topic Re: Inquiries, aging and most recent score impact in Understanding FICO® Scoring

Inquiries, aging and most recent score impact

Anonymous — Mon, 03 Aug 2020 17:43:48 GMT

Ok. So this might be something for the master inquiry thread, but I didn't see anything specific to this. My most recent inquiry was July 15 and cost me 4 points on EX f8. On the flip side, an inquiry from 2019 should have stopped being scoreable on August 1. On August 1 I saw a 1 pt increase for EX F8, but nothing anywhere else--a few questions:

1. Shouldn't I see a return of points in the same amount of the most recent inquiry (e.g., lose 4 from July 15, therefore gain 4 with this going unscorable)?

2. Given that August 1 is a Saturday, could there a delay in getting those points back from a logistical standpoint?

Just a little confused that nothing budged on this one. Definitely expected some sort of recovery here going 6-->5 (or maybe 4-->3 if they bucketed my October inquiries for car shopping) on EX.

Re: Inquiries, aging and most recent score impact

Trudy — Mon, 03 Aug 2020 18:26:59 GMT

I've seen posts regarding INQ's reaching 2 years and when the 1st falls on a Saturday it was not actually be removed from the report until the following Saturday for EX. May apply to the 1 year mark as well?

Could the 1pt be related to aging of an account instead of aging of the INQ?

Re: Inquiries, aging and most recent score impact

Anonymous — Mon, 03 Aug 2020 18:51:14 GMT

@Trudy wrote:
I've seen posts regarding INQ's reaching 2 years and when the 1st falls on a Saturday it was not actually be removed from the report until the following Saturday for EX. May apply to the 1 year mark as well?

Could the 1pt be related to aging of an account instead of aging of the INQ?

I do think that there should have been some sort of aging points as well from a 30 month threshold. That could be it.

Interesting about the following Saturday part. I'll have to see if that is the case.

Re: Inquiries, aging and most recent score impact

Anonymous — Mon, 03 Aug 2020 19:31:31 GMT

Not only are inquiries counted, but they’re grouped by type. So, if you add an auto inquiry for 6 points, then a credit card inquiry becomes unscoreable, they’re not in the same bin, if binned. So don’t expect 6 points in that situation.

Plus, point value/bin may have changed if on a different scorecard now than when inquiry was taken.

Re: Inquiries, aging and most recent score impact

Anonymous — Mon, 03 Aug 2020 19:36:28 GMT

Oh and there’s no delay in the scoring aspect, that’s part of the algorithm. There could be a delay in an alert or on your CMS.

The removal at 24 or 25 months is the deletion of data, which is done by the CRA and not a function of the algorithm. (Data storage and retention is a function of the CRA.)

However on EX2 there appears to be a one day delay due to leap year wonkiness.

Re: Inquiries, aging and most recent score impact

Trudy — Mon, 03 Aug 2020 19:39:03 GMT

Interestingly, there was a post today about the scenario I provided. See post #2 from @gdale6

https://ficoforums.myfico.com/t5/General-Credit-Topics/Hard-Pull-Removals/td-p/6098366

Regarding 2.5 years being a factor, see @Anonymous thread, post 4 as it provides information regarding age of accounts.

https://ficoforums.myfico.com/t5/Understanding-FICO-Scoring/General-Scoring-Primer-and-Version-8-Master-Thread-rev-5-17-20/m-p/6023348/highlight/true

Re: Inquiries, aging and most recent score impact

Anonymous — Mon, 03 Aug 2020 20:26:44 GMT

@Anonymous wrote:
Not only are inquiries counted, but they’re grouped by type. So, if you add an auto inquiry for 6 points, then a credit card inquiry becomes unscoreable, they’re not in the same bin, if binned. So don’t expect 6 points in that situation.

Plus, point value/bin may have changed if on a different scorecard now than when inquiry was taken.

Fair. I guess I am just confused as to point drops for inquiries being high, but no recovery (there's not really a "binning" situation here for mortgage inquiries). One point seems really low for an inquiry no longer becoming scoreable when any inquiry I have had recently (by which I mean past year) has been a minimum of 4 pts.

Re: Inquiries, aging and most recent score impact

Anonymous — Mon, 03 Aug 2020 21:34:10 GMT

Again the type matters. A different type may have a different point loss and in the context of mortgages, for them to be binned they would have to be outside 45 days for EQ5 and TU4 or outside of 14 days for EX2. Then I guess it’s possible they could be binned, I don’t know, I’ve never studied that.