@CreditCloud wrote:
I was told by many that the higher your credit scores are, the more severe the "ding" and my scores are all above 820. A friend recently had a HP which only took off 10 pts & her scores were all approx 710, & yet another friend (who had scores around 790) received an HP & his took off 25--ish points off. Both were fico scores.
That's actually the exact opposite of what's typical for people with 800+ fico scores. Typically someone with 800+ scores will only see a drop of around 5 to 10 points for a single HP... max. If there's been additional recent inquiries, or things such as a significant increase in reported utilization, lowered credit limits, closure of accounts.... those things combined with a HP could trigger a more significant points loss from a HP. But generally the bigger hit will come from the new account reporting, especially, as mentioned, if your newest account is more than 12 months old.
If your reports are clean with no significant changes, or recent significant increase in reported utilization, there's no way you're taking a hit for 50 to 60 points for an inquiry. The last inquiry I had with all scores 800+ cost me 3 points.
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