It cost me $13 bucks but here it is. After recently being approved for my first prime, AMEX Blue cash, I decided to try other primes. Bank Of America denied. They check transuion and my score went from 724 to 715 (requested reconsideration waiting for answer. 9 points from one inquiry. Citi Platinum Waiting for decision. They checked Experian. 734 to 727 7 points from 1 inquiry. Chase Platinum 7 to 10 days for decision NO RECORD OF INQUIRY ON ANY REPORT SO FAR. This is the highlights of my profile: NO BADDIES AT ALL Oldest acct crap one MC: 4 years mortgage car loan providian visa YUK! crap one visa EQX 747 exp 727 down 7 TU 715 down 9 points Doesn't anybody pull Equifax in PA anymore?
I recently had 4 inquiries within 30 days... 1 from the mortgate company and 3 after closing on my house from creditors I applied for to replace the Crap1 and Providian cards I canceled. My score dropped 6 points overall from 681 ---> 675. In my case, the inquiries didn't amount to much.
Yeah know whatcha mean. lol The higher your score the more an inq. seems to cost. With medium range scores (650-680) and inq. costs maybe a couple points. When your scores are high, (750-780) they cost more. Sux I know. I'm glad I don't have 850 scores. An inq. would cost 50 points. LOL
A single inquiry is based on a percentage of your FICO score. Not a certain amount of points, Butch is right and that is why it kills more points.
Hey I bet we could figure out what the percentage is if we all report our scores and point drops. If 100 people report I could get it to around + or - 0.1%. .
I write this stuff down all of the time but keep it seperate from what is actually in front of me. The percentages go up with more inquirys but that is obvious. That is why you get different percentage moves on seperate reports. Of course it is possible to have 6 hard pulls on report and only one on one report. That is why there is not a certain number of points taken away from a single pull. It's a tough math thing overall and probably one of the easiest variables to figure out. I have seen reports with over 10 hard pulls within 12 months. After 11 hard pulls the percentage is even greater. Also a report that has a single positive account removed that is 7-10 years old from that point is usually either a 2 or 3 point loss. Of course that number could be higher depending on the individuals credit report depending on the overall credit history on all accounts or the overall credit history. It also goes the other way with a negative account that does not have a balance and is currently not past due such as "included in bankruptcy" or charge off. I know the general flow of this board is to get any negative history you can off of your credit report if you can. I have found that not to be true as far as FICO goes. Anyone who has negative history will have a hard time getting a prime credit card. So the idea usually is to get all negative credit history off of your reports in the long run. The only problem with that is that you erase the overall credit history on the accounts. It actually hurts the FICO score in alot of cases more than just leaving the account there if it is an older account. How much longer or older depends on the individual and their overall report. I became a FICO freak in early 2002 and if the FICO simulator told me to get a tatoo to get my scores higher you better believe I would have done it. As of today I have had all 3 reports break the 700 mark. The problem is that I usually get something reinserted or positive accounts wiped out to go under the 700 mark. Then I just fight back because really we all know it is just a game. I filed Bankruptcy less than 2 years ago and have had my scores hit the 700 mark by living my life by the FICO simulator. I have had comments toward me like, How did you get your scores so high with a BK? I have noticed other members here such as GEORGE that have a FICO score that is comparible to mine right know, and he has a 25 year perfect history. I agree it is not fair but you have to take advantage of the system that is in place. FICO isn't everything and does not determine an application overall, but it is the system in place that determines if we will go bad within the next 2 years. Myself personally I have a BK on my reports and can not get a prime credit card. But if you are talking mortgage the FICO score matters more along with time at job or the other things that FICO scores do not calculate. I am not an expert on credit repair or knowing the FCRA backwards and frontwards. Also I am not an expert on laws or what letters to write. But I have spent SO much time on what drives a FICO score up and how to do it. I always see others on here that know ALOT more than I do and I wonder why their FICO score is not higher.
That is VERY interesting. Makes me think that someone who followed both the letter writing/suing paths from here on this board AND do what you're doing with the simulator, it could increase your chances of improving your score even more.
It is also VERY expensive. I have spent between $1000-$1500 doing this and would not advise anyone else to pull a FICO score as often as I do. Even at discounted prices the 3 CRA's make a pretty good chunk of change off of the FICO score pulls. In a way it isn't a good feeling that I have kicked in the amount of money I have towards them. I really enjoy the posts from others that explain what their FICO score was before and after on one variable. The only problem with it though is that I do not know if it was the only change in the report along with changes as far as age of accounts and the balances. Would it be wise to open a thread called "FICO score B4 and after"? If anyone pulled a FICO score and had one change and pulled another FICO score to determine the straight or percentage points on the different variables. It would require someone to accurately report what changed in their report in a short term situation. The BK or judgment removal would be interesting if it was removed from a dispute or if it aged off. But the 2 FICO scores before and after would have to be close together. Also how many years before it was scheduled to fall off before it did. Actually I will open a thread "FICO score B4 and after" at worst it will get zero responses.
Update Chase pulled experian. Cost 7 points. I got the email today Approved!!!! $1000 limit. My oldest card is 48 months. Capitalone mc with $1800 limit. I can't thank you all enough for your help.
I don't think the formula is actually a percentage of your score. I've seen several people track how fico changed by manipulating only one variable. The cases I saw were for # of inquiries and balance/limit ratio. And it appears from those cases, everything is a step function with fico(like your age you say you are 34 even though you are 34 years and 3 months old)--that is say for a particular score card you lose say 10 points for your first inquiry 7 for your second, then you won't lose any points until your fourth inquiry, etc. Incidently, it looks like anything after 10 inquiries doesn't harm you (for equifax at least). The balance to limit someone did for himself and his wife and rather than being a straight line graph it was again a step function where say a 15%-25% ratio both dropped the score the same 10 points. And oddly when they both paid off the final tiny amount on their credit cards, his score went up about 15 points and hers went DOWN about 10--So it looks like for some scorecards $1 is better than $0 on revolving lines.
I became a FICO freak in early 2002 and if the FICO simulator told me to get a tatoo to get my scores higher you better believe I would have done it. As of today I have had all 3 reports break the 700 mark. The problem is that I usually get something reinserted or positive accounts wiped out to go under the 700 mark. *Then I just fight back because really we all know it is just a game. J. Vick 71 -------------------------- *Yep a regular shell game. THE END ** *** ** LB 59 """"```--~~~~~~~~~--```'""'''
