topic Re: Inquiries in Understanding FICO® Scoring

Inquiries

zoe15 — Thu, 05 Jan 2012 17:19:18 GMT

Hey, guys,

I know inquiries affect your scores for 12 months, but does this mean an inquiry from 1/15/11 would stop affecting your score as of 1/16/12? I realize credit scores reflect a "snapshot" of your CR in regard to utilization, but I wasn't sure how this worked when it came to inquiries.

Thanks so much for your help!

Re: Inquiries

pizzadude — Thu, 05 Jan 2012 17:31:44 GMT

I think it varies by CRA as to when the Inquiry scoring ding drops off. It might be the end of January.

Re: Inquiries

zoe15 — Thu, 05 Jan 2012 18:35:57 GMT

Okay, thanks--good to know. I'll hold off on my app until Feb.

@pizzadude wrote:

I think it varies by CRA as to when the Inquiry scoring ding drops off. It might be the end of January.

Re: Inquiries

RobertEG — Thu, 05 Jan 2012 21:04:10 GMT

It is all up to the mystery of the FICO scoring algorithm. The CRAs have nothing to do with your actual scoring, other than the date of addition of the item to your credit file.

The one-year period for FICO scoring is their internal policy, and is unregulated, so it is really up to them. Most items dont "drop" on a specific date. They usually cease to be scored in the next month following whatever scoring inclusion date is at issue. If the inquiry posted in January, 2011, I would suspect that you will see its removal from scoring beginning in Feb, 2012 rather than on one date specific.

Re: Inquiries

LS2982 — Sat, 07 Jan 2012 17:29:48 GMT

@zoe15 wrote:
Hey, guys,

I know inquiries affect your scores for 12 months, but does this mean an inquiry from 1/15/11 would stop affecting your score as of 1/16/12? I realize credit scores reflect a "snapshot" of your CR in regard to utilization, but I wasn't sure how this worked when it came to inquiries.

Thanks so much for your help!

Your INQ stays on your report for 2 years. FICO stops figuring the INQ into its score after 1 year. When you app, your creditor is going to see all of your INQ's within that last 2 years regardless.

Re: Inquiries

Anonymous — Sat, 07 Jan 2012 18:02:57 GMT

@LS2982 wrote:
@zoe15 wrote:
Hey, guys,

I know inquiries affect your scores for 12 months, but does this mean an inquiry from 1/15/11 would stop affecting your score as of 1/16/12? I realize credit scores reflect a "snapshot" of your CR in regard to utilization, but I wasn't sure how this worked when it came to inquiries.

Thanks so much for your help!
Your INQ stays on your report for 2 years. FICO stops figuring the INQ into its score after 1 year. When you app, your creditor is going to see all of your INQ's within that last 2 years regardless.