@dunn2500 wrote:if you have a thin file would new inquiries raise your credit score if everything else remained the same......i know the alerts arent necessarily the reason for a score change but it seems odd that whenever score changes there is a reason and change to score at same time......it makes one believe if nothing else has changed but the alert and score changes than it is the reason......for sure some or alot of the time it is the reason for spike or decline it just doesnt necessarily have to be.........if you have a thin file would inquiring to get thicker file be rewarded if all your accounts are in good standing and nothing in negative for quite some time or am I high?
instead of my score dropping for inquiry i got a bump 3pts for each ( this was awhile ago).....and also how long would it take typically an inquiry show up as well?.....
at the point where i want 2 more cards but dont want retributions of denial and or more points loss.....( i lost alot of points for no apparent reason other than refinancing so algorithm is kinda spooky)....
would buying a vehicle and paying it off in 6 months, than buying another right away and refinancing a few months later cause the algorithm to to penalize a person.....2 closed accts close together?......just trying to understand causes and reasons why it does what it does......thnx .
No, an inquiry would never raise your score.
Getting a new account would likely lower your scores: resets age of newest account, lowers average age of accounts, gives you an inquiry.
Your thought of getting a loan paying it off quickly and getting a new loan quickly would be terrible for your scores.
In FICO scores, the best thing is the passage of time + NOT applying for new credit. Every time you apply for credit and every time you open a new account you're hurting your scores.
