Do dings from HPs have a limit?

[ztnjpv]

Has anyone noticed if, beyond a certain number of hard pulls, they cease to lower your score?

[Repo-ed]

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@ztnjpv wrote:

Has anyone noticed if, beyond a certain number of hard pulls, they cease to lower your score?

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No. The more HPs, the more dings to your score.

[ztnjpv]

Oh well. I thought maybe....just MAYBE...once you reach a certain number, the effect might sort of plateau or at least not hurt as much.

OTOH, is it true that they no longer affect your score after one year on your report? 

I want to apply for another personal card but, being a business owner, I suffer dings for non personal credit items. Kinda irritating. 

[bettercreditguy1]

Generally speaking, the damage starts wearing off after one year. There is a chart floating around here that actually shows the full impact of a hp zeroing out after two years.

If I recall correctly, after one full year, you regain about 68 % of the ding from the hard pull with the balnce being recovered after about two years.

[MarineVietVet]

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@ztnjpv wrote:

Oh well. I thought maybe....just MAYBE...once you reach a certain number, the effect might sort of plateau or at least not hurt as much.

OTOH, is it true that they no longer affect your score after one year on your report? 

I want to apply for another personal card but, being a business owner, I suffer dings for non personal credit items. Kinda irritating. 

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That is correct. After 12 months the impact from an inquiry goes to zero although the inquiry itself will report for 2 years.

[DaveSignal]

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@ztnjpv wrote:

Has anyone noticed if, beyond a certain number of hard pulls, they cease to lower your score?

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I have at least 10 inquiries in the last year and at least 25 in the last 2 years.  Inquiries no longer have any effect on my score.  I have recieved multiple Score Watch alerts due to new inquiries.  For every alert, my score does not change.

EDIT:  I overestimated when I first typed this.  I have only been subscribed to SW for a few months and so cannot see all of the years inquiries.  But I do have 2 inquiries and 2 new accounts that I have received SW alerts for.  All of those 4 alerts resulted in no change to my FICO score... 

So to answer your question, YES, there must be a point where inquiries and new accounts have no effect, since I have clearly reached that point.

[ztnjpv]

Thanks for sharing that, Dave.

Unfortunately, I am still a ways away from that number of inquiries though. But it's nice to see the FICO gets kinda "numb" to the dings after a while.

[DaveSignal]

It kind of makes me wonder how many have to fall off before I start seeing a score increase.  But I don't need anymore credit and so am planning on not applying for anything (except a new apartment I will need in August) for a full year.  I have seen estimators predict a mnimum score of at least 720 if I had no inquiries, so I am anxious to see if they have that much effect (i doubt it).

[bettercreditguy1]

Here is info from a  "Sample Fico Scoring Model" copyrighted 2010.  Number of inquiries in six months. If you have no inquiries you get 70 points, one inquiry you can loose 10 points, 2 inquiries 25 points, three 45 points, and four or more you can loose 50 points.

 Here is the companion information. "Number of months to recover" copyrighted 2010.

0-5    months =  20

6-11  months  = 25

12-17 months  =30

18-23 months = 38

24  plus mos   = 45

What this says is you can regain about 2/3 of your lost points at one year and all of your lost points at the two year mark with no additional inquiries or new credit. As always, your mmv. What the companion chart also says is you can loose upto 25 points for one inquiry.  Now you have a range of ten to twenty five points loss for one inquiry. Does show their are different factors and different scoring models.

[Freefall]

Not sure if this helps or not since it doesnt mention how a Inq effects scores but I thought it was internesting... It appears that some inq stick around for only a year, others are there for 2 years....

Inq details  <-- image in my public dropbox folder

Copied it from my annual credit report...