topic Re: Inquiries leaving after 1 year? in General Credit Topics

Inquiries leaving after 1 year?

revjamesl — Fri, 15 Jul 2016 03:48:04 GMT

I got my updated quarterly myfico report and all my inquiries older than 1-year are no longer showing on my reports. It's my understanding that they don't count against your score after 1 year but that they remain for two years.

Have things changed? Thanks, for any responses.

Re: Inquiries leaving after 1 year?

Anonymous — Fri, 15 Jul 2016 03:52:26 GMT

I wish, two years is a bit excessive in today's world. This aint the 60s.

Re: Inquiries leaving after 1 year?

Anonymous — Fri, 15 Jul 2016 05:39:47 GMT

I've got almost a dozen INQ's that are over 1 year old and all still showing on my CR's. I'm not certain if they're affecting my scores still, but they're all still showing. I'd love to see them gone.

Re: Inquiries leaving after 1 year?

Anonymous — Fri, 15 Jul 2016 05:41:18 GMT

At OP, are you sure your report is showing the last 2 years, some reports only show the last year.

Re: Inquiries leaving after 1 year?

Anonymous — Fri, 15 Jul 2016 05:43:35 GMT

@revjamesl wrote:
I got my updated quarterly myfico report and all my inquiries older than 1-year are no longer showing on my reports. It's my understanding that they don't count against your score after 1 year but that they remain for two years.

Have things changed? Thanks, for any responses.

I pulled my new one today as well and noticed that. I thought something had changed from my last 3B report, but I had some from July 9th of last year that now don't show. I thought it was strange

Re: Inquiries leaving after 1 year?

Anonymous — Fri, 15 Jul 2016 05:46:46 GMT

Yes! Finally found someone! It happened to me also. Down to 12 total inq's across the board with TU reporting only 1! It's been this way now for 2 months. Nothing like CK that took them away from TU for a week and then returned them. Maybe it's the new way? Since they don't count on your fico any longer, why would they still report? We can only hope that's true.

Re: Inquiries leaving after 1 year?

Anonymous — Fri, 15 Jul 2016 05:48:39 GMT

That would be purely awesome

Re: Inquiries leaving after 1 year?

Anonymous — Fri, 15 Jul 2016 05:52:06 GMT

If you're pulling your 3B on Myfico, it only shows the inquires in the direct last 12 months. You still have the ones from the previous 11 months if they haven't aged off. The 3B report has a way of confusing since it only shows the inquiries for the timing that's still affecting your actual scores (which is said to be the direct 12 months before today) Like my February 3B shows all my inquiries from March 2015 to February 2016 which is shows 20 TU inqs but when I pull up CK, it shows I really had 29 at that time

Re: Inquiries leaving after 1 year?

Anonymous — Fri, 15 Jul 2016 06:00:35 GMT

@tamaralig wrote:
If you're pulling your 3B on Myfico, it only shows the inquires in the direct last 12 months. You still have the ones from the previous 11 months if they haven't aged off. The 3B report has a way of confusing since it only shows the inquiries for the timing that's still affecting your actual scores (which is said to be the direct 12 months before today) Like my February 3B shows all my inquiries from March 2015 to February 2016 which is shows 20 TU inqs but when I pull up CK, it shows I really had 29 at that time

You know I checked on this since it didn't make a bit of sense and this is the only thing I found:

Credit Inquiries.
When you apply for a loan, you authorize your lender to ask for a copy of your credit report. This is how inquiries appear on your credit report. The inquiries section contains a list of everyone who accessed your credit report within the last two years. The report you see lists both "voluntary" inquiries, spurred by your own requests for credit, and "involuntary" inquires, such as when lenders order your report so as to make you a pre-approved credit offer in the mail.

So CK would be the one we need to rely upon for our inq's?

Thanks for the info. Very helpful.

Re: Inquiries leaving after 1 year?

Anonymous — Fri, 15 Jul 2016 06:08:09 GMT

I do have all but 1 leaving in a couple of months on my TU report. I would say they're not off too much. Gotta check EX & EQ.

Re: Inquiries leaving after 1 year?

Anonymous — Fri, 15 Jul 2016 06:23:27 GMT

I knew my other inqs were there due to CK, but I really feel like this should be clear on the 3B. No sense in getting us needlessly excited!

Re: Inquiries leaving after 1 year?

Kelsey_H — Mon, 25 Jul 2016 17:25:51 GMT

@revjamesl wrote:
I got my updated quarterly myfico report and all my inquiries older than 1-year are no longer showing on my reports. It's my understanding that they don't count against your score after 1 year but that they remain for two years.

Have things changed? Thanks, for any responses.

Hey there! Here's the deal:

Inquiries stay on a credit report for 2 years
At myFICO, we only show inquiries posted in the last 12 months as FICO® Scores only consider inquiries posted in the last 12 months.
So, you may still see those older inquiries on credit bureau reports pulled from other sources

Hope that helps!

Re: Inquiries leaving after 1 year?

takeshi74 — Tue, 26 Jul 2016 12:39:57 GMT

@Anonymous wrote:
I wish, two years is a bit excessive in today's world. This aint the 60s.

Has nothing to do with being the 60's versus being the 10's. New credit and credit seeking activity is a risk factor that the creditors consider. If you have "too many inquiries" in a 2 year timeframe then your real problem is your credit profile unless you went spree crazy. Despite the obsession over them, inquiries are a small factor. Where they can have a bigger impact is for those with thin credit profiles and/or profiles with issues.

@Anonymous wrote:
I knew my other inqs were there due to CK, but I really feel like this should be clear on the 3B. No sense in getting us needlessly excited!

You shoul always understand your tools. These forums can be useful resource for understanding myFICO as well as credit in general. Don't rely on "feel" or assumption.

Re: Inquiries leaving after 1 year?

Anonymous — Tue, 26 Jul 2016 15:59:25 GMT

takeshi74 wrote

@Anonymous wrote:
I knew my other inqs were there due to CK, but I really feel like this should be clear on the 3B. No sense in getting us needlessly excited!
You shoul always understand your tools. These forums can be useful resource for understanding myFICO as well as credit in general. Don't rely on "feel" or assumption.

I think you are misunderstanding me. I'm not relying on feel or assumption. I'm well aware of my inquiries. My feeling is an opinion that it should be stated on MyFICO's reports that we are only viewing the last 12 months. Not everyone that has the product is an active member of the community. Both my father and sister use the service to monitor, but have never set foot on these forums. As a result, my sister thought she had significantly less INQs than she did.