Question on Inquiries

[Shoebox]

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. 

[azguy13]

INQs will stay on your CR for 2 years however they are only calculated into your Fico score for the first year

[Shoebox]

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.

[azguy13]

---

@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. 

[Shoebox]

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!

[azguy13]

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