Just to let you know, I have some good tracking on INQ's and the CE score. Two days ago my score was 708 on CE. Then, with nothing else changing except the deletion of 3 Hard INQ's my score went up to 722. I had a final hard INQ which was deleted yesterday and score updated today, again with NO OTHER changes to my file, I gained another 10 points for a total now of 722. 4 INQ's deleted upped my score by 24 points!
I don't think it's odd at all. FICO is designed to hurt those with lower scores than those with higher scores. Example: I disputed 3 accounts, and added an inquiry. I lost 16 points. 650 to 634
F.I.C.O. scoring system is FIXED!!!! You can pay $30,000 and lose points... You can get a new card and gain points... Somebody with a score 700+ can lose 1-3 points with an inquiry...somebody with 620...MIGHT lose 5-10 points... SEE BELOW... ONE INQUIRY BETTER THAN ZERO OR TWO... JUST MOVED IS BETTER THAN 2.49 YEARS AT YOUR ADDRESS... 30 AND 60 DAYS LATE IS BETTER THAN ON TIME... http://www.ftc.gov/bcp/creditscoring/present/sld008.htm
This just in..... FICO score will only drop when a "baddie" is removed if your name is GEORGE. I repeat, FICO score will only drop when a "baddie" is removed if your name is GEORGE.
I know this one, I think. If a deleted negative is 6 -7 years old, it most likely is not affecting your score any longer. However, when it gets deleted, if it is one of the older accts, then your credit history, good or bad, just got shortened. Now your oldest may only be 2 - 3 years old, thus, giving you a shorter credit history and losing points. I used to hear that bad credit is better than no credit. maybe it's true??
Hmmm...if you only had one inquiry and it was deleted, it seems like your score would drop. Wasn't one of the reason codes we've seen "no applications for credit in the past six months" or something like that? I know FICO says the average consumer has 1-2 inquiries in six or twelve months...can't remember which. I know they like you to keep active,but it has to be their kind of active to benefit and unforatunely, none of us can figure out what that is. L
FICO "wants" you to have 1 inquiry -- and only 1 inquiry -- per year. If you have zero inquiries total, then your score will take a hit. (I'm guessing at their reason: the optimal credit customer is at least interested in credit.) If, however, you have 2 or more inquiries per year, then your score decreases. Note the link George provided: http://www.ftc.gov/bcp/creditscoring/present/sld008.htm Finally, Kristi Welsh in her book "Good Credit is Sexy" (a great book, by the way, available at her website -- http://www.creditinfocenter.com), says the same thing: if you delete your last inquiry, your score will fall. The solution is a happy one, though. If you have ZERO inquiries, go apply for something (but make sure they're going to pull Experian, in this case). Even if you're turned down, your score will go up. Doc
Well, maybe FICO would score me differently then but Credit Expert gave me quite a boost when that last hard inquiry came off - 10 points. I have only 1 hard inquiry on EQ and I think that although it stays for 2 yrs it only counts toward the score for 1 yr. It will age to one year very soon and I'll try to keep track of what my score does when that happens. CE - 732... 5/02 EQ - 731... 4/02 TU - 758... 4/02 Mist
Actually, thanks to Doc's Trick, I currently have 0 hard INQ on EX, and the score went up another 4 points this weekend.
My credit score went up on Eq after I added a new account. I hadn't added one in a long time. The inquiry was on TU though. I do believe that Eq *likes* to see that you are actively using credit. Ex, on the other hand, seems to *like* zero inquiries fine. I can't figure out TU.
