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Valued Contributor
Posts: 2,297
Registered: ‎07-23-2012
0

Inquiries After One Year?

i know that inq's stop effecting your score after one year.

 

but do they do anything besides fall off inbetween the one year and falling off? 

 

if i apped with a company like amex and all my inq's were a year and 10 months, the only look at the ones a year or under correct? 

 

i have 4 inq's that completely fall off by feb 13' (2 before new year) so im just curious 

 

Current: Discover Fico 709 3/15 Walmart Fico 743 4/15

Inquiries (24 Months): EQ 6 TU 1 EX 6 | Most Recent: 4/09/2015
Over 12 Months:9


2015 Goals:
Lower Utility
Earn Cash Back

Amex Zync(Unicorn)
Chase Freedom$1500
Discover IT$7,400
Citi DC $10,000
Citizens Mastercard$7,000
Regular Contributor
Posts: 205
Registered: ‎06-04-2012
0

Re: Inquiries After One Year?

I'm curious about this too.  I know they're not supposed to affect your score after one year, but there must be *some* reason they stay on  your report for 2 years.

Starting FICO 667 (5/2012) EQ
672 (7/2012) EQ. 681 (8/1/12) EQ
Current FICO 682 (10/13/12) EQ; 718 (10/13/12) TU
Goal: 760+ but 700-720 by jan 2013
No new apps tll jul 2013
Valued Contributor
Posts: 1,063
Registered: ‎05-26-2010
0

Re: Inquiries After One Year?

For FICO scoring they are only considered in a one year period, also mortgage and auto inquiries that are close together are counted as a single inquiry so shopping for a major loan isn't penalized.

BK7 Filed 8/11/2009 Discharged 11/23/2009. Purchased new home 4/11/2012
Starting Score:11/16/2009 EQ 566 11/16/2009 TU 538
Interim Score: 12/27/2012 EQ 683 09/17/2012 EX (lender) 670 1/01/2013 TU 701
Current Score: 11/06/2013 EQ 708 11/06/2013 EX 702 11/16/2013 702 11/06/2013 TU 729
Goal Score: EQ 740 EX 740 TU 740
Take the FICO Fitness Challenge
Established Contributor
Posts: 760
Registered: ‎02-11-2012
0

Re: Inquiries After One Year?

They stay on there so whomever you are requesting credit from can see your past history/desires more accurately. A person with lots of recent inquiries creates a red flag.

Starting scores 01/02/2012 EQ 707(Fico) TU 733(Fico) EXP 735 (FAKO)
Updated scores 06/01/2014 EQ 797(Fico) TU 768(Fico) EXP 769 (Fico), EQ 849 (Next Gen 5/27/14 Penfed)


Remember the Three P's: Pay early in Full, Pay on Time, Patience
Valued Contributor
Posts: 2,297
Registered: ‎07-23-2012
0

Re: Inquiries After One Year?

Yeah but can you get denied for to many inquiries if they are all over a year old?
Current: Discover Fico 709 3/15 Walmart Fico 743 4/15

Inquiries (24 Months): EQ 6 TU 1 EX 6 | Most Recent: 4/09/2015
Over 12 Months:9


2015 Goals:
Lower Utility
Earn Cash Back

Amex Zync(Unicorn)
Chase Freedom$1500
Discover IT$7,400
Citi DC $10,000
Citizens Mastercard$7,000
Valued Contributor
Posts: 2,789
Registered: ‎10-10-2012
0

Re: Inquiries After One Year?

I would venture to say yes. I have seen some denied for too many inquiries when they only had 1 or 2 within the last 12 months, but several over a year old.

Starting Score: EQ 717 EX 724 TU 736
Current Score: EQ 816 EX 780 TU 823
App free since 4/11/13
Valued Contributor
Posts: 2,297
Registered: ‎07-23-2012
0

Re: Inquiries After One Year?


Epcot wrote:
I would venture to say yes. I have seen some denied for too many inquiries when they only had 1 or 2 within the last 12 months, but several over a year old.

alright thanks. im not applying anytime soon but all my inq will be a year old and will have 

eq-8

ex-7

tu-5

i know this is alot (because of my bank/amex/car loan-6/3/6 pulls in total the other 5 are all from cc that i got)
Everything will be off in aug '14

all way over a year old. and if my plan goes well ill be apping in jan of' 15 anyway for just amex. to get a 3 year backdate. 

and a cli on freedom. 

 

when i started apping (first started with checking account and hit on eq)

i had about 6 inq total over 3 reports. and 3-4 newer then a year. 

Current: Discover Fico 709 3/15 Walmart Fico 743 4/15

Inquiries (24 Months): EQ 6 TU 1 EX 6 | Most Recent: 4/09/2015
Over 12 Months:9


2015 Goals:
Lower Utility
Earn Cash Back

Amex Zync(Unicorn)
Chase Freedom$1500
Discover IT$7,400
Citi DC $10,000
Citizens Mastercard$7,000
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Epic Contributor
Posts: 21,568
Registered: ‎03-19-2007
0

Re: Inquiries After One Year?

Both credit reports and their associated FICO scoring are tools that a creditor can choose to use or not to use, and the extent to which any factor affects their decision is up to them, provided of course their consideration does not violate any other provision of law, such as illegal discrimination.

 

The fact that FICO chooses to discontinue inclusion of inquiries in their scoring after one year is based on their determination that such inquiries are no longer risk-predictive.

I would suspect that most creditors, seeing inquiries over one year, would reach the same conclusion.

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