Understanding FICO® Scoring

[Sneekn4u]

Have a question on this subject....I have 3 under Myfico inq's that are dated  November 9, 2011..November 9, 2011 and a December 3, 2011 my question is when will these drop off Myfico and who is responsible for them dropping off..Myfico or the CB's and is there anything I can do on my part to help it along? Thanks guys.

[llecs]

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Sneekn4u wrote:

Have a question on this subject....I have 3 under Myfico inq's that are dated  November 9, 2011..November 9, 2011 and a December 3, 2011 my question is when will these drop off Myfico and who is responsible for them dropping off..Myfico or the CB's and is there anything I can do on my part to help it along? Thanks guys.

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The inquiries will only disappear off your myFICO reports. They'll still be visible on CMSs and reports pulled from the CRAs since they report for 2 yrs. Your FICO reports will stop scoring them at one year and will start to disappear at that time. I imagine the ones from 11/9 are off now from your FICO report.

[Sneekn4u]

My last pull was 11-15-2012 and they were still there so I'll wait till after the new year before I pull another report..I under stand that it don't effect my "score" after 12 months but do creditors still look at the ones past the 12 months in making a decision on a new line of credit or do they have the same attitude of its past a year, no big deal? How many is too much, how many if average and how many is great when it comes to their minds? And do they combine from TU and EQ or judge them separate?

[llecs]

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Sneekn4u wrote:

My last pull was 11-15-2012 and they were still there so I'll wait till after the new year before I pull another report..I under stand that it don't effect my "score" after 12 months but do creditors still look at the ones past the 12 months in making a decision on a new line of credit or do they have the same attitude of its past a year, no big deal? How many is too much, how many if average and how many is great when it comes to their minds? And do they combine from TU and EQ or judge them separate?

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It's up to lenders if they want to consider inquiries beyond a year. IME, mine didn't care beyond 6 months. YMMV on the lender of course.

Less inquiries the better. In my uninformed credit days, my inquiry count on EQ and EX hit over 30 on each and was still being approved. It isn't a big deal, but can be a factor. Definitely don't aim for 30. I have been denied for having as little as just 1 inuqiry.

Creditors have their own personal preference on who to pull. It's up to them. Most only pull 1, but they can choose to look at one or all 3 reports.

ETA....I split this post to keep the other on topic.