cancel
Showing results for 
Search instead for 
Did you mean: 

FICO scoring ....Unfair when moving to a new state

tag
veracious
Established Contributor

FICO scoring ....Unfair when moving to a new state

What will happen to my FICO score if I move to a new state?

I anticipate an inquiry from :   1. Property Management Co.,

                                                     2. natural gas service

                                                     3. electric service

                                                     4. cable company

                                                     5. landline phone

What will the impact be for 5 inquiries in a matter of  2 or 3 days?

 

My scores are high  on both EQ & TU.  What if I want to purchase a home after living in the area before

the one year waiting period for the inquiries to lessen their effect?

 

I hate to say it but, it seems unfair for FICO to not have considered this situation when they designed their models   Smiley Mad:

 

What can I do except wait for  the one year to pass?    Please post your experiences.

 

Thanks

_________________________________________________
"You may never know what results come of your actions,
but if you do nothing, there will be no result" ~ Mahatma Gandhi
Message 1 of 3
2 REPLIES 2
llecs
Moderator Emeritus

Re: FICO scoring ....Unfair when moving to a new state

Of your list, I bet you might get hit with the leasing/prop. mgmt co, and maybe the phone and cable if not the same company. I don't see you losing more than 10 on any given CRA.

 

I just moved myself and thought about the same. We had the inquiry for the mortgage and the phone/cable/internet via Verizon. We don't have gas, but we established a new account for electricity and there was no hit (except for a $500 deposit Smiley Indifferent ). DW put ADT in her name and got hit with an inquiry there. There was no score damage when those inquiries hit, though I got a confirmed 3 pt loss when the mortgage inquiry hit the 30-day mark (delayed hit for mortgage and car). 

Message 2 of 3
veracious
Established Contributor

Re: FICO scoring ....Unfair when moving to a new state

Thanks, llecs.

 

I hope my situation  works as well as yours did for you.

 My concern is losing points, then having to wait for the inquiries to lose their negative impact.

 

_________________________________________________
"You may never know what results come of your actions,
but if you do nothing, there will be no result" ~ Mahatma Gandhi
Message 3 of 3
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.