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Old inquires and credit score

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capricornchanges
Regular Contributor

Old inquires and credit score

I have some inquires falling off over the next 30-90 days (about 6), am I correct in assuming this will do nothing to my score? I read somewhere that after 1 yr they no longer count against you. Or will my score increase? It would kinda suck if you get NO increase since they ding you when you get an inquiry.



1st goal: 700 across the board
Starting Scores 01/19/2018
Equifax : 579
Transunion: 585
Experian: 602

Current 07/06/2018
Equifax:662
Transunion: 645
Experian: 683








Message 1 of 9
8 REPLIES 8
Anonymous
Not applicable

Re: Old inquires and credit score

I'm guessing you won't see too much of a score jump once they are that old, but overall it'll look better visually to a lender looking at your profile having less inquiries. 

 

Update though once they fall off I'd love to know the results if it caused any score bump or not! I have a bunch due to fall off in April so I am curious myself.

Message 2 of 9
Adkins
Legendary Contributor

Re: Old inquires and credit score


@capricornchangeswrote:

I have some inquires falling off over the next 30-90 days (about 6), am I correct in assuming this will do nothing to my score? I read somewhere that after 1 yr they no longer count against you. Or will my score increase? It would kinda suck if you get NO increase since they ding you when you get an inquiry.


Depending on your profile, you might see a few points added. 


Last HP 08-07-2023



Message 3 of 9
DollyLama
Established Contributor

Re: Old inquires and credit score

They become unscoreable 1 yr on FICO 8, they still remain on mortgage scores. 2 yr mark is when age off all scoring models.

Message 4 of 9
iv
Valued Contributor

Re: Old inquires and credit score


@DollyLamawrote:

They become unscoreable 1 yr on FICO 8, they still remain on mortgage scores. 2 yr mark is when age off all scoring models.


No, inquiries are NOT counted on "mortgage scores" (EQ5/TU4/EX2) after 1 year.

 

No commonly-available FICO model scores inquiries after 12 months. (Some VantageScore models may still include months 13-24, but that's VS...)

 

The record of the inquiry itself is removed from the CRA reports after 24 months.

 

EQ8:850 TU8:850 EX8:850
EQ9:847 TU9:847 EX9:839
EQ5:797 TU4:807 EX2:813 - 2021-06-06
Message 5 of 9
Anonymous
Not applicable

Re: Old inquires and credit score


@capricornchangesIt would kinda suck if you get NO increase since they ding you when you get an inquiry.

You would have already received the score increase when they reached the 1 year mark though, so it wouldn't make sense for you to gain any additional points when they fall off.

Message 6 of 9
capricornchanges
Regular Contributor

Re: Old inquires and credit score

Really? Learn something new everyday


1st goal: 700 across the board
Starting Scores 01/19/2018
Equifax : 579
Transunion: 585
Experian: 602

Current 07/06/2018
Equifax:662
Transunion: 645
Experian: 683








Message 7 of 9
Anonymous
Not applicable

Re: Old inquires and credit score

Yes, if you took a scoring hit from receiving an inquiry, that hit would be reversed at the 1 year mark, even though the inquiry would still be present in your credit report for another year. 

 

For example, on 1/1/17 you went from 0 inquiries to 1 inquiry on EX.  Let's say your score dropped 6 points just to assign a number to the conversation.  Throughout the year your score may go up or down based on other credit-related factors.  On 1/1/18, your score would go up 6 points due to the inquiry becoming unscoreable.  It would still be visible on your credit report, though.  On 1/1/19 the inquiry would fall off, but you would not see any change to your credit score from it falling off, as you got your 6 points back on 1/1/18 already. 

Message 8 of 9
capricornchanges
Regular Contributor

Re: Old inquires and credit score

Gotcha, thanks! I just assumed that any score increase would not happen until it fell off at two yrs.


1st goal: 700 across the board
Starting Scores 01/19/2018
Equifax : 579
Transunion: 585
Experian: 602

Current 07/06/2018
Equifax:662
Transunion: 645
Experian: 683








Message 9 of 9
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