Have Two New Inquiries and My Score Went UP?!?!?!?!?!?

[Anonymous]

I applied for a car loan recently, got denied by E-Loan.  Accepted by Roadloans (though I denied it because it was 14%).

Then I get an email saying I have new inquiries.  Then  I scroll down and it says my FICO score has gone up 15 points.

I was at 659.  Now I'm 674.

I'm waaaaaaaay confused.

[Anonymous]

It's crazzzy I know...But the same thing happened to me when I applied for some car loans...score went up....Go figure...

[Anonymous]

Your score could improve because it is good to have one or two inquiries per year on your credit reports. It is showing that you are inquiring about new credit. If you look under the credit education side, 10% is new credit. Inquiries factor into this area.

[haulingthescoreup]

Usually the 10% for new credit is bad. But if you are relatively new in credit land and have a "thin file" (not many accounts, either open or closed), you can get a score increase by getting a new card with a semi-decent CL. Play with the simulators.