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Hey...I have 8 hard inquiries on my CR that date back to June of 2010. Any idea how long these will take to drop? Can I do anything to make it happen faster? Most of these are more than two years old. They're all legitimate inquiries but I could really use them gone. I know that people say that they dont effect your score after a year but Experian is saying I still have 5 hard inquiries on my report, yet all of but one of the ones listed are all more than 2 years old.
It's only July 3rd, they'll probably be off within the next week or two. Give it a few days to update.
And they don't account into your FICO scoring after a year. They just show up on your report from Year 1 to Year 2, but you need to give it at least a few days to update.
Follow my financial journey: http://www.frugalrican.com
I hear they dont account into my score, but if I use this "score esitmator" thing on equifax's website it says I have 5-6 hard inquiries on my report, only one of them is not two years old...if I estimate it to zero, my score jumps up about 45 points....I'm sure you can see why im so paranoid/anxious about this. lol.
I'm just in a rush to do this because I need to apply for a lease for a car soon, and rent a new apartment.
Let's just say, personally, I don't put too much stock into score estimators.
Follow my financial journey: http://www.frugalrican.com
@viventi wrote:I hear they dont account into my score, but if I use this "score esitmator" thing on equifax's website it says I have 5-6 hard inquiries on my report, only one of them is not two years old...if I estimate it to zero, my score jumps up about 45 points....I'm sure you can see why im so paranoid/anxious about this. lol.
I'm just in a rush to do this because I need to apply for a lease for a car soon, and rent a new apartment.
Score estimates are just that, estimates.
It has been shown, discussed and confirmed time and again that inqs stop factoring after 1 year.
They will be off your report shortly, maybe 30 days or so at the most.
-scott
I hear you, for sure...I didnt put much faith into it either. But it gave me a fairly accurate one though when I brought down my percentage of debt to credit ratio and then actually changed my radio to like 3%. We'll see...i appreciate the responses though, thanks!
Don't compare the estimator when it comes to INQ's versus paydowns.
Not the same, and still, might not be entirely accurate.
What's your FICO score?
Follow my financial journey: http://www.frugalrican.com
My score with Experian is currently 585...up from around 550 after bringing my debt to credit ratio down to around 3%.
I have a few things that're really hurting my score right now. You can find them here... http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/I-could-really-use-some-help-with-goodwill-le...
I also have a few hospital bills that were in collections from a car accident, these were reported erronously and my lawyer sent the three CA's a letter asking them to be removed, as of a week ago two of them have been removed, the last one responded to his letter and I'm just waiting for it to fall off now. Any idea on how long these will take to have an effect on my credit score?
@viventi wrote:I hear you, for sure...I didnt put much faith into it either. But it gave me a fairly accurate one though when I brought down my percentage of debt to credit ratio and then actually changed my radio to like 3%. We'll see...i appreciate the responses though, thanks!
http://myfico.custhelp.com/app/answers/detail/a_id/200
How long do inquiries stay on my credit report?
Inquiries remain on your credit report for two years, although FICO® scores only consider inquiries from the last 12 months. FICO scores do a good job of distinguishing between a search for many new credit accounts and rate shopping for one new account.
Straight from the horses mouth...
Sounds like you're using the Experian website for your credit score as well?
Scores you get from websites other than MyFICO are generally FAKOs and are not used by lenders. You might see an increase in that Experian score when 2 year old inquiries drop off. But there won't actually be an increase in your FICO score. Also, you can't purchase your Experian FICO. It has to come from a lender.
Inquiries don't affect your FICO score after 1 year. They just don't. You might see your FAKO boost, but when it comes to getting credit, that doesn't mean anything at all.