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BJKill

What is the actual FICO damage of inquiries?

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This is probably somewhere on CB but I haven't found it yet. If it is, please point me to the thread.

 

I am curious if there is a BW-style spreadsheet that shows the net effect of inquiries from zero to say more than 10 with everything else held constant?

 

I'm wondering if there is a maximum damage that can be done.

 

I have read that inquiries cost about 4 points, but does that mean that 12 inquiries on the same CRA would cost 48 FICO points? I suspect there is a cap.

 

I assume that people with clean reports who are regular B*ers have a good FICO reason to incur the cost of Quizzle Pro, etc., and the hassle of MPM 24+1 pulls. I'm just trying to figure out how much of a FICO gain people actually get.

 

I realize the benefit on manual review of not having any inquiries show up for an U/W to see.

 

I also realize that it is a YMMV based on your specific profile, but I'm looking for examples of how much FICO rises after B*ing off all inquiries.

 

Thanks in advance for helping me understand this.

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as CV said, different for everyone.

 

recently I've seen 2-4 inqs costing 25+ points on 08.

 

04 was much more forgiving.

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I'm not questioning it matters, I'm asking how much. I did see BW's graph that shows how long it takes to recover from Inq's, and it's obvious that after 6 months up to 12 months the scores rise. I just wonder how bad the initial hit is. So if you are at a 680 and you have 10 inqs show up, what is the damage?

 

I have a bunch of new inq's on TU, and I will b* them, but of course there's a bunch of new accounts reporting, etc., so there will be multiple things happening.


as CV said, different for everyone.

recently I've seen 2-4 inqs costing 25+ points on 08.

04 was much more forgiving.

Thanks. I was typing at the same time you were replying.

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Totally random effects below for me... like asking how a blind date was... varies wildly. all from MyFIco
INQUIRY DETAILS 669-667 Experian/ AmEx inquiry
INQUIRY DETAILS 686-706 Equifax
NAVY FEDERAL CREDIT UNION
INQUIRY DETAILS
BBOK/CENTRAL BK & TR TRANUNION 677-688
  • INQUIRY DATE
BARCLAYS BANK DELAWARE- transunion 687-677
AMEX
  • STATUS
  • Bank/Credit Card Inquiry

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There is no set number that scores will drop for inquiries. A lot will have to do with whether or not your reports are clean, utilization and how thick your file is.

 

As Shifter said, 08 seems to be more sensitive than 04, but there have been CB members with an 850 FICO 08 with an inquiry reporting.

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Right now I'm + or - 10 points at 800 (Wally/Barclays/Discovery TU08) with 3 HPs showing and by end of December I should have B* on TU. By January I should know the effect. I'm guessing about 10 points assuming all my new CLs finally report and I achieve B*

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last time I went from zero to 1 my score went up.

 

inquires are a natural part of credit repair/building. you should worry about important matters.

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last time I went from zero to 1 my score went up.

 

inquires are a natural part of credit repair/building. you should worry about important matters.

+1

 

Often times newbies find cb and the inquiries seem to be their main concern - "how can I make them disappear?"

 

Generally, the inquiries should be the last concern for improving score. In the big picture inquiries have little effect on a score compared to history, utilization age. etc.

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last time I went from zero to 1 my score went up.

 

inquires are a natural part of credit repair/building. you should worry about important matters.

+1

 

Often times newbies find cb and the inquiries seem to be their main concern - "how can I make them disappear?"

 

Generally, the inquiries should be the last concern for improving score. In the big picture inquiries have little effect on a score compared to history, utilization age. etc.

 

 

What they said!! ^

Edited by parisamour

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Because it's awesome.

 

and ponys.

Edited by Jega

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Because it's awesome.

 

and ponys.

One day, I will get the pony thingy.

 

It's ok. I've been on this board for over 10 years now and this pony thingy is new. And I don't get it either. :lol:

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What, I thought the pony reference was for the strip club in Georgia.

 

Theres two slutty place in georgia, pink pony and Eq.

Edited by ihatedcu

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