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Early inquiry falloff question

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Frequent Contributor

Early inquiry falloff question

I have an 18 month old in that's still hanging on TU, (From Wal-Mart ). I understand that that it has little or no impact on scoring but.. do they ever drop off early as its due to fall in December? ?
FICO :November 2016
TU-761 EQ 756. EX - 749
No Baddies
QS1 -$2,000. Care Credit $9,600.00 CHASE Freedom $3,000.00 Discover IT $1,000.00
Inq TU 4 EQ 3 EX 2
Message 1 of 4
3 REPLIES 3
Moderator

Re: Early inquiry falloff question

Not that I have heard of

"If there's a lack of money in your life, understand that feeling worried, envious, jealous, disappointed, discouraged, doubtful or fearful about money can never bring more money to you, because those feelings come from a lack of gratitude for the money you have."

"Reactions are powerful creators because they contain every element needed to manifest—they're a combination of thought, belief, and feeling in action. Positive reactions create more positive things, and negative reactions create more negative things. If you can respond to negative situations calmly and lightly, instead of with emotional turbulence, what happens next in your life will be so much better."

- Rhonda Byrne

Message 2 of 4
Frequent Contributor

Re: Early inquiry falloff question

Thanks...it's actually 21 months, so...2 more isn't bad..
FICO :November 2016
TU-761 EQ 756. EX - 749
No Baddies
QS1 -$2,000. Care Credit $9,600.00 CHASE Freedom $3,000.00 Discover IT $1,000.00
Inq TU 4 EQ 3 EX 2
Message 3 of 4
Legendary Contributor

Re: Early inquiry falloff question

The exclusion of inquries is not explicitly regulated under the FCRA.

It is an administative determination of the CRAs, and their normal policy is two years.

 

The CRAs are requried, under FCRA 609, to provide a consumer with the name of any party who made a credit inquiry for employment purposes within the prior two years, and for any other purpose with the prior one year.  Thus, they could choose to remove all inquiries other than those related to employment after one year, but could not delete employment related inquiries until after two years.

That is the only statutory requirement that limits when they can delete.

Two years is likely a result of the retention requirment related to employment related inquiries.........

 

Message 4 of 4
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