topic Re: When exactly do INQs fall off? in General Credit Topics

When exactly do INQs fall off?

Anonymous — Tue, 31 Jan 2012 00:45:41 GMT

Hello everyone, I have a quick question that's been on my mind.

Correct me if I am wrong, but I know that INQs quit effecting the credit score after 1 year and fall of the entire report after 2 years.

My question is, if I have INQs that are, for example, March 13th, March 20th and the 31st of 2011, would they quit effecting my score after the actual date or will they just quit effect my score the begining of the month?

Also, if I we're to apply for credit in mid-Feburary, do you guys think lenders will really care about those INQs since it's almost 1 year?

Thanks again!

Re: When exactly do INQs fall off?

visorboy1974 — Tue, 31 Jan 2012 00:47:03 GMT

On or after tha actual date. I think lenders care less about inquiries after 6 months or so.

Re: When exactly do INQs fall off?

namvet — Tue, 31 Jan 2012 01:12:16 GMT

Inquiries will fall off your reports after 2 years. After 1 year they do not cause any changes to your scores even though they are still on the reports.

Re: When exactly do INQs fall off?

pizzadude — Tue, 31 Jan 2012 01:44:21 GMT

I think that the scoring ding for the inquries usually occcurs at the end of the month, so by the end of March they would be gone.

Lenders have their own definition of "too many inquiries" so it's impossible to predict how they will be viewed. But FICO will still count them until the year has passed.

Re: When exactly do INQs fall off?

RobertEG — Tue, 31 Jan 2012 02:45:47 GMT

Neither the inclusion in or exclusion of inquiries from your CR or from scoring are regulated under the FCRA.

Thus, exact dates are solely at the discretion of the CRAs regarding credit reports and Fair Isaac regarding scoring.

I have never seen a specific statement of exact dates used in their determinations. I would doubt that their algorithms are specific as to the day, and most probably just have a fixed day each month.

Re: When exactly do INQs fall off?

haulingthescoreup — Tue, 31 Jan 2012 02:53:38 GMT

@pizzadude wrote:

I think that the scoring ding for the inquries usually occcurs at the end of the month, so by the end of March they would be gone.

Lenders have their own definition of "too many inquiries" so it's impossible to predict how they will be viewed. But FICO will still count them until the year has passed.

I'm not sure what you're saying here, but the scoring ding for inquiries, if there will be one, occurs at the very moment that a report is pulled for a FICO score. If an inq is on there, it will be considered for scoring. If it's not there, it won't be. Doesn't matter when in the month it might be.

Re: When exactly do INQs fall off?

pizzadude — Tue, 31 Jan 2012 03:22:29 GMT

No, what I was trying to say is for the OP's example of three inquiries in March 2011 ~ all occurring on different days, that FICO would probably remove the scoring hit for them at the end of March 2012.

Re: When exactly do INQs fall off?

haulingthescoreup — Tue, 31 Jan 2012 03:23:03 GMT

@pizzadude wrote:
No, what I was trying to say is for the OP's example of three inquiries in March 2011 ~ all occurring on different days, that FICO would probably remove the scoring hit for them at the end of March 2012.

Oh OK, gotcha.