Today my EX scorable inquiries dropped from 4 to 3, and my EX FICO 8 gained 7 points.
This contradicts my previous theory that 3-5 is a bin, since under that theory dropping from 4 to 3 should have been a non-event.
This supports a theory that @Thomas_Thumb postulated that 4-5 is a bin.
Based on my recent experience with EQ, it now appears to me that 3 is a threshold all by itself. I.e. dropping to 3 gains points, and dropping from 3 to 2 gains points. Most likely I'll be finding out shortly if what happened with EQ will also happen with EX.
Thanks for sharing.
For whatever it's worth I went from 0 scoreable (1 total) to 3 scoreable (4 total) last month and my scores didn't budge.
@Thomas_Thumb wrote:
@SouthJamaica wrote:Today my EX scorable inquiries dropped from 4 to 3, and my EX FICO 8 gained 7 points.
This contradicts my previous theory that 3-5 is a bin, since under that theory dropping from 4 to 3 should have been a non-event.
This supports a theory that @Thomas_Thumb postulated that 4-5 is a bin.
Based on my recent experience with EQ, it now appears to me that 3 is a threshold all by itself. I.e. dropping to 3 gains points, and dropping from 3 to 2 gains points. Most likely I'll be finding out shortly if what happened with EQ will also happen with EX.
ExpatCanuck reported going from 4 to 5 and losing 7 points. But, he then mentions 4 are less than 12 months. So, in reality he went from 3 scoreable to 4 scoreable which supports 4 being a threshold.
So data between you two supports 4-5 as a bin. As of now it is looking like
0, 1, 2, 3, 4-5, 6-9 and 10+ for bins. More data is needed by others. I suspect some profiles may not see a score penalty at all the above thresholds.
I knew you could make sense out of it. So far, my experiences are consistent with 4-5 and with 3.
@keekers wrote:
For whatever it's worth I went from 0 scoreable (1 total) to 3 scoreable (4 total) last month and my scores didn't budge.
I believe it takes 45 30 days for the impact to be felt from new inquiries.
@Thomas_Thumb wrote:
@SouthJamaica wrote:
@keekers wrote:
For whatever it's worth I went from 0 scoreable (1 total) to 3 scoreable (4 total) last month and my scores didn't budge.I believe it takes 45 days for the impact to be felt from new inquiries.
I believe the buffer (delay in counting toward score) is 30 days. The Dedupe where multiple inquiries count as 1 HP for installment loans is 45 days for Fico 8. The Dedupe does not apply to revolving credit HPs.
Unfortunately poster data often does not consider these nuisances. Or, as in ExpatCanucks case, the headline says going 4 => 5 lowered score but, the post then mentions 1 inq was over 12 months. Data can be misleading if not vetted.
I stand corrected. Thank you.