There's no way to know. It depends on the profile. A clean score card could lose 25 points while a dirty one could only lose 9. There's also thick and thin profiles and how many you already have. After 9 inq I stopped losing points. Others stopped losing points before or after that.
@Red1Blue wrote:
@Brian_Earl_Spilner wrote:There's no way to know. It depends on the profile. A clean score card could lose 25 points while a dirty one could only lose 9. There's also thick and thin profiles and how many you already have. After 9 inq I stopped losing points. Others stopped losing points before or after that.
Hi @Brian_Earl_Spilner when does the scores start recovering from inquires. Do we see any gain at 6 months or do we have to wait full 1 year for the scores to recover from the score ding?
Inq stay on reports for 2 years, but are only counted for 1. There's no fade.
@Red1Blue wrote:
@Brian_Earl_Spilner wrote:
Inq stay on reports for 2 years, but are only counted for 1. There's no fade.I thought the scores would start recovering after 6 months and complete full recovery at 1 year. Is it not true? Also when creditors decline the application with message "too many inquiries" are they taking about last 12 months or full 24 months?
No, you get the points back at the 1 year mark. Derogatories fade over time depending on type.
For too many inq, it's dependant on the lender. That's why you need to avoid having an app shotgunned at the dealer, for example. While they may be binned for scoring purposes, all of them will still show. Worse is if they're not coded correctly. You may be able to recon with some lenders, but others that are automated like cap1 or disco will not. Computer sees the inquiries and that's that.
@Anonymous wrote:For a routine credit card application that requires a hard pull, by how many points will my FICO score be deduced if all my accounts are in good standing? And for how long does this deduction remain in effect?
1. There may or may not be points lost, depending on what else is in your profile at that bureau.
2. There may be additional points lost if you get a new account.
3. The points lost from the inquiries come back after 1 year.
