@Anonymous wrote:
@RobertEG wrote:The deletion of inquries is not regulated under any provision of the FCRA.
It is purely a housekeeping function determined by the CRAs, and not a determination under FICO, and thus has no rigid removal date.
Retention after two years is not a violation of any provision of the statute or regulation.
FICO makes its determination to exclude from scoring at one year based on its own view of whether an inquiry still has predictive value at one year.
The CRA determination to retain for two years is based primarily on statutory requirements to provide record of prior inquiries if requested to do so, and not on a determination of their predictive scoring value.
Yikes, I find that very troubling, as I've been looking forward to my 2 year rebuild anniversary later this year. Thanks for that information. I was hoping to have most of my inquiries fall off so that I could begin another round of action looking much less needy, and move on to cards that better suit me after a long wait(much of the wait, unlike most on here, was before I began actively rebuilding). I also dont want to rely on Chase reps catching that the inquiries are over 2 years, and forgetting they saw all of them when it comes time to issue the spending limit.
Again, I'm actually more curious if anyone has had a decent number of accounts in good standing hit the 2 year anniversary at the same time(preferably for the first time), and what that either did or didn't do to the score. I can start another thread, but was hoping the OP would see this and reply about their experience, along with others. Thanks again for sharing that information, which could be valuable knowing, depending on how things play out.
Haven't found any tradeline seasoning boundaries personally, but I was in a derogatory scorecard for virtually my entire time testing... I have had a bunch of accounts hit the 2 year boundary all at once a few times and my EQ FICO 5 has been Dixie Flatlined.
There's a reason code for non-derogatory scorecards at least in TU FICO 4 that I've recently seen and I think the other FICO 04 models and industry options for:
1. You opened a new credit account relatively recently. (that's the MF verbiage for it)
People have stated that goes away after a year, I'm going to try to see if it changes in severity at the six month mark, but at least to my knowledge based on what people have posted there isn't anything at the 2 year mark outside of AAOA and the like, nothing for individual tradelines.
Rookie: yeah, the product people at FICO Consumer decided to limit the inquiries they display to only the ones which might be affecting your score, so only ones within the last year.
