Fico Monitor - Credit Inquiries Info Wrong?

[Anonymous]

In the myFICO monitor area it reads;

"Inquiries: 5  (last 3 months)."

But, I am unable to find any place in myFICO that shows I have had any inquiries on my credit since March.  The last report was run at the end of July.

What am I missing here?

Thanks.

[cw81]

Hi and welcome Myfico reports are not always the most accurate you will have to get your reports from the individual CRAs to get the real reports. Third party reports which myfico is don't give you the same level of detail or accuracy. I hope that helps. This applies to your other post also.

[Anonymous]

Well that's a bit deflating.  So, the myFICO information is wrong.  I did just go out to my credit report and look, and it says I have had 4 inquiries in the past YEAR.

Amazing.  I get dinged for refinancing my home.  And to top it off, myFICO says I have had 5 inquiries in the past 3 months with absolutely zero proof that back it up.

Is there any rhyme or reason to what myFICO is doing here?

[Anonymous]

Each inquiry will be listed separately, with the date of the inquiry next to it.  Are you saying that you purchased your FICO score from myFICO.com and the report that came with it did not list your inquiries?   The only way that would happen is if you had no inquiries in the last 12 months......

[haulingthescoreup]

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@Anonymous wrote:

Well that's a bit deflating. So, the myFICO information is wrong. I did just go out to my credit report and look, and it says I have had 4 inquiries in the past YEAR.

Amazing. I get dinged for refinancing my home. And to top it off, myFICO says I have had 5 inquiries in the past 3 months with absolutely zero proof that back it up.

Is there any rhyme or reason to what myFICO is doing here?

---

Which FICO score did you get ? (EQ, TU, EX) What is listed on the Inquiries page, what is listed on the Credit-at-a-Glance page, and is this mentioned on Understanding Your FICO Score?

I've never had a mention of "inquiries within the last three months" on a FICO report, although I think I once saw it on a FAKO report --TrueCredit or someone.

BTW, any inquiries for mortgages will all display, but they'll be counted as one, as long as they occurred within a limited time period.

[Anonymous]

Let me clarify.

myFICO gives me a quarterly credit report from TransUnion. 

So what does TransUnion say?

That last report was run at the end of July, 2008.  This report reads that I have had 4 credit inquiries in the past year.  It also has a chastising statement referring to the fact that 4 credit inquiries in a year is too many.

So what does myFICO say?

Monitor your finances
Here it has a "Credit Inquiries" graph that reads

Inquiries: 5 (Past 3 months)

Credit Alerts

This is where it has all the detailed information, including "credit inquiries" in which there ARE listed itemezations, but it lists nothing itemized in the last 3 months.

Confusion

1. TransUnion says I made 4 credit inquiries over the past year.

2. myFICO Credit Checklist says that I have made 5 inquiries over the past 3 months.

3. myFICO credit alerts lists nothing itemized in the last 3 months.

I am seeing three points of inconsistency and trying to make some sense out of it.  If this is not correct, then how can I possibly trust anything coming out of myFICO?

Thanks.

[cw81]

In regards to the reports myfico is not always accurate, the reports are a tool you can use to help improve your score and see where you are lacking. Accuracy comes from your hard copy reports. What I have learned from the veterans is use myfico for your actual FICO scores and use your hard copies to verify the actual information and for disputes.

[Anonymous]

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born4code wrote:

Let me clarify.

myFICO gives me a quarterly credit report from TransUnion. 

So what does TransUnion say?

That last report was run at the end of July, 2008.  This report reads that I have had 4 credit inquiries in the past year.  It also has a chastising statement referring to the fact that 4 credit inquiries in a year is too many.

So what does myFICO say?

Monitor your finances
Here it has a "Credit Inquiries" graph that reads

Inquiries: 5 (Past 3 months)

Credit Alerts

This is where it has all the detailed information, including "credit inquiries" in which there ARE listed itemezations, but it lists nothing itemized in the last 3 month

---

I have TU monitoring.   You're looking at the graph which is showing you the number of inquiries on your report. You're total number on your report is 5.  The past 3 months thing is just showing you a line for the past 3 months which should be flat since none of your inquiries was made in that time frame.  Hope that makes sense 

[haulingthescoreup]

OK, I see, the Quarterly Monitoring product must be the only one that I haven't played with, lol, so I'm not familiar with it.

I would give myFICO CS a call and see what they can see on their end. And it sounds like you have a report from TransUnion as well, which might help them figure what's happening.

The TU FICO's seem to be more prone to weird hiccups displaying, although they don't affect your actual score, which is generated from the actual TransUnion report at their end. The displays are sort of phantom hiccups, although very jarring to see.

I'll see if I can find out any more. Thanks for the clarification.

Message Edited by haulingthescoreup on 08-30-2008 05:33 PM

[haulingthescoreup]

I did some asking around, and snookie said it perfectly.

It seems that the chart can be pretty confusing, but look at the dates next to the inqs. These are the ones that count.

On the exact one-year anniversary on an inq, for instance 10/15/2009, the inq will no longer count in scoring. If you look at other reports, it will continue to display for a second year, but that's all it is doing --displaying. hth