topic Re: Inquiry aging off -- no score change! in Understanding FICO® Scoring

Inquiry aging off -- no score change!

Anonymous — Mon, 16 Nov 2015 08:21:17 GMT

Some interesting data it looks like -- I have an inquiry aging off today, meaning, it's 12 months old today and so should no longer have any impact on my score. In the past I have seen my score bump up when an inquiry ages off, at midnight PDT on the Experian CreditTracker product. This one seems to NOT have any score impact -- it was 745 yesterday, it's still 745 now. Possible that it'll have an impact later, but in the past I've seen it right after midnight, when I log in and generate a new report.

Nothing else on my report changed since yesterday, no changes to balances, etc., so it's not being counteracted by something. I did app a few things recently but none of those inquiries hit EX and none of them are reporting yet. Including this one I have FOUR inquiries right now reporting on EX: 11/16/2014 (this one), 11/21/2014, 1/18/2015 and 4/3/2015. So they are all between 6 and 12 months, and this one is rolling off today.

So, this is dropping me from 4 inquiries under 12 months to 3 inquiries under 12 months. It seems likely that's some bucket--that there is no score difference whether you have 3 inquiries for 4?

It'll be interesting to see hwat happens on 11/21 when the next one ages off. That one is not technically a credit application--it's the hit I took when I rented an apartment and the property manager pulled my credit. Not sure if those count the same as a credit application, but it's there as a HP on my report.

Re: Inquiry aging off -- no score change!

Revelate — Mon, 16 Nov 2015 18:44:07 GMT

@Anonymous wrote:

Some interesting data it looks like -- I have an inquiry aging off today, meaning, it's 12 months old today and so should no longer have any impact on my score. In the past I have seen my score bump up when an inquiry ages off, at midnight PDT on the Experian CreditTracker product. This one seems to NOT have any score impact -- it was 745 yesterday, it's still 745 now. Possible that it'll have an impact later, but in the past I've seen it right after midnight, when I log in and generate a new report.

Nothing else on my report changed since yesterday, no changes to balances, etc., so it's not being counteracted by something. I did app a few things recently but none of those inquiries hit EX and none of them are reporting yet. Including this one I have FOUR inquiries right now reporting on EX: 11/16/2014 (this one), 11/21/2014, 1/18/2015 and 4/3/2015. So they are all between 6 and 12 months, and this one is rolling off today.

So, this is dropping me from 4 inquiries under 12 months to 3 inquiries under 12 months. It seems likely that's some bucket--that there is no score difference whether you have 3 inquiries for 4?

It'll be interesting to see hwat happens on 11/21 when the next one ages off. That one is not technically a credit application--it's the hit I took when I rented an apartment and the property manager pulled my credit. Not sure if those count the same as a credit application, but it's there as a HP on my report.

Inquiries aren't bucketable to our knowledge.

Inquiries have always been counted based on a step-function; the numbers used below aren't completely accurate but just for illustrative purposes as I don't think anyone's really tracked it hardcore though making it semi-close to what I and others have seen on FICO 8.

0->1 no change

1->2 drop

2->3 no change

3->4 no change

4->5 drop

At some point past like 8-10 inquiries they don't additionally count against you at all. Anecdotally the inquiry damage calculation is simply to sum up all scoreable inquiries within the last year (no age factor) figure out where that falls from a score perspective.

Re: Inquiry aging off -- no score change!

Anonymous — Tue, 17 Nov 2015 20:40:24 GMT

Well, I think I can confirm these:

5->4 score increase

4->3 no score increase

I may get data on 3->2 or may not depending on when my recent apps report (and therefore might confuse things).

Re: Inquiry aging off -- no score change!

Anonymous — Tue, 17 Nov 2015 10:44:59 GMT

@Anonymous wrote:

Well, I think I can confirm these:

5->4 drop
4->3 no drop

I may get data on 3->2 or may not depending on when my recent apps report (and therefore might confuse things).

Were you implying:

5 -> 4 increase
4 -> 3 no increase

Re: Inquiry aging off -- no score change!

Anonymous — Tue, 17 Nov 2015 20:40:55 GMT

Yes that is what I saw. Fixed the confusing wording in my post.

Re: Inquiry aging off -- no score change!

dt3813 — Tue, 17 Nov 2015 22:41:30 GMT

so like 29 to 28 no change? hahaha!

Re: Inquiry aging off -- no score change!

Thomas_Thumb — Wed, 18 Nov 2015 01:13:07 GMT

No - But keep up the restraint and some day you too may get down to that level.

Re: Inquiry aging off -- no score change!

dt3813 — Wed, 18 Nov 2015 01:16:08 GMT

😬

Re: Inquiry aging off -- no score change!

Anonymous — Sun, 22 Nov 2015 08:56:16 GMT

@Anonymous wrote:

Well, I think I can confirm these:

5->4 score increase
4->3 no score increase

I may get data on 3->2 or may not depending on when my recent apps report (and therefore might confuse things).

And now I can confirm this:

3->2 no score increase

About a week ago my EX score went 745->741 on the day my Amazon store card posted a $500 balance, which took it to 20% utilization. So the 4 point drop that day was explained by that utilization increase, and nothing else happened that day.

Yesterday the inquiry my landlord did to check my credit aged to 1 year, and my score yesterday and today held constant at 741. So no score impact of the 3rd inquiry hitting the 1 year mark. I still have 2 left, one that will hit 1 year in two months, and one that won't hit until another 5 months.

I have two new accounts that will report soon and have some score impact (BECU PLOC, Discover card) but the inquiries for those didn't hit EX, so we will be able to watch what happens as more stuff ages off. I should see the new account penalty hit on a different day than the inquiry ages off.

My plan is to garden for the next 12+ months so I will be able to update what happens as these things age off.

Interesting that I do recall getting hit for points when they came onto my account, but I do not see the corresponding increase as they roll off. I don't have an immediate explanation for that. I did not see any score increase as these things hit specific ages (6, 9, or 12 months) but maybe it's somehow factored into other increases I did see? The other increases were mostly tied to my OLDEST card aging, so far as I can tell.

Odd.

Re: Inquiry aging off -- no score change!

Anonymous — Wed, 02 Dec 2015 18:29:42 GMT

And after confirming 3>2 no score change, I can confirm the reverse 2>3 no score change. After the old inquiry dropped off I apped a few things. One of those inquiries hit EX and there was neither a score change when the inquiry appeared NOR when the new account appeared.

I think this also proved new account penalty is almost entirely AAoA. Mine is under a year and adding a 9th account dropped it by only a month.

More data coming in new account penalty as there are two more to show up still.

Re: Inquiry aging off -- no score change!

Anonymous — Sat, 05 Dec 2015 03:30:09 GMT

Another new account reported: no score change.

No doubt because going from 8 to 9 accounts with an AAoA of 9-10 months didn't knock enough off AAoA to make a difference.

That does imply that there is no new account penalty other than AAoA and the hit for the inquiry itself.