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I'm currently in the 14 day period since my credit (all 3) were pulled for a Mortgage Application. A second lender pulled my credit today (still in the 14day period) and surprisingly, the new inquiry showed up on my credit report. Shouldn't subsequent inquiries not show up on the Credit report for Mortgage shopping in the 14-day period?

CREDCO  10/22/2014  Equifax
CREDCO/QUICKEN  10/22/2014  Experian
CLC/QUICKEN 10/22/2014  TransUnion
CREDITPLUS  10/20/2014  Equifax
CREDIT PLUS 10/20/2014  Experian
CREDIT PLUS 10/20/2014  TransUnion
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The credit requests will show up, but will not affect your credit score for the "shopping" period. Based on this from myfico, it looks like the interval might be 14, 30, or 45 days dependent on the scoring algorithm used by the lender.

Does the formula treat all credit inquiries the same?

No. Research has indicated that the FICO score is more predictive when it treats loans that commonly involve rate-shopping, such as mortgage, auto and student loans, in a different way. For these types of loans, the FICO score ignores inquiries made in the 30 days prior to scoring. So, if you find a loan within 30 days, the inquiries won't affect your score while you're rate shopping. In addition, the score looks on your credit report for rate-shopping inquiries older than 30 days. If it finds some, it counts those inquiries that fall in a typical shopping period as just one inquiry when determining your score. For FICO scores calculated from older versions of the scoring formula, this shopping period is any 14 day span. For FICO scores calculated from the newest versions of the scoring formula, this shopping period is any 45 day span. Each lender chooses which version of the FICO scoring formula it wants the credit reporting agency to use to calculate your FICO score.

Source: http://www.myfico.com/crediteducation/creditchecks/inquiries.aspx

  • Thank you. Also my FAKO (non-FICO) scores did take a hit though because of the new credit inquiries. – user6123723 Oct 24 '14 at 2:45

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