topic Re: How long is recovery from........ in Credit Cards

How long is recovery from........

Anonymous — Thu, 10 Jan 2008 01:13:55 GMT

an app frenzy of inquiries ..just curious-(in your experience) I know they show for 2 years and affect for one year-dont think I am as bad off as I could have possibly been considering I didnt have many tradelines and my UTI was increased to a better ratio and actually got more credit offered to me than in the past

Re: How long is recovery from........

NowIcare — Thu, 10 Jan 2008 01:17:18 GMT

Im guessing that about 6mths ........as this will allow your new cards to age a bit (not be considered new) and your inquiries to age as well so they dont seem so recent.

I too went on an application spree in Oct and havent applied since I cant wait for my new cards to age

Re: How long is recovery from........

haulingthescoreup — Thu, 10 Jan 2008 01:37:42 GMT

I was told here by Reliable Sources that an inq carries the full hurt for exactly one year; no fade. Then, poof, it's gone.

But the more I look at my scores and others, the more it seems that the real score hurt comes less from the inqs and more from the actual new account hitting, re-aging your history. And on that, you do get improvements at 3 months and 6 months (think the simulators.) I've seen this from a zero score change when my second inq hit on EQ, and a 1-point increase when the first one fell off.

And of course, the car loan and mortgage inqs made within a defined time period do clump, so that helps too.

Re: How long is recovery from........

Anonymous — Thu, 10 Jan 2008 02:48:13 GMT

thanks hauling great info to know--so really i got quite a few dropping In Jan and Feb then some stragglers thru all the months until August when the car ones call off (it was a ton of them) so I should see better things happen in the next 6 mos at leaset--and hopefully with things droppin off this latest smack in the face from CAP1 will loosen up

Re: How long is recovery from........

haulingthescoreup — Thu, 10 Jan 2008 02:51:52 GMT

The good thing is that the scoring formula expects those who are building or rebuilding their credit to do a fair amount of app'ing, and I don't think there's all that much of a ding. I've read inq counts by some posters that made my eyelashes fall out, but they seem to keep chugging along with their scores reasonably intact.

Re: How long is recovery from........

Anonymous — Thu, 10 Jan 2008 03:59:48 GMT

haulingthescoreup wrote:
I was told here by Reliable Sources that an inq carries the full hurt for exactly one year; no fade. Then, poof, it's gone.

But the more I look at my scores and others, the more it seems that the real score hurt comes less from the inqs and more from the actual new account hitting, re-aging your history. And on that, you do get improvements at 3 months and 6 months (think the simulators.) I've seen this from a zero score change when my second inq hit on EQ, and a 1-point increase when the first one fell off.

And of course, the car loan and mortgage inqs made within a defined time period do clump, so that helps too.

Yep, it hurt more when the acutal account hit. Just now recovering. But it was worth it.