02-12-2008 08:06 AM
02-12-2008 08:31 AM
No, you won't gain any points for inquiries dropping off. They drop off after two years, but FICO only counts them for one year, so you get the points back when they turn one year old, not when they drop off.
glamchick wrote:I have two inquiries coming off this year will i earn any points because of this? If so how many?
02-12-2008 08:58 AM
02-12-2008 03:53 PM
02-13-2008 12:38 AM
02-13-2008 06:26 AM - edited 02-13-2008 06:28 AM
The more inq's you have, the more they hurt your score. One inq doesn't effect you that much, but going from 8 inq's to 5 inq's will have a larger effect.
02-13-2008 06:46 AM
I think that the score calculator figures once you havetoo many inqs you are usually going to get denied credit anywaay
cheddar wrote:True to a point. It seems the biggest damage usually happens with INQ #2 or #3, but if you already have, say, 15, for example, then #16 is not going to have as much of an incremental effect as #2 did.ETA: I just added #7 on EQ, and my score didn't budge.
02-13-2008 07:27 AM
cheddar wrote: True to a point. It seems the biggest damage usually happens with INQ #2 or #3, but if you already have, say, 15, for example, then #16 is not going to have as much of an incremental effect as #2 did.ETA: I just added #7 on EQ, and my score didn't budge.Message Edited by cheddar on 02-13-2008 06:28 AM
02-13-2008 07:45 AM
You make a good point. And you also bring us back to the original question. Glamchick has two inquiries that will be falling off this year. And the answer to her question is that when the first (of 2) inquiries passes 12 months, she should see a small rise. When the second passes the 12 month mark, there will be little, if any, change since FICO doesn't seem to mind the occasional inquiry into credit.
02-13-2008 07:55 AM
Unless she means fall of MyFICO reports - they do actually disappear from MyFICO reports after a yearcheddar wrote:The point I was making in my original post was that she won't get a boost when they fall off. It's all about the one-year anniversary.