Score dropped 5 pts because of 1 inquiry

[CreditGuy03]

My score just dropped 5 points. Do inquiries really affect your score that much? Or is it because I may be in a certain bucket?

[Anonymous]

The answer varies widely with the context.

For example, if one person has a 5-point hit for a single inquiry, this is not the same as saying that the person will have a 50-point hit for 10 inquiries.

[MidnightJester]

Is a 5 point drop alot. IT goes away within a year point wise you return to where you would be without the HP. What should they take away. 3 or 2. It has to have some sting I guess or people would run up the inq more then they already do. If it wasnt for banks turning down for INQ sesitivity people would have 20 or 30 all the time if it wasnt for the point deduction..

[JagerBombs89]

If inquries are worth 10% of your score and your score maxes out at 850, does 5 out of 85 points constitute a significant drop?

[Anonymous]

---

@JagerBombs89 wrote:

If inquries are worth 10% of your score and your score maxes out at 850, does 5 out of 85 points constitute a significant drop?

---

Inquiries are part of a FICO scoring category with a 10% weight.

Inquiries themselves are not 10% of your score.

http://www.myfico.com/CreditEducation/New-Credit.aspx

[CreditGuy03]

inquiries should be 1 pt. The more inquires in a certain time period...lets say 3 months then they should be worth more each time.

This same inquiry dropped my transunion score by 12 points

[Anonymous]

Read the other posts on this thread?! As was stated it is related to your credit file and the FICO Scoring Model used. For me I have had inquiry's reduce my score by 5 points and some times less or more. All depended on the other factors in my file at the time. Also, as you go along your report will vary based on reported oldest account, AAoA, reported utilization and so on. You could go crazy following all the happenings day by day. Sweat the big stuff and keep and eye on the little things.