Credit Inquiry

[Anonymous]

If I had an inquiry back in July 2008 would it drop off on July 1st 2009? Also what kind of impact would it have on my score?

[llecs]

Depends on the CRA. TU and EQ typically have removed on the first for myself.

Points? Likely none. The damage gradually fades over time up to 12 months. However, if you have a new TL associated with that inquiry, you will likely see an increase assuming you don't have any recent, new TLs.

[Anonymous]

I've never had an inquiry drop off any of my reports before they were 2 yrs old. I'm assuming that any impact from these inquiries disappears long before that time though.

I have several inquiries on TU from 2007.

[Junejer]

Kdoggflog, the INQ will remain on your reports for two years, but it will only count for one year against your score. The impact lasts for the full 12 months and then the impact goes away. If you lost points due to that INQ, then you will get those points back. Just be aware that if other things are going on at the same time, that you might not be able to discern the increase.

[haulingthescoreup]

Also, if this was your last (= most recent) new account, you'll get points when it hits one year old for no longer having an account "younger" than one year old.