topic Inquiries in Understanding FICO® Scoring

Inquiries

Anonymous — Fri, 27 Jul 2012 21:46:23 GMT

Hi all, trying to understand which is more accurate;

I've always heard hard inquiries stay on your credit and hurt it for 2 years.

Myfico only shows the last year, and most state that's because it doesn't factor into your fico score.

So my question is, I am going thru preapproval for a mortgage and they pulled my credit reports and show the last 2 years of inquiries, perhaps it doesn't effect my fico score but perhaps it matters during a manual review? Insight?

Re: Inquiries

pizzadude — Fri, 27 Jul 2012 22:24:54 GMT

Inquiries only effect your FICO® score for one year, however they'll show on credit reports for two years.

Re: Inquiries

DaveSignal — Fri, 27 Jul 2012 22:39:52 GMT

+1. Someone doing a manual check of your credit report will see the last 2 years. Whether or not they take all of that into consideration is at the discretion of your lender.