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I heard that inquiries stay on your CR for 2 years. When I log into my myfico dashboard, it shows only one year of inquries (may 15- may 16). Is this one year of inquries impacting my credit, did the other year fall of or do they all figure in my together?
They stay on your report for 2 years but only impact your scores for 1 year.
Neither period is regulated under the FCRA.
They are both based on their own administrative determinations, one by Fair Isaac and the other by the CRAs,
The CRAs have administratively decided to discontinue inquiries after two years, both because they feel their customers dont want to see inquiries older than two years, and to retrieve the immense database space needed to store all that info. It can be done earlier or later at the discretion of the CRA,
Fair Isaac has separately determined that inquiries are not a substantial factor in their risk analysis after one year, so have discontinued their scoring after a year.
Total CL: $321.7k | UTL: 2% | AAoA: 7.0yrs | Baddies: 0 | Other: Lease, Loan, *No Mortgage, All Inq's from Jun '20 Car Shopping |
myFICO made the choice to simply display the inquiries within the last year; anything beyond that since it isn't counted in any of the FICO algorithms, was simply ignored, likely as superfluous fluff.
It bothered me at one point, but recently trying to sort through CK's inquiry list attempting to figure out when they will be excluded (soon cat, soon!) has given me a new appreciation for the MF method of just focusing on ones that matter.