1 Year old HP Inquiry -

[Anonymous]

I wonder if anyone has any history with how much a 1 year old inquiry which no longer counts, effects your score. I know it is not much, but if you have multiple ones, has anyone ever tracked how much is gained backed once they aged? 

Thanks. 

[CH-7-Mission-Accomplished]

After one year, inquiries have no scoring effect.  They appear on your report for a second year but are not counted in scoring.

[Anonymous]

I know that, but if they no longer have a scoring effect, then it stands to reason that there should be a marginal positive score effect (maybe increase) when they hit 1 year.  Perhaps it is after several hit 1 year that there is some score increase even if it is just 1-2 points. I don't know. Just wondering. 

[Anonymous]

As it happens, one of the inquiries on my EX report passed the one year mark today. Score went up 5 points from 707 to 712. That said, it could be anything that caused the increase and not necessariy the aging of the inquiry.

[Thomas_Thumb]

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@Anonymous wrote:

I wonder if anyone has any history with how much a 1 year old inquiry which no longer counts, effects your score. I know it is not much, but if you have multiple ones, has anyone ever tracked how much is gained backed once they aged? 

Thanks. 

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My understanding is inquiries are grouped into QTY categories such as: 0, 1-2, 3-5, 6-9, 10 or more. If an inquiry drops off but you stay in the same QTY category, then no score impact.

I went from 1 inquiry under a year old to zero back in July and score increased 13 points on EQ Fico 4 - no change on TU Fico4 or EX Fico 4 (the INQ only showed on EQ report).  Industry specific EQ [Fico 4 and Fico 8] scores also increased 7 to 11 points (depending on the model).

Unable to test Fico 8 classic due to being at a ceiling.

[Anonymous]

Thanks that's interesting. That's more than would have thought. This is relevant for those car and home loan shopping. Though those inquiries are supposed to be coded as one if done the same day or within a certain time frame, they also need to be coded correctly as to the type of credit inquiry. Some of my car loan inquiries on the same day are not listed the same. So I'm thinking that I've gotten dinged for more than one inquiry. I'm fairly certain of it.
I'm sure this happens a lot.

[Anonymous]

Yup i too had multiple car loan inquiries not coded correctly. They passed a year in july/August but I also paid down utilization so not sure which had the most effect on scores. Interested to read others experiences. 

[Anonymous]

Good information.  For how long have you been 850 across the board? Have you ever dropped below on any of them and then climbed back? 

What's caused the deviation for the other scores? Your mortgage? Can you have a 850 FICO 8 with a mortgage or even 850 Fico 4 with a mortgage?

[Thomas_Thumb]

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@Anonymous wrote:

Good information.  For how long have you been 850 across the board? Have you ever dropped below on any of them and then climbed back? 

What's caused the deviation for the other scores? Your mortgage? Can you have a 850 FICO 8 with a mortgage or even 850 Fico 4 with a mortgage?

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Most people with Fico 8 850s probably have an open mortgage with flawless payment history to demonstrate credit worthiness and likely have a balance under 50% remaining. This type of credit history actually helps show you are a very low credit risk - which is what the scores are meant to categorize ... credit risk. (I have an open 15 year mortgage, 5 years remaining, with just under 40% balance on the loan)

I have been at Fico 8 850 since the score was 1st reported to me in 2/2014. I get a report through Discover Card every month and the score has never dropped below 850. I purchased the 3B report to check all scores from all three CBs 3/28/2015 and 7/28/2015. Both reports show 850 for all three CBs.

Also, both 3B reports showed the same scores for TU and EX Fico 4 - 823 and 830, respectively. EQ Fico 4 (Beacon 5) increased from 796 to 809 - inquiry on EQ report reached 1 year in June ...so no more point deduct due to inquiry from July forward on EQ report (inquiry never showed on TU or EX reports so no score change).

The industry specific Fico scores (Auto and Bankcard) that showed a significant shift were also associated with the EQ CRA. As with the classic EQ Fico 4, they all increased as a result of the inquiry reaching 1 year and no longer negatively impacting score.

Note: EQ Fico 4 has a "real" score max of 818 and TU Fico 4 has a "real"  score max of 839 - you cannot actually get to a score of 850 on these mortgage scores. See the many flavors of Fico thread for more info on score ranges.

[Anonymous]

I appreciate the information. Very useful. You said, "I have been at Fico 8 850 since the score was 1st reported to me in 2/2014. I get a report through Discover Card every month and the score has never dropped below 850." So before 02/2014 you didn't know your credit score?