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inquiries and 2 year reporting period

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Tuxedo77
Contributor

inquiries and 2 year reporting period

In everyone's experience, after the scoring impact from inquiries to your credit report fades away after 1 year, how do lenders view inquiries that have yet to 'disappear' (greater than 1 year but less than 2). I'm sure a manual review would raise questions, but online (automated) applications should show no adverse effect right?
AMEX: PRG, EDP - Citi: Double Cash WMC - Barclay's: Sallie Mae WMC, RMC - Discover: IT - Chase: Freedom
Message 1 of 6
5 REPLIES 5
dpechal
Regular Contributor

Re: inquiries and 2 year reporting period

The inquiries affect your FAKO scores, but apparently not FICO scores.  As from a lenders view I unfortunatley cannot assist you.

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Message 2 of 6
longtimelurker
Epic Contributor

Re: inquiries and 2 year reporting period


@Tuxedo77 wrote:
In everyone's experience, after the scoring impact from inquiries to your credit report fades away after 1 year, how do lenders view inquiries that have yet to 'disappear' (greater than 1 year but less than 2). I'm sure a manual review would raise questions, but online (automated) applications should show no adverse effect right?

If the automated system is purely based on FICO score, yes, but it may also look at # of inqs etc anyway.

Message 3 of 6
missjae
Established Contributor

Re: inquiries and 2 year reporting period


@Tuxedo77 wrote:
In everyone's experience, after the scoring impact from inquiries to your credit report fades away after 1 year, how do lenders view inquiries that have yet to 'disappear' (greater than 1 year but less than 2). I'm sure a manual review would raise questions, but online (automated) applications should show no adverse effect right?

I have tons of inquiries from last year.  I mean in the 20's on some reports.  During my most recent app spree, I wasn't asked about any of the inquiries (now over a year old) and I apped with Chase, Barclay's, BOA, and Amex.  The Barclay's and BOA both had manual reviews.

Message 4 of 6
red259
Super Contributor

Re: inquiries and 2 year reporting period

I have no inside knowledge of a lender's view, but if something is over a year I think its less of a concern to a lender. Granted if you had 50 inqs last year then that would raise a flag, but I figure after a year of calm and good payment history most lenders won't be as concerned. Especially with a thicker file. Keep in mind you have people who churn credit cards every 90 days getting new cards (albeit with a very thick file).

;
Starting Score: EQ: 714, TU 684
Current Score: EQ: 725 7/30/13, TU 684 6/2013, Exp 828 5/2018, Last App 8/5/17
Goal Score: 800 (Achieved!) In garden until Sepetember 2019
Message 5 of 6
Tuxedo77
Contributor

Re: inquiries and 2 year reporting period

Wow misssJae, did you get approval on all 4 apps?
AMEX: PRG, EDP - Citi: Double Cash WMC - Barclay's: Sallie Mae WMC, RMC - Discover: IT - Chase: Freedom
Message 6 of 6
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