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SW Inquiry alert - language incorrect?

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Super Contributor

SW Inquiry alert - language incorrect?

I got a SW inq alert recently, a 7 point decrease for the second EQ inq in 12 months.  It says:
 
You only receive inquiry alerts as the result of applying for new credit accounts or opening a new account with a lender.  These are the only types of inquiries that affects your FICO® score.
 
 
I know it is nit-picking, but that ain't exactly true.  I recieved an inq from AT&T for EXTENDING my contract, and another from Chase for a CLI.  Neither of these involved "new" credit or "new" accounts.
 
My problem is that I suffered what was known as a "classical education" and they tried to teach me to use English accurately  Smiley Very Happy
 
The slide from grace is really more like gliding
And I've found the trick is not to stop the sliding
But to find a graceful way of staying slid
Message 1 of 7
6 REPLIES 6
Moderator Emerita

Re: SW Inquiry alert - language incorrect?


@MidnightVoice wrote:
My problem is that I suffered what was known as a "classical education" and they tried to teach me to use English accurately Smiley Very Happy


You and I need to become the FICO usage and grammar police! I go nuts with the sim that says to pay my $327 revolving debt down over 24 months. No, that's not what you're trying to say, FICO, try that again.

It's confusing enough trying to figure out credit, without getting messages like these as well. Smiley Tongue
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
Message 2 of 7
Moderator Emeritus

Re: SW Inquiry alert - language incorrect?

An inq in an inq is an inq... FICO cannot determine whether or not you are applying for new or extending an existing contract. I think your beef should be with the cell company. Why would they need to pull a hard on a long standing honest customer??
Message 3 of 7
Super Contributor

Re: SW Inquiry alert - language incorrect?



@Tuscani wrote:
An inq in an inq is an inq... FICO cannot determine whether or not you are applying for new or extending an existing contract. I think your beef should be with the cell company. Why would they need to pull a hard on a long standing honest customer??



I do have the beef with AT&T. And I understand an inq is an inq - I just wanted SW's language to reflect that Smiley Happy
The slide from grace is really more like gliding
And I've found the trick is not to stop the sliding
But to find a graceful way of staying slid
Message 4 of 7
Administrator Emeritus

Re: SW Inquiry alert - language incorrect?

You are absolutely correct, Midnight, about the two examples of inquiries coming up short.  And the beef you and Hauling share about poor grammar throughout the site is one that I have also shared for a long time.  We have some new folks responsible for such content these days and I'm confident things will start to get better in that area.

 

I will submit a correction for the inquiry alert explanation to include other inquiry situations that can affect your score, and will recommend something better than the "pay my $327 revolving debt down over 24 months" kind of language in the simulator and elsewhere.

 

Thanks for helping keep us honest!

 

-Barry

Message 5 of 7
Super Contributor

Re: SW Inquiry alert - language incorrect?

Barry:
 
Thank you kind sir.  Personally it does not bother me as, thanks in large part to this place, I understand this stuff much better than I used to!
 
But I think it would be better for all concerned (You and new folks) if MyFICO was as accurate as possible.  I think it will help Fair Isaac's push for education of the consumer to get it better, and I am assuming there are valid business reasons for FI wanting more educated consumers.  Smiley Wink
The slide from grace is really more like gliding
And I've found the trick is not to stop the sliding
But to find a graceful way of staying slid
Message 6 of 7
Moderator Emerita

Re: SW Inquiry alert - language incorrect?


@Barry wrote:

You are absolutely correct, Midnight, about the two examples of inquiries coming up short. And the beef you and Hauling share about poor grammar throughout the site is one that I have also shared for a long time. We have some new folks responsible for such content these days and I'm confident things will start to get better in that area.

I will submit a correction for the inquiry alert explanation to include other inquiry situations that can affect your score, and will recommend something better than the "pay my $327 revolving debt down over 24 months" kind of language in the simulator and elsewhere.

Thanks for helping keep us honest!

-Barry


Woo-hoo! hiring alert for English majors! Thanks, Barry. No one understands the curse of a classical education... Smiley Very Happy
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
Message 7 of 7
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