Zero effect on the credit score despite multiple inquiries

[thecard]

I used to be quite cautious when it came to applying for a credit card. In the past two years, I have only made one inquiry for a credit card.

However, about a month ago, I had a spontaneous thought, "Aaj kuch tufani karte hain" As a result, my credit report now shows 8 inquiries made within the past month.

Surprisingly, my credit score, which was previously at a solid 795, hasn't been impacted by a single point. To verify this, I repeated the same process for my wife's account 14 credit inquiries, and even there, we observed no adverse effects on her credit score. Her credit history is only 4 months old, with 0 effect on her score.

I suspect that credit bureaus may exclude certain types of inquiries from their calculations, especially considering the abundance of credit card, and credit line products offered by fintech companies nowadays.

 

[Shubham Yadav]

I used to be quite cautious when it came to applying for a credit card. In the past two years, I have only made one inquiry for a credit card.

However, about a month ago, I had a spontaneous thought, "Aaj kuch tufani karte hain" As a result, my credit report now shows 8 inquiries made within the past month.

Surprisingly, my credit score, which was previously at a solid 795, hasn't been impacted by a single point. To verify this, I repeated the same process for my wife's account 14 credit inquiries, and even there, we observed no adverse effects on her credit score. Her credit history is only 4 months old, with 0 effect on her score.

I suspect that credit bureaus may exclude certain types of inquiries from their calculations, especially considering the abundance of credit card, and credit line products offered by fintech companies nowadays.

All of these because of Tofaani nature !!!

 

[LIIT]

Either the algo's waiting to see what's your acceptance ratio (how many credit cards do you actually get) or, more likely,

Scam hai bro credit score.

Bahana chaiye tha to make everyone get a credit card.
No formula for credit score is public. No consistency is ever seen.

 

[AritraSaha]

I used to be quite cautious when it came to applying for a credit card. In the past two years, I have only made one inquiry for a credit card.

However, about a month ago, I had a spontaneous thought, "Aaj kuch tufani karte hain" As a result, my credit report now shows 8 inquiries made within the past month.

Surprisingly, my credit score, which was previously at a solid 795, hasn't been impacted by a single point. To verify this, I repeated the same process for my wife's account 14 credit inquiries, and even there, we observed no adverse effects on her credit score. Her credit history is only 4 months old, with 0 effect on her score.

I suspect that credit bureaus may exclude certain types of inquiries from their calculations, especially considering the abundance of credit card, and credit line products offered by fintech companies nowadays.

Do u have a couch/sofa in your house.?

 

[AlgoTrader]

It depends on type of enquiry as well.

 

[thecard]

Either the algo's waiting to see what's your acceptance ratio (how many credit cards do you actually get) or, more likely,

Scam hai bro credit score.

Bahana chaiye tha to make everyone get a credit card.
No formula for credit score is public. No consistency is ever seen.

Let's see, 2 approved without any verification (HDFC, Axis), are yet to appear on the report.
a. One very precious RBL PaisaBazar rejected by internal policy - Thank God!
b. 3 applications left midway
c. 1 duplicate query by HDFC

 

[plastikman]

@S S V Your views please ?

 

[Harry1]

Enquiries and rejections and even closing oldest card have very low weight. My credit score is constant within +/-2 from 2+ years. I always have 1-2 enquiries and rejections every month. Once I had 8-9 enquiry in 2 months. Have closed my 3 oldest cards also.

Even in score simulator, u can see. Only thing that matters is on time payment and credit utilisation ratio.

 

[Sahilhenzy]

agreed

 

[SSV]

I used to be quite cautious when it came to applying for a credit card. In the past two years, I have only made one inquiry for a credit card.

However, about a month ago, I had a spontaneous thought, "Aaj kuch tufani karte hain" As a result, my credit report now shows 8 inquiries made within the past month.

Surprisingly, my credit score, which was previously at a solid 795, hasn't been impacted by a single point. To verify this, I repeated the same process for my wife's account 14 credit inquiries, and even there, we observed no adverse effects on her credit score. Her credit history is only 4 months old, with 0 effect on her score.

I suspect that credit bureaus may exclude certain types of inquiries from their calculations, especially considering the abundance of credit card, and credit line products offered by fintech companies nowadays.

@S S V Your views please ?

No of recent enquiries and their impact on the score gradually decreases as your credit profile ages.. these two elements are inversely proportionate..
After some years, you won't even see the impact on the score even if you make 10 enquires, or so and at some point they become insiginificant...
Having said that, you won't necessarily see this impact immediately.. it may take sometimes some days.. so, wait for a week or 10 days to see if these enquiries have some impact on your wife's score..

 

[CARDiologist]

The definition of real toofani

 

[Shubham Yadav]

The definition of real toofani

 

[thecard]

No of recent enquiries and their impact on the score gradually decreases as your credit profile ages.. these two elements are inversely proportionate..
After some years, you won't even see the impact on the score even if you make 10 enquires, or so and at some point they become insiginificant...
Having said that, you won't necessarily see this impact immediately.. it may take sometimes some days.. so, wait for a week or 10 days to see if these enquiries have some impact on your wife's score..

Perfect! I am impressed with your insight.

I will update here again next month. I have 7 years of history

 

[raghu.rokda]

The definition of real toofani

Edit kiya hua lag raha

Ek zero or bada dete bhai

 

[SSV]

Perfect! I am impressed with your insight.

I will update here again next month. I have 7 years of history

Thank you for your aprreciation... and very good to see that you have comprehended my post very well ...

 

[PavanPavan is verified member.]

Just checked after reading this thread i have 49 enquirers from Jan 2021 and Cibil is 797 :'(

 

[PavanPavan is verified member.]

Mine
View attachment 30031

WOoow which bank is left ?

 

[SSV]

WOoow which bank is left ?

The question should have been which bank has the least number of enquiries.. Not which bank was left out??

 

[SSV]

Just checked after reading this thread i have 49 enquirers from Jan 2021 and Cibil is 797 :'(

with 797 , are you happy or not happy??

 

[raghu.rokda]

The question should have been which bank has the least noumber of enquiries.. Not which bank was left out??

Least with Gramin seva bank only eight enquiries