Credit pull increased my score

michaelstep · ‎10-03-2008

the only changes on my credit was 3 credit pulls for an auto loan. I did not get any loans, just pulled credit. WHy in the world did it raise my score 20 points? i have seen applying for and getting new credit in a badcock revolving account raise it up 30 points, but never just a credit pull which is supposed to lower it. anybody have any info on this?

haulingthescoreup · ‎10-03-2008

Did anything else happen on your reports? We're at the beginning of the month; did you have any accounts that turned one year old? (or six months, or three months) Any baddies hit a birthday?

Generally speaking, there are all sorts of little background things going on with credit reports that can change scores.

* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007

Anonymous · ‎10-03-2008

Was that really the only change?

What about aging?

michaelstep · ‎10-03-2008

well, that is tru. I was going off credit alerts. 20 points is a pretty big jump for nothing major to have changed. I only monitor EQ. I will look into it a bit farther and just see. its my wifes credit and it doesnt have hardly anything on it. 2 credit cards, 1 auto loan with me....thats it i believe.

haulingthescoreup · ‎10-03-2008

michaelstep wrote:

well, that is tru. I was going off credit alerts. 20 points is a pretty big jump for nothing major to have changed. I only monitor EQ. I will look into it a bit farther and just see. its my wifes credit and it doesnt have hardly anything on it. 2 credit cards, 1 auto loan with me....thats it i believe.

With "thin files", scores can be exquisitely sensitive to any change at all. Same for those with uber-high scores.

* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007

michaelstep · ‎10-03-2008

I just checked, and no accounts aged. It reports when a balance increase is reported...but what about a decrese? I dont really remember. I didnt see a spot for it. we have a lot of credit card debt and we have cut them up and are no longer using them, so the balance is slowly going down. I guess maybe it could have reported a new descrease i am not aware of.

haulingthescoreup · ‎10-03-2008

I save all my myFICO reports to disk; others print them out.

Chances are, your wife's (if I read that right) util dropped below one of the "tiers" (util ranges), and her scores increased as a result.

* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007

Anonymous · ‎10-04-2008

Might be because the sun has no sunspots at this time.

Sometimes credit scores fluctuate for no apparent reason. As long as the fluctuations don't trend steadily down, I wouldn't worry about it.

Anonymous · ‎10-04-2008

Can your score go up from seeking new credit.... YES.

It depends on the situation. 20 point gain seems extremely unlikely. I would be willing to bet the change had to do around an older account aging, age it self even avg age or activity on another account or even an account that went dormant over 6 months, ect.

20 points seems more likely something else. But yes some people are rewarded for seeking credit believe it or not.

We are talking about FICO scores correct? I don't know how other scoring formulas called FAKOs treat inqs. Either way congrats on the score jump.