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So when I thought that new credit inquiries would either lower or have no impact on your FICO scores, I received notice from myFico that a new credit inquiry increased my FICO score ... EX by 8 and EQ by 2. As a background, I applied for a NASA PLOC which triggered a HP on EX and a CLOC with NFCU (triggered HP on EP). Is is something about credit inquires for those type of loans? Now I'm really confused about how credit inquiries may impact scores and I 'm hoping that the vast knowledge in this Forum can provide some insight. After reading many threads in this forum, I thought my knowledge on credit was pretty good... Well nope... back to elementary school I go!
This was discussed in a thread a few days ago. Something else must have reported at the same time as you INQ that triggered the increase. INQs do not raise a credit score. Either your UTL was lowered, it was your accounts aging, or somethign dropped off. Since the increases were so small I would assume it had to do with aging or UTL.
However, I am confident in saying it was not due to the INQ. It was just a coincidence.
Thanks to you both for your advice. I was approved for both and it probably did help my UTIL.
As others have mentioned, sometimes I'll have a balance decrease and an inquiry show up at the same time, and both will say a score increase, but it was actually only due to the balance decrease.