persistent98 wrote:
We're currently trying to get my husbands score back up with Experian, it went from a 628 Oct 5 to 602 Nov 16 (LO pull). My fellow ficoers figured he was rebucketed because he had 3 collections dropped and 1 new deferred student loan added. Will we need to have the lender keep pulling his EX fico, if we do will that hurt him more than help? (additional inquiries?) His vantage score on Experian's site has stayed at a 630 since Oct 5, so i don't trust that score. We were told this inquiry done on Nov 16 wouldn't drop his score since we just pulled Oct. 5, but how can we know that for sure? We're wanting to buy a house and need that EX at a 620, but we're not sure how to eye it without the lender pulling???
Each time the lender pulls his EX, he'll get dinged with an inquiry. IMO, I'd stop it and save the next pull for a later date. Inquiries (mortgage and auto) pulled within a 14-45 days window count as one singe inquiry per FICO scoring. I think, the 45 day window is set in place for the newer generation of FICO scores, rather than the version most commonly used now. I think both are hurting your score now. However, with that said, inquiry damage is overrated and shouldn't be fretted over anyway. Nonetheless, I'd hold off on any pulls.
Between now and crunch time, I would do 100% of what you need to do to bring up his scores. Then at crunch time, you can ask your LO to pull and know you did everything you could to bring up your scores.
