Is There Anything I Can Do About Inquiries??

[Anonymous]

On Sept. 4, we (hubby and I) payed off 99% of our cc debt in hopes of raising scores for new home purchase. Well, since 9/4, BoA closed our acct, Paypal MC did a CLD from $1500 to $200 and I received a letter from Home Depot today reporting another CLD (originally $4500..decreased earlier this year to $1300 and now $800).

They all stated this as one of the reasons: "TOO MANY INQUIRIES IN THE LAST 12 MONTHS"

After viewing my CR, I counted 35 inquiries since 03/2007..around that time we were preparing to relocate to SC and I opened about 3 new cc's at that same time; on top of that the apartment complex, light co, phone co, etc pulling my credit (in addition I was added as AU on 3 new cc's that hubby opened as well) so needless to say it was a busy time for our credit last year.

But now we're trying to improve our credit score to buy a home in 6-12 months and I'm not sure if inquiries is one of the aspects of the credit score that I can do something about...this is obviously affecting my score and certainly played a part in Home Depot's decision. Any advice?

[Anonymous]

Inquiries count for 10% of your score.

After one year, they still show on your report, but do not affect your score. Basically any inquiry prior to today 9/23/08 do not count against your score....although creditors do see them.

In 6 to 12 months all 35 won't matter anymore and IF this is the only thing affecting your score it will be fixed by then.

Apartments, Utility companies etc. should have done soft pulls that shouldn't affect your score.....

I will put this in caps just because it has worked for me so I try and tell anyone who asks how to raise their score....USE CREDIT ON ONE CARD ONCE A MONTH TO SHOW ACTIVITY, A SMALL BALANCE AS LITTLE AS ONE BUCK....THIS SHOWS CREDITORS THAT YOU CAN USE CREDIT RESPONSIBLY.

Good Luck!!! Don't get discouraged!
:-)