I'm currently shopping for a mortgage refi and am getting multiple 3 agency Hard Pulls from different lenders. How does the scoring model take this into account?
I believe they are all loooked at as 1 inquiry on each Agency report but do I get doouble dinged for having tooo many inquiries overall?
If they are all within a 45 day window FICO will score all of them from each CRA together as a single inquiry specifically to avoid penalizing you for rate shopping although they are all individually reported. It's up to whomever later pulls a report to choose how they want to evaluate them so YMMV.
I applied at a couple of places to rate shop.
I also figured to double dip where I could so I applied for a PenFed credit card and had them use the same Pull from the Mortgage app.
If I had like 5 pulls from each CRA for the mortgage they shoould all count as 1 for scoring but I will probably see a reason code of too many inquiries pulling that category down?