topic Re: Hard pull=increased fico score? in Mortgage Loans

Hard pull=increased fico score?

bubbles0605 — Thu, 16 Oct 2008 13:29:51 GMT

We are trying for a FHA loan right now, and everything looks good so far. BUT when they pulled my cr i got a myfico alert and it said your score increased by 4 points! huh? isnt that strange?

Re: Hard pull=increased fico score?

ShanetheMortgageMan — Thu, 16 Oct 2008 18:15:02 GMT

Very odd. Has there been little to no recent activity on your credit? Sometimes just having something recent is better than having nothing recent.

Re: Hard pull=increased fico score?

Donna1966 — Thu, 16 Oct 2008 20:25:25 GMT

It also could be that you had a lower balance report on an open account the same day as the inquiry, thus counter balancing the offset of the inquiry. It could move your utiliziation % down, thereby increasing your score as the inquiry was hitting it.

Re: Hard pull=increased fico score?

Anonymous — Fri, 17 Oct 2008 01:38:13 GMT

Or maybe some tradelines had birthdays? When an account (good or bad) turns one or two years old, it helps.

Re: Hard pull=increased fico score?

Anonymous — Thu, 30 Oct 2008 23:14:34 GMT

It is very likely just a coincidence. It is more likely that something else changed on your credit report like a balance that simutaneously improved your score.

Gary