topic Re: Hard inquiries in General Credit Topics

Hard inquiries

Anonymous — Sun, 06 Jan 2019 07:00:50 GMT

Hello fellow gardeners and admins Happy 2019 I have a question what happens after a year of a hard inquiry does the score go up? Please help me with these curiosity

Re: Hard inquiries

Anonymous — Sun, 06 Jan 2019 08:13:47 GMT

According to the FICO model, inquiries older than 12 months no longer negativity impact your FICO score, meaning you should in theory see your score go up when nothing else changes. In practice the inquiries nearing 12 months of age likely already have little impact, so when they pass the 12 month mark you might not notice any significant change in your score, especially when other variables (age of history, AAoA, utilization, etc.) come into play.

Re: Hard inquiries

DIYcredit — Sun, 06 Jan 2019 08:44:06 GMT

Correct..Also the less hard inquiries the better it is for your Fico score especially regarding cc's.

Re: Hard inquiries

Anonymous — Sun, 06 Jan 2019 19:07:30 GMT

In my year long well controlled scoring experiment, I did not see ANY point gains until each HP hit exactly 1 year to the day. Of the 5 HPs on Experian, I gained 3-7-7-3-1 points when each hit one year. That said, score is only a part of your profile, even though HPs become unscorable after one year, they are still visible to lenders for two years, they can still count against you in credit decisions.

Re: Hard inquiries

Revelate — Sun, 06 Jan 2019 22:44:54 GMT

Yeah, exact same result when I was going through my mortgage process. All counted full monty to the day.

It's just aggregate number of inquiries with some breakpoints for them, no aging factor at all unlike some negatives.