Inquiries killing score

[natesezgoblue]

The inquiries are killing my score.  Ive had 4 hard pulls for mortgage in the last 90 days.  Dropped my score 25pts across the board.

The first from one bank we didnt choose to go with.

The next from the bank we decided to go with but my score was 10 pts to low. 

A month later when the score qualified.

Again friday at closing.  It was just a refresh but still showed up as a hard pull.

in addition i had 3 inquires back in march when i got a new car.

How long does it take to rebound from the hit?

[RJA]

I feel your pain.   I have the same issue - lender pulls for a total of 7 each report.  3 from a lender I decided not to use and 4 from the current one.  I haven't even closed yet.

I don't know how long your scores will take to bounce back though.

[natesezgoblue]

i always thought that if they inquiries were made within a small time frame that they wouldnt hurt.  Hopefully the finally having a mortgage will give me boost in score.

[foofighter74]

Depending on the credit bureau, your scores will not drop from inquiries for 30-45 days no matter how many times your credit is pulled.  After that, they are treated as one inquiry if they all happened in that timeframe.  However, once you go outside that timeframe, the clock starts again. 90 days is 2-3 cycles. Probably should have gotten copies of the credit reports from the first bank and taken them to the second bank. 

As for recovering the points, obviously recovery time depends on your entire credit file.  As the inquiries age, they will have less of an impact. But it takes time.

[MortBankerRyan]

Natesezgoblue,

Congrats on your closing!  Are you sure no balances changed on the reports?  Every debtor reports at different times of the month so sometimes scores will change just with different information.  Slight changes in balances can lower or raise a score quite a bit.  IF the drop was solely due to inquiries it will have less effect on the score over the next 30-120 days.  After 120 days it will not even show up on the credit report banks use.

Edited to remove name and website.  guiness56, myFICO Moderator.