Jump to content

Inquiry Worth 7 Points?


Anonymus
 Share

Recommended Posts

I heard around the board that an inquiry usually can take away 7 FICO points. Is this true?

And If so I have 3 Inquires coming off soon will I gain 21 points? :p

Don't count on that. Your score depends on all the information in your file, the utilization, the age of your accounts, the payment history, the application for new credit etc. There's no magic number for an inquiry.

Link to comment
Share on other sites

"...There's no magic number for an inquiry"

Or for anything else. If the deductions/additions were set in stone we would have figured them out long ago and published a list for each activity. The calculations are extremely complex. Inquiries CAN cost a consumer between 1 and as much as 12 points each, depending on what else is in your file. The deductions they generate may also decrease with age, so you may get 21 points added back, or you may get zero.

Link to comment
Share on other sites

I heard around the board that an inquiry usually can take away 7 FICO points. Is this true?

Well, I've gotten 4 inquiries and had a collection reinserted :evil: all in one day (on EQ) and it only costed me 7 FICO points. For some pple, that would have tanked their scores by 30+ points. Perhaps I have enough positive TLs & payment history to compensate. I didn't mind getting the inquiries b/c I can easily get those removed. :D As for the reinsertion, do believe, I'm waiting for that 5-day notice letter! :twisted:

Link to comment
Share on other sites

Guest
This topic is now closed to further replies.
 Share

×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.. For more information, please see our Privacy Policy and Terms of Use.