topic Re: Help me understand inquiries in General Credit Topics

Help me understand inquiries

itzateach — Sun, 16 Nov 2008 15:51:01 GMT

If I read this correctly....tell me if I am right...inquiries stay on reports for TWO years, but only count for the last one. Below are my inquiries. If I stop apping until July, will I be in good shape?

   Date: November 5, 2008 • AMERICA FIRST CREDIT UN
   Date: October 17, 2008 • CREDIT PLUS
   Date: September 8, 2008 • HSBC NV
   Date: August 31, 2008 • AMEX
   Date: August 17, 2008 • LANDSAFE
   Date: July 25, 2008 • CAP ONE
   Date: July 24, 2008 • AMERICA FIRST CREDIT UN
   Date: July 17, 2008 • U S BANK CONSOLIDATED
   Date: July 17, 2008 • LANDSAFE
   Date: June 27, 2008 • PATELCO CREDIT UNION
   Date: June 13, 2008 • CREDIT PLUS
   Date: April 21, 2008 • AMERICA FIRST CREDIT UN
   Date: April 12, 2008 • CREDIT PLUS
   Date: March 3, 2008 • UTAH FEDERAL CR UNION
   Date: February 21, 2008 • LANDSAFE
   Date: January 21, 2008 • BANK OF AMERICA
   Date: January 9, 2008 • AMERICA FIRST CREDIT UN
   Date: January 5, 2008 • EQUIFAX MORTGAGE SERVICE
   Date: January 4, 2008 • CREDIT PLUS
   Date: November 29, 2007

Re: Help me understand inquiries

Anonymous — Sun, 16 Nov 2008 18:09:38 GMT

are they soft or hard? where did you pull them from?

Re: Help me understand inquiries

itzateach — Sun, 16 Nov 2008 23:05:23 GMT

These are hard pulls from experian. Here are the same inquiries from off of MYFICO. The original copy came from an experian report pulled through experian.

November 05, 2008 America First Credit U

October 17, 2008 America First Credit U

September 08, 2008 Credit Plus

August 31, 2008 Hsbc Nv

August 17, 2008 Amex

July 25, 2008 Landsafe

July 24, 2008 Cap One

July 17, 2008 America First Credit

July 17, 2008 U S Bank Consolidated

June 27, 2008 Landsafe J

June 13, 2008 Patelco Credit Union

April 21, 2008 Credit Plus

April 12, 2008 America First Credit U

March 03, 2008 Credit Plus

February 21, 2008 Utah Federal Cr Union

January 21, 2008 Landsafe

January 09, 2008 Bank Of America

January 05, 2008 America First Credit U

January 04, 2008 Equifax Mortgage Servi

Re: Help me understand inquiries

Anonymous — Mon, 17 Nov 2008 05:13:51 GMT

weird - sorry for asking, but why would you get 5 hard pulls in one year from America First Credit U? Why 3 from Landsafe?

Anyway, they will stop being counted after one year for FICO scoring, so jan 04 2009 will lose Equifax, jan 05 2009 will lose America First, and so on. In july 09 you will still have 9 inquiries being counted - a few more than optimal (in my experience 1 inquiry every two months is OK).

it also depends on what you need the score for - at a manual review, all these inquiries might require some explaining to do, even if the score started recovering.

Re: Help me understand inquiries

Anonymous — Mon, 17 Nov 2008 06:36:15 GMT

# of

Pulls

1-2 = 8 points

3-4 = 8 points

4+ = 8 points

Your score won't improve until you get to 4 inquiries.

Re: Help me understand inquiries

llecs — Mon, 17 Nov 2008 11:28:51 GMT

leggo wrote:
# of
Pulls

1-2 = 8 points
3-4 = 8 points
4+ = 8 points
Your score won't improve until you get to 4 inquiries.

Not necessarily. On TU, I had a 0 change going from 0 to 1 and from 1 to 2 inquiries. Of 10 of my inquiries on EX, I also had 0 change. This was measured by pulling the related FICO score the day before and the day after. Now my TC FAKO has dropped from 6-10 points per inquiry but that score doesn't matter anyway.