Well, many have stated that an inquiry will cost you approximately 3-5 points per inquiry; however, I think that when you get into volume inquiries (ove 10) they may not have as big as impact. Just a guess though. I think it also depends on your situation and what type of inquiries. Mike G.
When my hubby or I have had an inquiry on Experian and checked CreditExpert the next day, we were only down 1 point from the hard inquiry. Ozzy.
I have come to the conclusion that FICO takes into consideration other factors than just how many points an inquiry costs. If you have 15 negatives, an inquiry may cost you 15 points or 1 point. I think it all depends on your credit history. Those of you in the 700 club may only be "Charged" 1 point for an inquiry, while those of us in the 600 club may be charged 5 points and the 500 clubbers 10 points. The fact remains that no one REALLY knows for sure how many points any one thing is worth. Everyone is different and FICO conforms to the differences by calculating things differently for different people and their circumstances. For example, Auto FICO, Mortgage FICO, BK FICO, and Credit Card FICO.
Do you ever have anything positive to say? You are the most negative human I have ever seen on any kind of chat board.
I don't have to have someone blow smoke up my ass to keep me happy, but it would be nice to see something besides the same comment everytime someone posts about having trouble with the cra.
Brown, what documentation do you have to support your statements? Do you have several consecutive Equifax credit reports w/score pulled after each inquiry?
THIS QUESTION HAS BEEN ASKED AND ANSWERED MANY TIMES...it depends on how the RANDOM NUMBER GENERATOR is working for that day!!! ONLY F.I.C.O. KNOWS FOR SURE...you could have 20 inquires in the past month, so one more might be only two points...I dought two inquires could ever be worth FIFTY OR SIXTY POINTS!!!
Mine were worth that much, I checked my Credit Expert one morning two weeks ago, my score was 560 something, that afternoon I applied for 2 cards online, denied both btw, when my CE updated I logged back in to see my new score was 511, I try and print off a copy of my report every day, there was not a single other change on my reports besides the 2 new inquires. No upped cc balances or new collections, nothing at all. So yes, if you have poor credit to begin with, inquires hurt you very, very badly.
THAT'S YOUR PROBLEM...THE ONLY "REAL" F.I.C.O. SCORES AVAILABLE TO THE PUBLIC IS EQUIFAX...$12.95 OR (4) FOR $38.85 https://www.econsumer.equifax.com/webapp/ConsumerProducts/pgConsumerProducts?
ALL OTHER SCORING SYSTEMS ARE "MADE UP" SYSTEMS "LOOSELY" BASED ON EQUIFAX F.I.C.O. https://www.econsumer.equifax.com/webapp/ConsumerProducts/pgConsumerProducts?
I guess that would be YOUR problem and not mine since you state it couldn't happen, obviously it did. Who really cares what the "real fico" is supposed to be. I was shown my credit score at an auto dealership and it was the same as CE.
Good reply to big beacon George. George this being the case is it reasonable to ask one to document their opinion??
