How many inquiries hurt score

[Anonymous]

How do inquiries negatively impact fico score? I have EQ-4, TU-3, EX-2.  My scores are EQ-653, TU-691, EX-684. I am about to refi my mortgage and am interested in knowing if it will lower my score much by submitting applications.

[llecs]

Seeing that most consumers will rate-shop, FICO scores all mortgage and auto inquiries as one solitary inquiry per your report if pulled within a 14-30 day period depending on the CRA and the version of score used. So, if you shop around and have 5 inquiries on EX over a 10 day period, then you are only hit for one of those; FICO ignores the rest.

IMO, inquiries are overrated. I have 30-something on EX and 19 on EQ. You can have a few of mine if you want them. Most damage occurs (few points or so) when your scores are well into the 700s and you go from 0 to 1 or 1 to 2 inquiries.

[Red1Blue]

I have 71 inq's on EX now at the high time I had 74 inq's.

[Anonymous]

WoW!! I read that and laughed out loud! Please don't take it personal, I mean no disrespect. I just thought it was funny. Have you seen any AA for having so many inqu's?

[Red1Blue]

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@Anonymous wrote:
WoW!! I read that and laughed out loud! Please don't take it personal, I mean no disrespect. I just thought it was funny. Have you seen any AA for having so many inqu's?

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AA, not really. My scores were in mid 500's when I started rebuilding my credit about 18 months ago. Now they are around 680 EQ- 685EX - 750 TU.  I obtained close to $150K in personal lines and close to $100K in business lines. I am hoping to make the 700 club for EQ/EX in the next few months. I have to work on couple of baddies to be removed from CR's.

[brother7]

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@Red1Blue wrote:
AA, not really. My scores were in mid 500's when I started rebuilding my credit about 18 months ago. Now they are around 680 EQ- 685EX - 750 TU.

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 concorduser,

What's the reason for the 60+ difference between TU and the others?

[llecs]

I'm not concorduser, but I also have a high EX inquiry count. The primary reason that there are more on EX is because I keep apping for TLs that pull EX more than the others. There's not too many TU pullers out there. EQ pulls are more common, but always seems the underdog as compared to EX. I have 30-something on EX and about 20 on EQ.

[Red1Blue]

My inq's on EX are many of them wasted inq's. There are 10 from Amex as I kept applying for the card when I had oasis card. I should have waited a year for Amex. Some of them are from FNBO every time I wanted to add more deposit to my Secured card account they keep pulling a new hard. Finally I stopped adding more funds to the card. Probably half of the rest of inq's are my business related. Overall not a bad accomplishment though. Inq's slowly started falling on my report. About 3-4 every month should drop off from my report and hopefully I should start seeing gain in my scores as accounts start aging and inq's keep dropping off. It has been quite a journey from where I started to where I am now.