How much points do you lose on your credit score when T-Mobile checks your credit?

Discussion in 'iPhone' started by DBZmusicboy01, Aug 14, 2015.

  1. DBZmusicboy01 macrumors 6502a

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    Sep 30, 2011
  2. Sketchr macrumors 6502a

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    Jun 15, 2009
    #2
    The number of points a hard inquiry costs depends on many factors : age of file, size of file-how many accounts on file, current score, how many existing inquiries, how old the inquiries are now. So in my experience a new inquiry could cost anywhere from zero points to 6 points.
     
  3. imlynxy macrumors 65816

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  4. boomhower macrumors 68000

    boomhower

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    Oct 21, 2011
    #4
    Pretty much this. Every file is different but in general the thicker your file the less you will lose.
     
  5. travis64 macrumors 6502a

    travis64

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    Nov 18, 2008
    Location:
    NEW YORK
    #5
    I remember before i signed up they said it would be a soft pull so my score would not go down.

    Next day checked my credit report and it was a hard pull.lost 5 pts and stays on my record for 2 years!
     
  6. Mlrollin91 macrumors G4

    Mlrollin91

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    Nov 20, 2008
    Location:
    Ventura County
    #6
    A hard pull can range anywhere from 1-9 points (In my experience I've been hit 1 point for a car loan and 9 points for a credit card, go figure), depending on how many hard pulls you currently have on your credit report. As mentioned above, hard pulls stay on your report for 2 years.
     
  7. takeshi74 macrumors 601

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    Feb 9, 2011
    #7
    As others have stated there isn't a fixed value and it depends on your credit profile. Hard pulls are a relatively small factor. If a single pull is a problem then real problem is your credit profile.
     
  8. Sketchr macrumors 6502a

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    Jun 15, 2009
    #8
    Was it an actual FICO score you were looking at or a FAKO. "FAKO" scores are provided with the numerous credit monitoring services available, credit karma, etc. Those scores are meaningless and use a different formula than your real FICO score. The FICO score is the one lenders use. While inquiries stay on your report for 2 years, you can the points you lost back in less than a year.
     
  9. cousintim macrumors 6502

    cousintim

    Joined:
    Jan 14, 2015
    #9
    There is not one FICO score. There are different versions (e.g., 04, 08) and different bureaus yield different scores. The free scores are not meaningless. In most cases, they track reasonably closely to a FICO score. Also, not all lenders use FICO scores.

    Other than that, you're post is spot on.
     
  10. kargurin macrumors regular

    kargurin

    Joined:
    Apr 24, 2015
    #10
    Equifax through Credit Karma showed a drop of 3 Pts but it's rebounded since then. My rating has never been higher (826).
     
  11. Sketchr macrumors 6502a

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    Jun 15, 2009
    #11
    The free scores can very well be meaningless. In my experience they can vary +-100 points different than actual FICO scores. And, I have a little experience. If it doesn't say FICO, it isn't one.
     
  12. boomhower macrumors 68000

    boomhower

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    Oct 21, 2011
    #12
    Yep, FAKO scores are completely meaningless. Even FICO scores have varying amount of meaning. On top of having three bureaus each with a corresponding FICO score, you have different versions of those. I believe TU is the worst but the others have more than one formula as well. Different lenders use different formulas. So even if you go to myfico.com and buy your score it still isn't necessarily what your lender will get. Then to even compound the issue you have specialized scores. There are auto enhances scores for auto loans for example, and those you can't even buy.

    Pay your bills, don't take out a ton of credit cards and don't apply for a bunch of crap. The rest will sort itself out.
     

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