topic Re: SW Inquiry alert - language incorrect? in myFICO® Forums Technical Help

SW Inquiry alert - language incorrect?

MidnightVoice — Thu, 22 Nov 2007 19:24:07 GMT

I got a SW inq alert recently, a 7 point decrease for the second EQ inq in 12 months. It says:

You only receive inquiry alerts as the result of applying for new credit accounts or opening a new account with a lender. These are the only types of inquiries that affects your FICO® score.

I know it is nit-picking, but that ain't exactly true. I recieved an inq from AT&T for EXTENDING my contract, and another from Chase for a CLI. Neither of these involved "new" credit or "new" accounts.

My problem is that I suffered what was known as a "classical education" and they tried to teach me to use English accurately

Re: SW Inquiry alert - language incorrect?

haulingthescoreup — Fri, 23 Nov 2007 12:01:52 GMT

@MidnightVoice wrote:
My problem is that I suffered what was known as a "classical education" and they tried to teach me to use English accurately

You and I need to become the FICO usage and grammar police! I go nuts with the sim that says to pay my $327 revolving debt down over 24 months. No, that's not what you're trying to say, FICO, try that again.

It's confusing enough trying to figure out credit, without getting messages like these as well.

Re: SW Inquiry alert - language incorrect?

Tuscani — Fri, 23 Nov 2007 13:18:02 GMT

An inq in an inq is an inq... FICO cannot determine whether or not you are applying for new or extending an existing contract. I think your beef should be with the cell company. Why would they need to pull a hard on a long standing honest customer??

Re: SW Inquiry alert - language incorrect?

MidnightVoice — Fri, 23 Nov 2007 16:54:52 GMT

@Tuscani wrote:
An inq in an inq is an inq... FICO cannot determine whether or not you are applying for new or extending an existing contract. I think your beef should be with the cell company. Why would they need to pull a hard on a long standing honest customer??

I do have the beef with AT&T. And I understand an inq is an inq - I just wanted SW's language to reflect that

Re: SW Inquiry alert - language incorrect?

Barry — Sat, 24 Nov 2007 18:51:44 GMT

You are absolutely correct, Midnight, about the two examples of inquiries coming up short. And the beef you and Hauling share about poor grammar throughout the site is one that I have also shared for a long time. We have some new folks responsible for such content these days and I'm confident things will start to get better in that area.

I will submit a correction for the inquiry alert explanation to include other inquiry situations that can affect your score, and will recommend something better than the "pay my $327 revolving debt down over 24 months" kind of language in the simulator and elsewhere.

Thanks for helping keep us honest!

-Barry

Re: SW Inquiry alert - language incorrect?

MidnightVoice — Sat, 24 Nov 2007 19:29:06 GMT

Barry:

Thank you kind sir. Personally it does not bother me as, thanks in large part to this place, I understand this stuff much better than I used to!

But I think it would be better for all concerned (You and new folks) if MyFICO was as accurate as possible. I think it will help Fair Isaac's push for education of the consumer to get it better, and I am assuming there are valid business reasons for FI wanting more educated consumers.

Re: SW Inquiry alert - language incorrect?

haulingthescoreup — Sat, 24 Nov 2007 23:59:42 GMT

@Barry wrote:
You are absolutely correct, Midnight, about the two examples of inquiries coming up short. And the beef you and Hauling share about poor grammar throughout the site is one that I have also shared for a long time. We have some new folks responsible for such content these days and I'm confident things will start to get better in that area.
I will submit a correction for the inquiry alert explanation to include other inquiry situations that can affect your score, and will recommend something better than the "pay my $327 revolving debt down over 24 months" kind of language in the simulator and elsewhere.
Thanks for helping keep us honest!
-Barry

Woo-hoo! hiring alert for English majors! Thanks, Barry. No one understands the curse of a classical education...