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JennyAZ

TU Reinsertion - Let's Create Data Points on FICO Effects of INQs!!

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Time to make some lemonade.

 

Rather than speculate on how inquiries affect the actual FICO score for various credit profiles, we can use this new setback as a chance to gain real world FICO score effects of INQ's. We can use real data instead of the FICO score estimators.

 

How about as your TU FICO score gets updated to reflect the reinsertions, you provide the following information:

 

Number of TU Inq's less than six months old before reinsertion: ##

TU FICO Before Reinsertion = ###

 

Number of TU Inq's less than six months old after reinsertion: ##

TU FICO after reinsertion: ###

 

(Could also indicate number of TU Inq's from 6 months to 1 year of age and effects)

 

Ignore any inquiries inserted that are over 12 months old since they don't impact FICO scoring.

 

There is rarely an opportunity to gauge the effect of one single event on your FICO score without other things happening in the background.

Edited by JennyAZ

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There is rarely an opportunity to gauge the effect of one single event on your FICO score without other things happening in the background.

 

Chances are most of us also had something else happen between the last time we checked our reports and this morning...

 

...so, if people haven't pulled TU yet today, it would be good to match the two reports (yesterday and today) to make sure there's nothing else in the background.

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Here is my data. I took one for the team buying m FICO today. (Note it's 30% off for those with monitoring service)

 

No change in TU FICO

 

My TU FICO had updated yesterday on 3B MyFICO monitoring.

 

Number of TU Inq's less than six months old before reinsertion: 3

TU FICO Before Reinsertion = 673

Total Number of TU Inqs less than 1 month old after reinsertion: 3

Total Number of TU Inq's less than six months old after reinsertion: 10

Total Number TU inquiries less than 1 year old: 14

TU FICO after reinsertion: 673

No Change

11 inquiries between 6 months and 12 months old

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-4 change in TU FICO

Number of TU Inq's less than six months old before reinsertion: 2

TU FICO Before Reinsertion = 729

Total Number of TU Inqs less than 1 month old after reinsertion: 2

Total Number of TU Inq's less than six months old after reinsertion: 9

Total Number TU inquiries less than 1 year old: 11

TU FICO after reinsertion: 725

-4 Change

 

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The problem with this data is that it only considers inquiries and doesn't take into account the overall credit profile.

 

I've seen an example of someone with an 850 FICO where 1 new inquiry does not change their score at all. On a new, thin file, it is a noticeable drop.

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The problem with this data is that it only considers inquiries and doesn't take into account the overall credit profile.

 

I've seen an example of someone with an 850 FICO where 1 new inquiry does not change their score at all. On a new, thin file, it is a noticeable drop.

 

Right, just like not everyone would get the same result if you suddenly gave them each $1,000.

 

Some would put it all toward debt, some would buy meth, and others, like me, might buy five new toasters.

 

The results wouldn't tell us much of anything about how $1,000 would improve the average person's life.

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The problem with this data is that it only considers inquiries and doesn't take into account the overall credit profile.

 

I've seen an example of someone with an 850 FICO where 1 new inquiry does not change their score at all. On a new, thin file, it is a noticeable drop.

Right, just like not everyone would get the same result if you suddenly gave them each $1,000.

 

Some would put it all toward debt, some would buy meth, and others, like me, might buy five new toasters.

 

The results wouldn't tell us much of anything about how $1,000 would improve the average person's life.

Speaking of toasters...

 

How is your "smart toaster" doing? :lol:

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The problem with this data is that it only considers inquiries and doesn't take into account the overall credit profile.

 

I've seen an example of someone with an 850 FICO where 1 new inquiry does not change their score at all. On a new, thin file, it is a noticeable drop.

This is the reason I asked people to list their old score and new score. So you can see if they went from 625 to 610 or from 845 to 843. That was the whole point and the purpose for this exercise, so see the effects of Inq's on different FICO profiles (based on score).

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0 change in TU FICO

Number of TU Inq's less than six months old before reinsertion: 1

TU FICO Before Reinsertion = 752

Total Number of TU Inqs less than 1 month old after reinsertion: 1

Total Number of TU Inq's less than six months old after reinsertion: 3

Total Number TU inquiries less than 1 year old: 5 (two were on the same day for a car loan)

TU FICO after reinsertion: 752

0 Change

Edited by Tileguy61

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The problem with this data is that it only considers inquiries and doesn't take into account the overall credit profile.

 

I've seen an example of someone with an 850 FICO where 1 new inquiry does not change their score at all. On a new, thin file, it is a noticeable drop.

This is the reason I asked people to list their old score and new score. So you can see if they went from 625 to 610 or from 845 to 843. That was the whole point and the purpose for this exercise, so see the effects of Inq's on different FICO profiles (based on score).

 

 

Right, but a credit profile is more than just a FICO score.

 

You can have an 800 score with a really thin file and an inquiry could make a significant change in terms of what is possible with an inquiry, or you could have a really thick file and scores in the low 700s and it may not make a change at all.

 

There are too many variables to extrapolate any meaningful data from a comparison of inquiries and age of inquiries to FICOs.

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-15 change in TU FICO



Number of TU Inq's less than six months old before reinsertion: 5


TU FICO Before Reinsertion = 780



Total Number of TU Inqs less than 1 month old after reinsertion: 3


Total Number of TU Inq's less than six months old after reinsertion: 35


Total Number TU inquiries less than 1 year old: 35


TU FICO after reinsertion: 765



-15 Change


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The problem with this data is that it only considers inquiries and doesn't take into account the overall credit profile.

 

I've seen an example of someone with an 850 FICO where 1 new inquiry does not change their score at all. On a new, thin file, it is a noticeable drop.

This is the reason I asked people to list their old score and new score. So you can see if they went from 625 to 610 or from 845 to 843. That was the whole point and the purpose for this exercise, so see the effects of Inq's on different FICO profiles (based on score).

 

 

Right, but a credit profile is more than just a FICO score.

 

You can have an 800 score with a really thin file and an inquiry could make a significant change in terms of what is possible with an inquiry, or you could have a really thick file and scores in the low 700s and it may not make a change at all.

 

There are too many variables to extrapolate any meaningful data from a comparison of inquiries and age of inquiries to FICOs.

 

Everything that is reported on here is anecdotal since all you have is your own credit profile. You don't have to participate. I think it's interesting to see. It's also interesting to see the overall impact of going from 0 inquiries reporting to 30 reporting. Seems like the overall impact of INQ's may be less than some folks think.

 

If the data isn't scientific, well there have been more frivolous threads on CB. Let's just do it for fun and see what we see.

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Since Bob actually bases his graphs on the FICO estimator, and you can manipulate specific variables, it's quite accurate.

 

Sorry, your thread made it sound like this was for science.

 

So far no R* for me.

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Number of TU Inq's less than six months old before reinsertion: 4


TU FICO Before Reinsertion = 765



Total Number of TU Inqs less than 1 month old after reinsertion: 0


Total Number of TU Inq's less than six months old after reinsertion: 14


Total Number TU inquiries less than 1 year old: 15


TU FICO after reinsertion: 764



-1 Change


Edited by chelseafc

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I haven't seen my FICO Score change from zero to 8 inqs.

 

I actually haven't seen it change in awhile from anything.

 

TU is odd, to say the least.

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The problem with this data is that it only considers inquiries and doesn't take into account the overall credit profile.

 

I've seen an example of someone with an 850 FICO where 1 new inquiry does not change their score at all. On a new, thin file, it is a noticeable drop.

Right, just like not everyone would get the same result if you suddenly gave them each $1,000.

 

Some would put it all toward debt, some would buy meth, and others, like me, might buy five new toasters.

 

The results wouldn't tell us much of anything about how $1,000 would improve the average person's life.

Speaking of toasters...

How is your "smart toaster" doing? :lol:

I used the long-slice version that we have in Mudland tonight to toast hamburger buns on the bagel setting (only toasts the sliced surface of each side) for ground veal burgers. The expertly toasted buns definitely stole the show.

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Mrs. Murphy: May I help you boys? [/size]

Elwood: You got any white bread? [/size]Mrs. Murphy: Yes. [/size]Elwood: I'll have some toasted white bread please. [/size]Mrs. Murphy: You want butter or jam on that toast, honey? [/size]Elwood: No ma'am, dry. [/size]

[bobby wants plain toast, which isn't on the menu]

 

Bobby: I'd like an omelet, plain, and a chicken salad sandwich on wheat toast, no mayonnaise, no butter, no lettuce. And a cup of coffee.

 

Waitress: A #2, chicken salad sand. Hold the butter, the lettuce, the mayonnaise, and a cup of coffee. Anything else?

 

Bobby: Yeah, now all you have to do is hold the chicken, bring me the toast, give me a check for the chicken salad sandwich, and you haven't broken any rules.

 

Waitress: You want me to hold the chicken, huh?

 

Bobby: I want you to hold it between your knees.

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Never saw it, but a radio show I listened to when I lived in Chicago used that audio clip a lot.

 

It's always made me laugh.

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Mrs. Murphy: May I help you boys? [/size]

Elwood: You got any white bread? [/size]Mrs. Murphy: Yes. [/size]Elwood: I'll have some toasted white bread please. [/size]Mrs. Murphy: You want butter or jam on that toast, honey? [/size]Elwood: No ma'am, dry. [/size]

[bobby wants plain toast, which isn't on the menu]

 

Bobby: I'd like an omelet, plain, and a chicken salad sandwich on wheat toast, no mayonnaise, no butter, no lettuce. And a cup of coffee.

 

Waitress: A #2, chicken salad sand. Hold the butter, the lettuce, the mayonnaise, and a cup of coffee. Anything else?

 

Bobby: Yeah, now all you have to do is hold the chicken, bring me the toast, give me a check for the chicken salad sandwich, and you haven't broken any rules.

 

Waitress: You want me to hold the chicken, huh?

 

Bobby: I want you to hold it between your knees.

 

ROFLMFAO

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Number of TU Inq's less than six months old before reinsertion: 5 (technically 3 since 3/5 were Auto Loan pulls, 6 month mark is 26 Feb for the Auto INQs)

TU FICO Before Reinsertion = 782

 

Total Number of TU Inqs less than 1 month old after reinsertion: 0

Total Number of TU Inq's less than six months old after reinsertion: 5 (see above "before" notations)

Total Number TU inquiries less than 1 year old: 5 (see notations above)

TU FICO after reinsertion: 773

 

-9 Change - seems like the auto INqs are not being counted as one given the 9 point drop. Since this equates to 3 6 month old inquiries AND 3 less than a year INQs being counted, surely makes me speculate they're all beig counted individually. We shall see :):)

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Number of TU Inq's less than six months old before reinsertion: 5 (technically 3 since 3/5 were Auto Loan pulls, 6 month mark is 26 Feb for the Auto INQs)

TU FICO Before Reinsertion = 782

 

Total Number of TU Inqs less than 1 month old after reinsertion: 0

Total Number of TU Inq's less than six months old after reinsertion: 5 (see above "before" notations)

Total Number TU inquiries less than 1 year old: 5 (see notations above)

TU FICO after reinsertion: 773

 

-9 Change - seems like the auto INqs are not being counted as one given the 9 point drop. Since this equates to 3 6 month old inquiries AND 3 less than a year INQs being counted, surely makes me speculate they're all beig counted individually. We shall see :):)

I think I am not reading this correctly. It looks like you are saying there were 5 Inq's before reinsertion and then 5 Inq's after? And a score change of -9?

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Number of TU Inq's less than six months old before reinsertion: 5 (technically 3 since 3/5 were Auto Loan pulls, 6 month mark is 26 Feb for the Auto INQs)TU FICO Before Reinsertion = 782

Total Number of TU Inqs less than 1 month old after reinsertion: 0

Total Number of TU Inq's less than six months old after reinsertion: 5 (see above "before" notations)

Total Number TU inquiries less than 1 year old: 5 (see notations above)TU FICO after reinsertion: 773-9 Change - seems like the auto INqs are not being counted as one given the 9 point drop. Since this equates to 3 6 month old inquiries AND 3 less than a year INQs being counted, surely makes me speculate they're all beig counted individually. We shall see :):)

 

I think I am not reading this correctly. It looks like you are saying there were 5 Inq's before reinsertion and then 5 Inq's after? And a score change of -9?
Shoot I did an input error. Thank you for pointing that out so I can correct it!!!

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