topic Point gain for inquiry drop off... in Understanding FICO® Scoring

Point gain for inquiry drop off...

HeidiBoo — Fri, 17 Oct 2008 18:53:33 GMT

I have 5 inquiries from 10/07 that will drop off (at least for points purposes - they will be > 1 year old) at the end of this month. Any thoughts on how many points I can look to gain?

Thanks!

PS - I realize they don't actually go away until after the 2 year mark...just to clarify...right now I have 8 inquiries showing up on my Experian report from MyFico. Five of these are dated 10/21-10/31/07, which will only leave three as of November 1st for scoring purposes.

Message Edited by HeidiBoo on 10-17-2008 11:51 AM

Message Edited by HeidiBoo on 10-17-2008 11:53 AM

Re: Point gain for inquiry drop off...

llecs — Fri, 17 Oct 2008 19:03:22 GMT

I bet 0 points, but if you had any new accounts that were associated with these inquiries and if they are going to hit the one year mark in another month or so, then I bet you'll see higher gains.

Re: Point gain for inquiry drop off...

HeidiBoo — Fri, 17 Oct 2008 21:51:16 GMT

Two inquiries resulted in new accounts. Also, these are only apprearing on my EX report. EQ & TU are fine. I'll cross my fingers!!!

Thanks!

Re: Point gain for inquiry drop off...

gbreadman — Fri, 17 Oct 2008 23:42:13 GMT

One inqury usually drops me by 3 points, but I heard multiple inquiries drops it even further. So at the bare minimum, I would say you're looking at a 15 point gain.

Dan