Re: Inquiries After One Year?

creditnocash · ‎07-23-2012

i know that inq's stop effecting your score after one year.

but do they do anything besides fall off inbetween the one year and falling off?

if i apped with a company like amex and all my inq's were a year and 10 months, the only look at the ones a year or under correct?

i have 4 inq's that completely fall off by feb 13' (2 before new year) so im just curious

Current: EQ FICO 690, TU FICO 692, Walmart TU 737 EX FICO 726 Amex Pull(1/1/13)
Starting total revolving credit: $2600 | Current total revolving credit: $21,600
Inquiries (12 Months): EQ 6 TU 4 EX 5 | Most Recent: 8/30/2012

2013 Goals:
Freedom Signature
Costco:True Earnings

Amex Zync(Unicorn)
Chase Freedom$1500
Citizens Mastercard$5000

Asailorshort · ‎06-04-2012

I'm curious about this too. I know they're not supposed to affect your score after one year, but there must be *some* reason they stay on your report for 2 years.

Starting FICO 667 (5/2012) EQ
672 (7/2012) EQ. 681 (8/1/12) EQ
Current FICO 682 (10/13/12) EQ; 718 (10/13/12) TU
Goal: 760+ but 700-720 by jan 2013
No new apps tll jul 2013

chasmith · ‎05-26-2010

For FICO scoring they are only considered in a one year period, also mortgage and auto inquiries that are close together are counted as a single inquiry so shopping for a major loan isn't penalized.

BK7 Filed 8/11/2009 Discharged 11/23/2009. Purchased new home 4/11/2012 Gardening since 10/6/2012

Starting Score:11/16/2009 EQ 566 11/16/2009 TU 538
Interim Score: 4/2/2011 EQ 682 1/14/2011 TU 665
Current Score: 12/27/2012 EQ 683 09/17/2012 EX (lender) 670 1/01/2013 TU 701
Goal Score: EQ 700 TU 700
Take the FICO Fitness Challenge

bettercreditguy1 · ‎02-11-2012

They stay on there so whomever you are requesting credit from can see your past history/desires more accurately. A person with lots of recent inquiries creates a red flag.

Starting scores 01/ 02/2012 EQ 707 TU 733 EXP 735 (FAKO)
Updated scores 05/01/2013 EQ 761 TU 780 EXP 788 (Exp. equivalency)

Remember the Three P's: Pay early in Full, Pay on Time, Patience

creditnocash · ‎07-23-2012

Yeah but can you get denied for to many inquiries if they are all over a year old?

Current: EQ FICO 690, TU FICO 692, Walmart TU 737 EX FICO 726 Amex Pull(1/1/13)
Starting total revolving credit: $2600 | Current total revolving credit: $21,600
Inquiries (12 Months): EQ 6 TU 4 EX 5 | Most Recent: 8/30/2012

2013 Goals:
Freedom Signature
Costco:True Earnings

Amex Zync(Unicorn)
Chase Freedom$1500
Citizens Mastercard$5000

Epcot · ‎10-10-2012

I would venture to say yes. I have seen some denied for too many inquiries when they only had 1 or 2 within the last 12 months, but several over a year old.

Starting Score: EQ 717 EX 724 TU 736
Current Score: EQ 777 EX 767 TU 771
App free since 4/11/12

creditnocash · ‎07-23-2012

Epcot wrote:
I would venture to say yes. I have seen some denied for too many inquiries when they only had 1 or 2 within the last 12 months, but several over a year old.

alright thanks. im not applying anytime soon but all my inq will be a year old and will have

eq-8

ex-7

tu-5

i know this is alot (because of my bank/amex/car loan-6/3/6 pulls in total the other 5 are all from cc that i got)
Everything will be off in aug '14

all way over a year old. and if my plan goes well ill be apping in jan of' 15 anyway for just amex. to get a 3 year backdate.

and a cli on freedom.

when i started apping (first started with checking account and hit on eq)

i had about 6 inq total over 3 reports. and 3-4 newer then a year.

Current: EQ FICO 690, TU FICO 692, Walmart TU 737 EX FICO 726 Amex Pull(1/1/13)
Starting total revolving credit: $2600 | Current total revolving credit: $21,600
Inquiries (12 Months): EQ 6 TU 4 EX 5 | Most Recent: 8/30/2012

2013 Goals:
Freedom Signature
Costco:True Earnings

Amex Zync(Unicorn)
Chase Freedom$1500
Citizens Mastercard$5000

RobertEG · ‎03-19-2007

Both credit reports and their associated FICO scoring are tools that a creditor can choose to use or not to use, and the extent to which any factor affects their decision is up to them, provided of course their consideration does not violate any other provision of law, such as illegal discrimination.

The fact that FICO chooses to discontinue inclusion of inquiries in their scoring after one year is based on their determination that such inquiries are no longer risk-predictive.

I would suspect that most creditors, seeing inquiries over one year, would reach the same conclusion.