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How long do inquiries stay on your CR? I have 4 from this year (2 for AT&T for cell phone, 1 for a USAA auto loan, 1 for a Best Buy card). Do they drop off after a year or stay on your record longer? I'm trying for a clean slate in 2014 and no inquiries for a long while to let things settle down.
INQs will stay on your CR for 2 years however they are only calculated into your Fico score for the first year
Thanks for the quick reply. How much of a factor do they weigh in the overall FICO score? 10%? 20%? Thanks again. Trying to get up to speed on all of this. Love this forum and all the help it provides.
@Shoebox wrote:Thanks for the quick reply. How much of a factor do they weigh in the overall FICO score? 10%? 20%? Thanks again. Trying to get up to speed on all of this. Love this forum and all the help it provides.
I can't remember the exact number but it is around 10%. Also, after a certain point, INQs dont really effect your score that much. You will take your biggest hit on the first couple.
Thanks again. Very impressed by your lines of credit. Were you in a bad place once, too? Just wondering so that I know there's hope for me down the road!
In 2009 my score was in the low 500s and the only card I had was a Military Star Card with $1K CL. The only reason I got teh $1K CL was because I app'd for it when I was 18, before I screwed up my credit.
I would say 75% of the people on this forum came from a low score