CC inquiry value

[Anonymous]

3 HPS are to be lifted today. Exciting, right? 

While I realize sliding scales differ and CBs report differently, I ask, does anyone know of a range of value for 1 inquiry? Is it true that every inquiry is approx valued at a range -2 or -3? 

[Countingpennies]

For me, it's been 2 to 4, and it has varied, probably due to what else was on my reports at the time, but usually any new inq. knocks off 4 points. YMMV.

[Anonymous]

thanks. im just irked that there is no transparency with these companies. 

[Involver]

I was thinking this would be about monetary value.

The number of INQs, in my opinion, can be far more damaging in realistic terms than in scoring terms.  

[Anonymous]

excellent point, Involver. and i find it so stupid that we are penalized if we want to essentially verify our credit/information to a lender. it's similar to, say, if we had to pay  everytime  we proved our identity/age at a bar. just ridiculous 

[gdale6]

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@Anonymous wrote:

3 HPS are to be lifted today. Exciting, right? 

While I realize sliding scales differ and CBs report differently, I ask, does anyone know of a range of value for 1 inquiry? Is it true that every inquiry is approx valued at a range -2 or -3? This is false, the point value of an inquiry depends on where your FICO score actually is at the time of the inquiry. The higher the score the more points it can be, In the 800s it can be 20+ points a piece...

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[Jamielei24]

I recently inquired for Chase slate... 11pts off myfico EQ! It's what the online app pulled. TU for CLI recon, CK dropped 2 pts (I dont use this for anything as it doesn't show all of my accounts).  Chase is also the only inquiry I've had in over 2 yrs other then car last May.

long story short I expected a few pts but not 11!! (702 to 691 overnight)

[Creditaddict]

The problem with scoring, INQ's etc. is it's going to be different for EVERYONE... person with extremely high fico's with no INQ's and no new accounts, etc. will take HUGE hits for 1, someone like me who never really stops applying, I don't see ANYTHING happen... and really all my new accounts and my scores have only gone up! now for computers and manual reviews, the INQ's and new accounts are starting to pose problems with some but score, nope!

[coldnmn]

A friend had a 817 and only lost 6 points for a new TL and inquiry.  So it's very much YMMV.

[Anonymous]

It depends on my credit file at the time. Generally 2 to 8 points.