cancel
Showing results for 
Search instead for 
Did you mean: 

Scoring affect INQ falling off

tag
Dw4250
Valued Contributor

Scoring affect INQ falling off

I have six inquiries on Transunion scheduled to fall off between 3/4/16 and 3/17/16 from an app spree way back in 03/2014.  

 

Can I expect any type of scoring bump once these fall off?  The reason I'm asking is I'm going to apply for a mortgage within a week or two and wondering if it's worth waiting until after March 17th for all of these old INQ to drop off.

 

Thx!

Message 1 of 9
8 REPLIES 8
BallBounces
Valued Contributor

Re: Scoring affect INQ falling off

Without more detailed info, our wild guess becomes a REALLY wild guess with reagrd to changes to an unknown file.

 

However:  Conventional wisdom is that the score harm ends after ONE YEAR, rather than the TWO YEARS it takes for them to be removed from your account.  I would say it is very likley this will have precisely 0 effect on your score since it is aging off in the two year category....

 

 

 

050719:     
021924:     


FICO 08 scores listed and are stagnated until multiple derogatory items expire over the next two years.
Message 2 of 9
Dw4250
Valued Contributor

Re: Scoring affect INQ falling off


@BallBounces wrote:

Without more detailed info, our wild guess becomes a REALLY wild guess with reagrd to changes to an unknown file.

 

However:  Conventional wisdom is that the score harm ends after ONE YEAR, rather than the TWO YEARS it takes for them to be removed from your account.  I would say it is very likley this will have precisely 0 effect on your score since it is aging off in the two year category....

 

 

 


LOL!  True...but then wild guesses are our specialty on this board! Smiley Wink

 

I guess what I'm wondering is if people have seen increases in scoring after the INQ fall off (as opposed to just hitting the one year mark).  

 

I know this may be hard to tell also since the account also hits the two year mark at the same time (and thus that may be a cause of a score increase). 

 

Message 3 of 9
mechanicaljen
Regular Contributor

Re: Scoring affect INQ falling off

For whatever it's worth, I've seen a small bump after the two year INQ mark.  By small, I mean like...a point or two.

Message 4 of 9
Gmood1
Super Contributor

Re: Scoring affect INQ falling off

Those couple of inqs will have zero bearing on your mortgage venture. I wouldn't lose any sleep over it.
As long as you qualify now, a couple of points won't make a major difference.
Message 5 of 9
BallBounces
Valued Contributor

Re: Scoring affect INQ falling off


@Dw4250 wrote:

@BallBounces wrote:

Without more detailed info, our wild guess becomes a REALLY wild guess with reagrd to changes to an unknown file.

 

However:  Conventional wisdom is that the score harm ends after ONE YEAR, rather than the TWO YEARS it takes for them to be removed from your account.  I would say it is very likley this will have precisely 0 effect on your score since it is aging off in the two year category....

 

 

 


LOL!  True...but then wild guesses are our specialty on this board! Smiley Wink

 

I guess what I'm wondering is if people have seen increases in scoring after the INQ fall off (as opposed to just hitting the one year mark).  

 

I know this may be hard to tell also since the account also hits the two year mark at the same time (and thus that may be a cause of a score increase). 

 


As I said, this will have precisely 0 effect on your score. 

 

When people note a 1 point increase (and really, we are talking about one point here.....) frpom an INQ falling off, they are actually seeing the effects of payment history growing, or AAoA increasing or something similar.  You will not receive a score increase from a 2 year INQ being removed.

 

If there are other reasons for you to wait, by all means wait. but hoping for a score increase because of 24 month old inquiries isn't one of the reasons to wait. 

050719:     
021924:     


FICO 08 scores listed and are stagnated until multiple derogatory items expire over the next two years.
Message 6 of 9
Thomas_Thumb
Senior Contributor

Re: Scoring affect INQ falling off

Quite true for Fico scoring models - Inquiries impact score for only 12 months, Fico officially states this in their communications so no testing required.

 

Not true for VantageScore - Inquiries impact score for the full 24 months with VantagesScore. For those that use CK differences in how AAoA is calculated/reported and how inquiries are counted can lead to confusion relative to Fico models.

Fico 9: .......EQ 850 TU 850 EX 850
Fico 8: .......EQ 850 TU 850 EX 850
Fico 4 .....:. EQ 809 TU 823 EX 830 EX Fico 98: 842
Fico 8 BC:. EQ 892 TU 900 EX 900
Fico 8 AU:. EQ 887 TU 897 EX 899
Fico 4 BC:. EQ 826 TU 858, EX Fico 98 BC: 870
Fico 4 AU:. EQ 831 TU 872, EX Fico 98 AU: 861
VS 3.0:...... EQ 835 TU 835 EX 835
CBIS: ........EQ LN Auto 940 EQ LN Home 870 TU Auto 902 TU Home 950
Message 7 of 9
BallBounces
Valued Contributor

Re: Scoring affect INQ falling off


@Thomas_Thumb wrote:

Quite true for Fico scoring models - Inquiries impact score for only 12 months, Fico officially states this in their communications so no testing required.

 

Not true for VantageScore - Inquiries impact score for the full 24 months with VantagesScore. For those that use CK differences in how AAoA is calculated/reported and how inquiries are counted can lead to confusion relative to Fico models.


Well Thomas, perhaps if the OP heads on over to myVANTAGE.com he would get that advice.  Which might happen when mortgage lenders start using Vantage 3s.  Ummm.

 

Smiley Very Happy

 

050719:     
021924:     


FICO 08 scores listed and are stagnated until multiple derogatory items expire over the next two years.
Message 8 of 9
Thomas_Thumb
Senior Contributor

Re: Scoring affect INQ falling off

Hey - 

 

I tried myvantage.com, no such web site. Smiley Tongue

Fico 9: .......EQ 850 TU 850 EX 850
Fico 8: .......EQ 850 TU 850 EX 850
Fico 4 .....:. EQ 809 TU 823 EX 830 EX Fico 98: 842
Fico 8 BC:. EQ 892 TU 900 EX 900
Fico 8 AU:. EQ 887 TU 897 EX 899
Fico 4 BC:. EQ 826 TU 858, EX Fico 98 BC: 870
Fico 4 AU:. EQ 831 TU 872, EX Fico 98 AU: 861
VS 3.0:...... EQ 835 TU 835 EX 835
CBIS: ........EQ LN Auto 940 EQ LN Home 870 TU Auto 902 TU Home 950
Message 9 of 9
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.