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12-18-2007 05:17 PM
12-18-2007 05:19 PM
There should be no average. They remain for 2 years but only affect your score for 1 year.
landocalrissian wrote:I know this question has been asked before, but I need to know the average time it takes for inquiries to fall off of the CR's. I have 13 and I know that this is affecting my scores and my ability to get CLI's and potentially new credit down the line.
12-18-2007 05:19 PM
12-18-2007 05:29 PM
12-18-2007 06:29 PM
Thanks for the intel. Now I guess I might have to wait a year to apply for new credit. Not a problem. I am trying to manage the 7 cards that I have and develop a good credit history. Dilute the bad credit with the good.
I've been told that the inq's carry the full damage for one year, and then *poof* zero damage, although they will display if someone pulls your report. What does start to fade: if your inq worked, and you got new credit from it, the hit from the newness starts to fade after 3 months, and then again at 6 months.
So if you read about inq's hurting less after 6 months, what's probably going on is that the CC that came from it had its 6-month birthday, and then was a score bump from that.
If this works for you, you might do a rolling calendar. Get familiar when things hit 3 months, 6 months, 12 months, 18 months, and 24 months. This includes inqs, new accounts, lates, all that good stuff. Sometimes you get little surprise score bumps just from something getting a little bit older.
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