not a hit. I am sure it will be short lived however when a "new account" is noted. I won't try to figure out scoring anymore, it's just not possible. Just thought I would share part of the outcome with my new Venture app with you all.
Join the club HR!

I long ago stopped thinking about the "why" of all this and just concentrate on doing the right things.
M V V, God knows I love those scores you have. Hope I can get their some day.
You're not that far away HR.

You should be very proud that your hard work has resulted in all 800's.

M V V, yes I am proud of my 800 scores, but 850 across the board blows my mind. That, my friend, is unbelievable. A big congrats to you.

Re: Inquiry bumps score?

MarineVietVet — Sun, 19 Apr 2015 19:16:02 GMT

I'm pretty sure if I pulled today that none of them would be still pegged out. That's just the way scoring goes.

From time to time someone will accuse me of somehow photoshopping those pictures but I can't do anything about that.

Re: Inquiry bumps score?

Imhotrodcrazy — Mon, 20 Apr 2015 00:26:39 GMT

@MarineVietVet wrote:
I'm pretty sure if I pulled today that none of them would be still pegged out. That's just the way scoring goes.

From time to time someone will accuse me of somehow photoshopping those pictures but I can't do anything about that.

I don't think I would ever pull my credit reports again if I had those scores. I would not want to see a drop of one point, it would kill me. As far as someone accusing you of photoshopping those scores, that would be about as rude as they could get. I think those people figure that it is an impossible thing for them to do, so they figure it is would be impossible for you to do, and that is pretty shallow thinking on their part. So, I wouldn't worry about what they thought and just be proud of what you have accomplished.

Re: Inquiry bumps score?

Repairman — Wed, 06 May 2015 15:56:03 GMT

@Imhotrodcrazy wrote:

I just applied yesterday for a Venture, was approved, and was waiting for the alerts to come in dropping my score below 800. Today I receive an alert from myfico telling me that my Ex report has a new Cap one inquiry and my score has changed from 806 to 808.

The same thing happened to me. I applied for that card last week and was approved, and it bumped my score 5 points!