topic Re: When do inquiries from July 16.... in Understanding FICO® Scoring

When do inquiries from July 16....

kaskuli — Tue, 01 Jul 2014 01:18:03 GMT

...stop contributing to "TOO MANY INQUIRIES IN THE LAST 12 MONTHS" ?

Exactly one year after the inquiry, i.e. July 16 2014

After the July statement cuts for that account

End of July, August 1

TIA

Re: When do inquiries from July 16....

kaskuli — Tue, 01 Jul 2014 16:29:38 GMT

BUMP

Re: When do inquiries from July 16....

ambivalent — Tue, 01 Jul 2014 22:12:37 GMT

@kaskuli wrote:
...stop contributing to "TOO MANY INQUIRIES IN THE LAST 12 MONTHS" ?

Exactly one year after the inquiry, i.e. July 16 2014

OR

After the July statement cuts for that account

OR

End of July, August 1

TIA

I'm going to go with one year from the inquiry. I had an inquiry from NFCU on June 28, 2013. My report I pulled from USAA CMS yesterday does not show it anymore.

Re: When do inquiries from July 16....

DaveSignal — Tue, 01 Jul 2014 22:28:31 GMT

The 1 year is from the date of the inquiry. The 2 year fall-off from credit reports varies depending on the CRA. Sometimes they fall-off at the beginning of the month 2 years later (equifax often does this), and sometimes you have to wait a full month later (usually Experian does this). But, as for FICO, its one year exactly.

ETA: there is a FICO penalty for inquiries that may read "too many inquiries within the last 12 months" if you have more than 0 inquiries.

Re: When do inquiries from July 16....

kaskuli — Tue, 01 Jul 2014 23:55:06 GMT

Thanks for your replies!

Re: When do inquiries from July 16....

mongstradamus — Wed, 02 Jul 2014 00:17:07 GMT

@DaveSignal wrote:
The 1 year is from the date of the inquiry. The 2 year fall-off from credit reports varies depending on the CRA. Sometimes they fall-off at the beginning of the month 2 years later (equifax often does this), and sometimes you have to wait a full month later (usually Experian does this). But, as for FICO, its one year exactly.

ETA: there is a FICO penalty for inquiries that may read "too many inquiries within the last 12 months" if you have more than 0 inquiries.

Is the one year date from inquiry verified? I am just curious since I had three inquiries that were supposed to hit 1 year in June,but I have yet to see any score changes and it still shows all my HP inquiries.

Re: When do inquiries from July 16....

Blodreina — Wed, 02 Jul 2014 00:18:52 GMT

@mongstradamus wrote:
@DaveSignal wrote:
The 1 year is from the date of the inquiry. The 2 year fall-off from credit reports varies depending on the CRA. Sometimes they fall-off at the beginning of the month 2 years later (equifax often does this), and sometimes you have to wait a full month later (usually Experian does this). But, as for FICO, its one year exactly.

ETA: there is a FICO penalty for inquiries that may read "too many inquiries within the last 12 months" if you have more than 0 inquiries.
Is the one year date from inquiry verified? I am just curious since I had three inquiries that were supposed to hit 1 year in June,but I have yet to see any score changes and it still shows all my HP inquiries.

I've heard that repeatedly, from several sources. Perhaps you did not have enough inquiries to ding your scores?

Re: When do inquiries from July 16....

gdale6 — Wed, 02 Jul 2014 00:38:47 GMT

@mongstradamus wrote:
@DaveSignal wrote:
The 1 year is from the date of the inquiry. The 2 year fall-off from credit reports varies depending on the CRA. Sometimes they fall-off at the beginning of the month 2 years later (equifax often does this), and sometimes you have to wait a full month later (usually Experian does this). But, as for FICO, its one year exactly.

ETA: there is a FICO penalty for inquiries that may read "too many inquiries within the last 12 months" if you have more than 0 inquiries.
Is the one year date from inquiry verified? I am just curious since I had three inquiries that were supposed to hit 1 year in June,but I have yet to see any score changes and it still shows all my HP inquiries.

Yes its verified. At the 1 year mark you may not see any change in score as it has already been reclaimed over the 1 years time, sometimes the effect of the inquiry is gone at 6 months it just depends on your CR and what bucket you are in.

Re: When do inquiries from July 16....

mongstradamus — Wed, 02 Jul 2014 00:54:39 GMT

@gdale6 wrote:
@mongstradamus wrote:
@DaveSignal wrote:
The 1 year is from the date of the inquiry. The 2 year fall-off from credit reports varies depending on the CRA. Sometimes they fall-off at the beginning of the month 2 years later (equifax often does this), and sometimes you have to wait a full month later (usually Experian does this). But, as for FICO, its one year exactly.

ETA: there is a FICO penalty for inquiries that may read "too many inquiries within the last 12 months" if you have more than 0 inquiries.
Is the one year date from inquiry verified? I am just curious since I had three inquiries that were supposed to hit 1 year in June,but I have yet to see any score changes and it still shows all my HP inquiries.
Yes its verified. At the 1 year mark you may not see any change in score as it has already been reclaimed over the 1 years time, sometimes the effect of the inquiry is gone at 6 months it just depends on your CR and what bucket you are in.

Maybe I am in one of those dreaded buckets. I guess that CSP app in may hurt an lot more than I thought . one app brought me down 20+ points, which am not thrilled about. I thought the 3 inq hitting one year anniversary would help my score a bit. Right now I have 12 accounts reporting with perfect credit history. Just gotta give it more time I suppose

Re: When do inquiries from July 16....

DaveSignal — Wed, 02 Jul 2014 01:41:33 GMT

@mongstradamus wrote:
@DaveSignal wrote:
The 1 year is from the date of the inquiry. The 2 year fall-off from credit reports varies depending on the CRA. Sometimes they fall-off at the beginning of the month 2 years later (equifax often does this), and sometimes you have to wait a full month later (usually Experian does this). But, as for FICO, its one year exactly.

ETA: there is a FICO penalty for inquiries that may read "too many inquiries within the last 12 months" if you have more than 0 inquiries.
Is the one year date from inquiry verified? I am just curious since I had three inquiries that were supposed to hit 1 year in June,but I have yet to see any score changes and it still shows all my HP inquiries.

I have verified it myself, as I have been platinum spade in the garden before. In my case, I saw some points when I started to get closer to 0 and each of my inquiries hit 1 year exactly. I think there are thresholds with this, and if you have an excessive amount of inquiries, then you are probably at a point where knocking off 1 or 2 isn't going to do anything. But you should see definitly see something point-wise dropping to 1 and then again when dropping to 0.

Re: When do inquiries from July 16....

bdhu2001 — Wed, 02 Jul 2014 02:17:31 GMT

@Simba501 wrote:
@mongstradamus wrote:
@DaveSignal wrote:
The 1 year is from the date of the inquiry. The 2 year fall-off from credit reports varies depending on the CRA. Sometimes they fall-off at the beginning of the month 2 years later (equifax often does this), and sometimes you have to wait a full month later (usually Experian does this). But, as for FICO, its one year exactly.

ETA: there is a FICO penalty for inquiries that may read "too many inquiries within the last 12 months" if you have more than 0 inquiries.
Is the one year date from inquiry verified? I am just curious since I had three inquiries that were supposed to hit 1 year in June,but I have yet to see any score changes and it still shows all my HP inquiries.
I've heard that repeatedly, from several sources. Perhaps you did not have enough inquiries to ding your scores?

Remember the inquiry stays for 2 years, but the affect on your score happens in 1 year.

Re: When do inquiries from July 16....

mongstradamus — Wed, 02 Jul 2014 02:29:33 GMT

@bdhu2001 wrote:
@Simba501 wrote:
@mongstradamus wrote:
@DaveSignal wrote:
The 1 year is from the date of the inquiry. The 2 year fall-off from credit reports varies depending on the CRA. Sometimes they fall-off at the beginning of the month 2 years later (equifax often does this), and sometimes you have to wait a full month later (usually Experian does this). But, as for FICO, its one year exactly.

ETA: there is a FICO penalty for inquiries that may read "too many inquiries within the last 12 months" if you have more than 0 inquiries.
Is the one year date from inquiry verified? I am just curious since I had three inquiries that were supposed to hit 1 year in June,but I have yet to see any score changes and it still shows all my HP inquiries.
I've heard that repeatedly, from several sources. Perhaps you did not have enough inquiries to ding your scores?
Remember the inquiry stays for 2 years, but the affect on your score happens in 1 year.

Yeah I realize it stays two years on cr,but thought would see a bump on my fico score since it should no longer be affecting fico scores.

Re: When do inquiries from July 16....

kaskuli — Wed, 02 Jul 2014 02:53:38 GMT

Sounds good. I have 4 TU inqs, and three are dropping off this month.

Re: When do inquiries from July 16....

vanillabean — Wed, 02 Jul 2014 03:24:09 GMT

@gdale6 wrote:

At the 1 year mark you may not see any change in score as it has already been reclaimed over the 1 years time, sometimes the effect of the inquiry is gone at 6 months it just depends on your CR and what bucket you are in.

It would appear that Barry disagrees.