6m makes no difference, will 9m?

Anonymous · ‎10-08-2015

Recently my newest inquiries, along with my newest accounts, aged to 6m. No change in score. It doesn't make a difference when things age to 6m.

Now another two inquiries are about ot age to 9m, along with one account (the other inquiry was for a CLI). These are not my oldest accounts, the 6m ones are still there just over 6m.

Question is whether 9m will make a diffeence where 6m does not -- in the next week I'll know if it matters for any inquiry. In a few more months I'll know if it matters when it is your youngest account hitting 9m.

Thoughts?

I guess I predict it will NOT matter. That then means that when you open a new account and get a HP for it along with whatever new account penalty, that you pay that penalty for at least a full year. At a year the inquiry drops off, unclear when exactly the new account penalty wears off.

But it would seem that nothing happens faster than 1 year, evern though many sites report that the impact diminishes. So far no evidence of that.

If 9m matters next week my score will increase slightly, if it doesn' matter it won't. I check it daily and unless we're super unlucky will be able to tell the difference between a change in a balance and the aging of an account (because they'll happen on different days).

Anonymous · ‎10-08-2015

Credit hard inquiries age off score in 1 year and age off report in 2

NRB525 · ‎10-09-2015

OP have any of your accounts hit a full year yet? Looks like the oldest are November 2014?

The Info icon in your siggy has a hover that doesn't hold up very long. Do you have an Excel grid of the timing of INQ and new accounts you could post?

High Bal Jan 2009 $116k on $146k limits 80% Util.
Oct 2014 $46k on $127k 36% util EQ 722 TU 727 EX 727
April 2018 $18k on $344k 5% util EQ 806 TU 810 EX 812
Jan 2019 $7.6k on $360k EQ 832 TU 839 EX 831
March 2021 $33k on $312k EQ 796 TU 798 EX 801
May 2021 Paid all Installments and Mortgages, one new Mortgage EQ 761 TY 774 EX 777
April 2022 EQ=811 TU=807 EX=805 - TU VS 3.0 765

Anonymous · ‎10-09-2015

EX inquiries: 11/4/2014, 11/4/2014, 11/16/2014, 11/21/2014, 1/18/2015, 4/3/2015

My oldest account is from 8/1/2014 so 14 months now.

The 1/18/2015 inquiry on EX will hit 9 months soon. We have already seen that inquiries aging to 6 months has no effect, the question is whether there is any effect between 6 months and 12 months when they stop counting.

My guess is there will be no score impapct and that in fact inquiries carry the full penalty for the entire 12 months and then drop off.

NRB525 · ‎10-10-2015

To really run this experiment to ground you'd have to not app until April 2016, correct?

Regarding INQ holding their effect for 12 months, my EX is building a similar test.

Feb 2014 (not on MF, unknown impact)

Dec 2014 -3

Jan 2015 -7

Apr 2015 -7

Jul 2015 +1 (combined with reporting USBank typical CC balance declines)

Jul 2015 -5 (makes 6 within that last 12 month period - Score impact zero after this)

Aug 2015 0

Oct 2015 0

High Bal Jan 2009 $116k on $146k limits 80% Util.
Oct 2014 $46k on $127k 36% util EQ 722 TU 727 EX 727
April 2018 $18k on $344k 5% util EQ 806 TU 810 EX 812
Jan 2019 $7.6k on $360k EQ 832 TU 839 EX 831
March 2021 $33k on $312k EQ 796 TU 798 EX 801
May 2021 Paid all Installments and Mortgages, one new Mortgage EQ 761 TY 774 EX 777
April 2022 EQ=811 TU=807 EX=805 - TU VS 3.0 765

Anonymous · ‎10-10-2015

What I will be able to tell is whether an inquiry aging to nine months loses its impact. I won't be able to tell if the requirement is to have NO inquiries under nine months unless I app nothing until April, and that won't happen, I plan a car loan and PLOC in November/December.

I did previously watch day by day as my two youngest inquiries aged over six months and saw no change.

Anonymous · ‎10-10-2015

In late October and November I will start to see inquiries hitting 1 year and obviously expect that to matter. In fact the timing of my planned auto purchase and PLOC app is based on doing it just after the bulk of the inquiries hit 1 year.

Anonymous · ‎10-11-2015

Inquiries are not weighted with any significace in auto loan underwriting. Apply for it whenever you're ready

Anonymous · ‎10-17-2015

Tomorrow one of my inquiries will hit 9 months. It made no score difference when it hit six and I am expecting no difference tomorrow at nine months.

Pulling my report today from Experian and will pull again tomorrow and Monday so I can compare.

If no change I think this will confirm that inquiries carry their full penalty for the entire year then drop off.

Revelate · ‎10-17-2015

@Anonymous wrote:
Tomorrow one of my inquiries will hit 9 months. It made no score difference when it hit six and I am expecting no difference tomorrow at nine months.

Pulling my report today from Experian and will pull again tomorrow and Monday so I can compare.

If no change I think this will confirm that inquiries carry their full penalty for the entire year then drop off.

Heh, I had a confirmation of that in my own data; full monty FICO wise as long as they're on there.