Crossing the 4 inquiry mark?

[Swatch]

Is there an extra score penalty for getting a 4th inquiry in the last 6 mo? I am curious for both Experian and Transunion. I know it depends a lot, but what would be an approximate point drop for the 4th? I know it probably depends a lot on which scoring model is used.

[SouthJamaica]

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@Swatch wrote:

Is there an extra score penalty for getting a 4th inquiry in the last 6 mo? I am curious for both Experian and Transunion. I know it depends a lot, but what would be an approximate point drop for the 4th? I know it probably depends a lot on which scoring model is used.

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I am not aware of any magic  numbers here. There are no doubt different thresholds for different scoring models.  If I'm not mistaken, 2 inquiries in 12 months is a threshold.

[House2021]

I lost 9 mortgage points going from 5-6

[SouthJamaica]

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@House2021 wrote:

I lost 9 mortgage points going from 5-6

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Can you be sure it was (a) the cause and (b) the only cause?

[House2021]

SouthJamaica yes I'm sure, I have Experian with mortgage scores and I checked it in the morning and it changed that morning, then midday after an inquiry it dropped 9 points, I was stunned. 

[LooksAreDeceiving]

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@House2021 wrote:

SouthJamaica yes I'm sure, I have Experian with mortgage scores and I checked it in the morning and it changed that morning, then midday after an inquiry it dropped 9 points, I was stunned. 

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Are you stating that the score changed at those times?

[House2021]

Yes score changed in the morning when a charge off reported paid then I received another update with a point loss that afternoon following my credit being pulled for a mortgage.

[Eyepinpools]

I don't know what my drop was for my 4th inq but I lost 7pts on my 5th inquiry on Experian from 757 to 750. Only change was the inquiry so I'm positive that was the cause. 

[Eyepinpools]

Lost another 7 pts going from 5 to 6 inquiries 

[Anonymous]

I dont think it is a set rule. It depends on the rest of your CR. I have had a lot of inquries this year as I have 19 new credit cards over the last year and a new car loan. When I started my average score was 776. Today it is 773. And the drop may not even be from inquries. I have a very thick credit file but I never seem to loose points due to inquries.

Thanks

Mark