18 Inquiries on Equifax

[Uncle_Money]

I know, that's way too many. I used to be app happy but I've since slowed down w/ apping.

My question is, will I see a Fico increase when these drop off or it doesn't really matter since they only account for 10% of my score?

BTW, Chase says as long as they see an inq on a credit report, it counts to them, whether it was from six months ago or 18 months ago.

-UM

[DI]

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@Uncle_Money wrote:

I know, that's way too many. I used to be app happy but I've since slowed down w/ apping.

My question is, will I see a Fico increase when these drop off or it doesn't really matter since they only account for 10% of my score?

BTW, Chase says as long as they see an inq on a credit report, it counts to them, whether it was from six months ago or 18 months ago.

-UM

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You will see a score increase one year after the inquiry occured.  FICO only penalize new inquiries for one year although they appear for two years.  You get one free inquiry each year.  

If that's what Chase says, you still have to deal with its rules too.  But overall, again, inquiries only effect your FICO score for one year.  

Message Edited by DI on 12-23-2009 08:03 PM

[Anonymous]

I don't know about that. I just had 4 INQ's that fell off after 2 years and everytime 1 dropped off my score went up a few points.

[marty56]

The problem I see with large number of INQs is the potential for secondary effects like AA by other creditors.  Also the effect of a large number of new TLs in terms of AAoA and AA as well.  My experience with EQ is that I get 2 free INQs going from 0 to 2.

[Woolfman]

*knocks on wood* I currently have 27 inq on Equifax. Since 2008 is when i actually started to rebuild my credit, bought a car , bought a house, went on a few mini app sprees.  I went almost 10 years without doing anything with credit . I have yet to see it actually effect me in anyway . Not a single card i have has raised my rates or cut my lines . BOA over the last two years has given me 2500 in CLI (just as one example) 

I really dont think its a good idea to have alot of inquiries , But i also wouldnt worry over it (that much) .. hehe

[creditwherecreditisdue]

Information on INQ's available here:

     http://www.myfico.com/CreditEducation/Questions/Inquiry-Credit-Score.aspx

     http://www.myfico.com/CreditEducation/CreditInquiries.aspx