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When Does Inquiry Stop Hurting your Score

Contributor

When Does Inquiry Stop Hurting your Score

I have read that inquiries stop hurting your score after 1 year.  For example, if the inquiry was in July 2011 will this age and imporve the score a little more?  I know that it does not come off the report for 2 years, but  how does this work.

8 REPLIES
Senior Contributor

Re: When Does Inquiry Stop Hurting your Score

All I've read says they stop being factored after one year. Two of mine are coming up on the one year mark this week. Ex should go up but it's a FAKO so there's no telling if the score change is predictive.


Starting Score: 675
Current Score: EX 753 FICO, EQ 737FICO, TU 738
Goal Score: 776 FICO


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Super Contributor

Re: When Does Inquiry Stop Hurting your Score


praise123 wrote:

I have read that inquiries stop hurting your score after 1 year.  For example, if the inquiry was in July 2011 will this age and imporve the score a little more?  I know that it does not come off the report for 2 years, but  how does this work.


That's correct....assuming that you didn't incur any more recent inquiries you might expect a small FICO score bump.   

March2010 FICO® ~ 695 TU, 653 EQ, 697 EX
Regular Contributor

Re: When Does Inquiry Stop Hurting your Score

I just got a SW yesterday. The only thing different was the 1-yr anniversary of one of the 2 inq. I got bumped 10 points!!!!! YMMV but I got +10 going from 2 inq to 1. And it had nothing to do with a new account hitting a year (that inq was for rent approval).

Contributor

Re: When Does Inquiry Stop Hurting your Score

Thats great to hear.  I have a few that are going to age out in July, august, november for that year mark, but I also have several HP that were needed to get credit approved in June.  I hoping things settle down by December so I can be cleared with the mortgage approval.  Thanks~

New Member

Re: When Does Inquiry Stop Hurting your Score

I actually think they could last as long as two years, but I'm assuming over time they will have less impact.

 

I just applied today for a Discover Card.  I got declined and the only reason it said was "Too many inquiries in last 24 months."

Super Contributor

Re: When Does Inquiry Stop Hurting your Score


nicknrm wrote:

I actually think they could last as long as two years, but I'm assuming over time they will have less impact.

 

I just applied today for a Discover Card.  I got declined and the only reason it said was "Too many inquiries in last 24 months."


Inquiries will stay on your reports for 2 years, but FICO scoring ignores them after the first year.     However, creditors may look at your report and choose to include anything ( including older inquires ) in their own analysis.

March2010 FICO® ~ 695 TU, 653 EQ, 697 EX
Valued Contributor

Re: When Does Inquiry Stop Hurting your Score


nicknrm wrote:

I actually think they could last as long as two years, but I'm assuming over time they will have less impact.

 

I just applied today for a Discover Card.  I got declined and the only reason it said was "Too many inquiries in last 24 months."



too many in 24 mos yikes! i figured they would over look them after 12 mos

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Valued Contributor

Re: When Does Inquiry Stop Hurting your Score

I have 7 on eq all due for 1 year mark in nov so im all antsy on a score bump as well

NFCU plat 5k | NAVCHECK 5k | NFCU cashrewards 15k | BOFA 123 6k |
Chase Freedom 1.5k | Amazon 3K | Walmart 3K | Buckle 300 | AMEX BCE 2.5K | CHASE CSP 12K | CITI sears 6k | Kay 2k

On the prowl for Chase Sapphire Preferred! APPROVED 12K!
scores 7/14 647 622 630 (85%util)
scores 8/14 767 760 758 Boom! finally in the 700 club