topic Re: No change after IQ a year old in Understanding FICO® Scoring

No change after IQ a year old

Anonymous — Mon, 06 Aug 2007 00:54:40 GMT

I had 2 IQs become over a year old ( Aug 3rd and 4th 2006 ) on TU. I pulled my TU score and the score did not change at all from before the IQs expired to today. Any idea why?

Re: No change after IQ a year old

CreditBob — Mon, 06 Aug 2007 01:09:44 GMT

2 inquiries by themselves will most likely have no impact on your score. What other types of accounts do you have and how long have they been open for? I do know that a new account after 12 months will increase the score. Refer to the fico score pie chart. Just click on learn at the top of the main page on myfico.com

Re: No change after IQ a year old

Anonymous — Mon, 06 Aug 2007 01:34:06 GMT

I can't see how it would have NO effect at all? IQs take points when they are added. Why would they not add points when expired? They count for up to 10 percent of the score, and 2 out of 7 IQs from the last 12 months just expired. I do have 2 accounts that will be reaching the 12 month point in 2 months so that is good. I have lots of closed account, some dating back around 12 years. My oldest open account is around 4 years, and I have 6 open CC account, one installment loan, and a mortgage . I have a BK that is just over 5 years.

Re: No change after IQ a year old

CreditBob — Mon, 06 Aug 2007 02:07:27 GMT

New credit 10% refers to when an account has been opened. Is your bankruptcy a chapter 7 or 13?

Re: No change after IQ a year old

CreditBob — Mon, 06 Aug 2007 02:09:34 GMT

On each credit card account keep a samll balance of $ 5-10 because you will score more fico points. From personal experience my score went up about 12-15 points.

Re: No change after IQ a year old

Anonymous — Mon, 06 Aug 2007 02:17:48 GMT

It was chapter 7. My score has gone up a lot in 4 months from reducing util. I'm 3 points away from a needed 680 and I thought the 2 expired IQs would do it....

Re: No change after IQ a year old

Anonymous — Mon, 06 Aug 2007 13:15:03 GMT

Give it a few days. I recently had a few inquiries fall off my report and I saw a 15 point bump with TU.

BTW - are they still showing on your report. Because I have a few on EX that were supposed to fall off already, but they are still there. EX has been a month behind deleting inquiries.

Re: No change after IQ a year old

Anonymous — Mon, 06 Aug 2007 13:54:52 GMT

They stay on the report for 2 years, so they are still there. I'm just factoing in the IQs that are in the last year, since they are the only ones that factor into the score.