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Inquiry 2 Year Period Over Recently - Still Appearing - Is this Normal?

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Anonymous
Not applicable

Inquiry 2 Year Period Over Recently - Still Appearing - Is this Normal?

Gang:

 

I had a hard inquiry on 12/31/08.  I've pulled my USAA Credit Monitoring a couple times and it is still showing up.  I'm anticipating a bump in my score so should I be:

 

A) Drafting a Letter

B) Ditching the Fako reports

C) Not being so neurotic

 

Is there any lag in inquiries appearing or disappearing?

 

Thanks

 

Message 1 of 10
9 REPLIES 9
RobertEG
Legendary Contributor

Re: Inquiry 2 Year Period Over Recently - Still Appearing - Is this Normal?

It's a little early to presume it wont drop.  Give it another month.

Just a few points regarding the drop of inquiries.

Deletion of inquiies from you CR are, in actuality, totally unregulated under the FCRA.  There is no mandated 2-year CR deletion..

It is just based on the normal practices of the CRA, and is not a disputable item.

Dates of drop of items that are subject to CR deletion under the various provisions of FCRA 605(a) are specified in the statue to drop, not at the date of expiration, for example 7-years for an old delinquency, but rather after the 7 year period.

Thus, even if the FCRA did regaulate CR deletion of inquiries under a date of two years, delletion would not be required until after two years.

For an inquiry made in 12/2008, deletion would not have have required until Jan or Feb. of 2011.

 

Since FICO policy is not to include inquiries in their scoring after one year, it is, for the most part, kinda academic.

 

 

Message 2 of 10
Lel
Moderator Emeritus

Re: Inquiry 2 Year Period Over Recently - Still Appearing - Is this Normal?

 


@RobertEG wrote:

It's a little early to presume it wont drop.  Give it another month.

Just a few points regarding the drop of inquiries.

Deletion of inquiies from you CR are, in actuality, totally unregulated under the FCRA.  There is no mandated 2-year CR deletion..

It is just based on the normal practices of the CRA, and is not a disputable item.

Dates of drop of items that are subject to CR deletion under the various provisions of FCRA 605(a) are specified in the statue to drop, not at the date of expiration, for example 7-years for an old delinquency, but rather after the 7 year period.

Thus, even if the FCRA did regaulate CR deletion of inquiries under a date of two years, delletion would not be required until after two years.

For an inquiry made in 12/2008, deletion would not have have required until Jan or Feb. of 2011.

 

Since FICO policy is not to include inquiries in their scoring after one year, it is, for the most part, kinda academic.

 

 


This is the key point here.  Any effect of the hard inquiry already dissipated a year ago.

 

 

With regard to your specific questions:

 

A)  NO.  This could come across as disputing an inquiry and could seriously mess things up (i.e. fraud alerts slapped across your credit reports).

B)  Definitely ignore the non-FICO scores, but if you have a need to regularly monitor your credit reports, then the service might still be good for you.

C) Yes! Smiley Happy

 

Welcome to the FICO Forums.

Message 3 of 10
Anonymous
Not applicable

Re: Inquiry 2 Year Period Over Recently - Still Appearing - Is this Normal?


@Anonymous wrote:

Gang:

 

I had a hard inquiry on 12/31/08.  I've pulled my USAA Credit Monitoring a couple times and it is still showing up.  I'm anticipating a bump in my score so should I be:

 

A) Drafting a Letter

B) Ditching the Fako reports

C) Not being so neurotic

 

Is there any lag in inquiries appearing or disappearing?

 

Thanks

 


C.  Smiley Happy

 

Actually, a little worry is understandable.  I assume you are talking about INQs on Experian.  Although TU and EQ drop INQs pretty much exactly on the 2-year anniversary, EX usually drops INQs during the first week of the month following the two-year anniversay. 

Message 4 of 10
Anonymous
Not applicable

Re: Inquiry 2 Year Period Over Recently - Still Appearing - Is this Normal?

Yes the inquiry is Experian reported.   Actually it is a little deeper than that.  It is an American Express card inquiry in a last minute attempt to preserve frequent flyer status.  When I found out the miles associated with the card would not post until after the change of year, effectively insuring that I could not retain the elite flyer status, I cancelled the application.  But the inquiry went through anyhow. 

1) I wasn't aware that Fico looks at 1 year inquiries.  Thought it was a two year span for cc. 

2) I also assumed that the inquiry is recorded immediately through software, and presumed that it would disappear automatically from the databases based upon the date.

3) The comment on fraud troubles me.  If I send a letter and after investigation I'm proven wrong it can be construed as fraud?

4) When I'm pulling my Creditmonitor reports I'm I getting up to date info or is it regurgitating a report for $12.95/month?

I appreciate all the information.  Feel like a babe in the woods here.

 

 

Message 5 of 10
MarineVietVet
Moderator Emeritus

Re: Inquiry 2 Year Period Over Recently - Still Appearing - Is this Normal?


@Anonymous wrote:

Yes the inquiry is Experian reported.   Actually it is a little deeper than that.  It is an American Express card inquiry in a last minute attempt to preserve frequent flyer status.  When I found out the miles associated with the card would not post until after the change of year, effectively insuring that I could not retain the elite flyer status, I cancelled the application.  But the inquiry went through anyhow. 

1) I wasn't aware that Fico looks at 1 year inquiries.  Thought it was a two year span for cc

2) I also assumed that the inquiry is recorded immediately through software, and presumed that it would disappear automatically from the databases based upon the date.

3) The comment on fraud troubles me.  If I send a letter and after investigation I'm proven wrong it can be construed as fraud?

4) When I'm pulling my Creditmonitor reports I'm I getting up to date info or is it regurgitating a report for $12.95/month?

I appreciate all the information.  Feel like a babe in the woods here.

 

 


Hello and welcome to the forums.

 

For scoring purposes any type of inquiry (not just for a credit card) is looked at for one year but for 2 years any and all inquiries are there for creditors to see and alot of them (inquiries) can sometimes make lenders nervous.

 

 

 

From a BK years ago to:
EX - 9/09 pulled by lender 802, EQ - 10/10-813, TU - 10/10-774

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".

 

 

 

 

Message 6 of 10
Anonymous
Not applicable

Re: Inquiry 2 Year Period Over Recently - Still Appearing - Is this Normal?


@Anonymous wrote:

Yes the inquiry is Experian reported.   Actually it is a little deeper than that.  It is an American Express card inquiry in a last minute attempt to preserve frequent flyer status.  When I found out the miles associated with the card would not post until after the change of year, effectively insuring that I could not retain the elite flyer status, I cancelled the application.  But the inquiry went through anyhow. 

1) I wasn't aware that Fico looks at 1 year inquiries.  Thought it was a two year span for cc. 

2) I also assumed that the inquiry is recorded immediately through software, and presumed that it would disappear automatically from the databases based upon the date.

3) The comment on fraud troubles me.  If I send a letter and after investigation I'm proven wrong it can be construed as fraud?

4) When I'm pulling my Creditmonitor reports I'm I getting up to date info or is it regurgitating a report for $12.95/month?

I appreciate all the information.  Feel like a babe in the woods here.

 

 


2.  My experience is that INQs do appear immediately.  I have always pulled my CRs immediately after applying for credit and have always seen the resulting INQ.  As for disappearing, all but EX remove them pretty much two years to the date.

 

3.  It's not that you are involved in committing a fraud, but that they will think the INQ resulted from someone used your identity to apply for credit.  CRAs have been known to place fraud alerts on your credit file if you dispute an INQ and that can be a pain in the neck for you if you plan to apply for credit again in the future.  The fact is that you did apply and the INQ is legitimate.

 

4.  In my experience, it is fresh data each time.  Not sure if that is the case with every service, though.

Message 7 of 10
RobertEG
Legendary Contributor

Re: Inquiry 2 Year Period Over Recently - Still Appearing - Is this Normal?

The term "fraud alert" in FCRA 605A is NOT an offer of proof of an actual "fraud."

As stated in the statute, it is merely an assetion in "good faith"  of a suspicion that "the consumer has been or is about to become a victim of fraud or related crime, including identity theft"   A simple, good-faith statement by you,nothing else.

 

However, if you want to ramp-up the identity theft process, in addition to putting a "fraud alert" on the account, and additionally seek the blockage of the already-posted information from inclusion in your CR, then you have to go through the hoops under FCRA 605B of first obtaining an formal "identity theft report" under FCRA 603(q), and including that in your letter to block the reported information from your CR.

All an "identity theft report" is,in English, is a police report.  Similar to a assertion of possible identity theft under FCRA 605A, it does not require any proof on your part.  Its significant is that you must sign a police report, thus verifying under penalty of law, that your assertions are not knowlingly false.   FCRA 605B requires at least that level of addition certification of your assetion before it takes the step of CR blockage.

Message 8 of 10
Anonymous
Not applicable

Re: Inquiry 2 Year Period Over Recently - Still Appearing - Is this Normal?

UPDATE 1/20/11  -  The hard inquiry I was referring to 12/31/08 has disappeared from my Fako report some time between 1/7 and today 1/20.  Fako report bounced up 4 points.  So I'm speculating that inquiry removal may not be automated or there is a lag in the info pulls.

 

If the FICO inquiry is only a 1 year window, it is acedemic as mentioned prior. 

 

Message 9 of 10
Anonymous
Not applicable

Re: Inquiry 2 Year Period Over Recently - Still Appearing - Is this Normal?


@Anonymous wrote:

UPDATE 1/20/11  -  The hard inquiry I was referring to 12/31/08 has disappeared from my Fako report some time between 1/7 and today 1/20.  Fako report bounced up 4 points.  So I'm speculating that inquiry removal may not be automated or there is a lag in the info pulls.

 

...

 


 

Of course it is automated.  Do you think any credit bureau employes a few hundred thousand people just to comb millions and millions of credit files looking for INQs that should drop?

 

As previous pointed out, TransUnion & Equifax has an automated process which drops INQs exactly two years to the date the INQ was placed on your credit file.

 

Experian's automated process is run only -- yes, only -- one time per month.  All INQs set to drop during any particular month are actually dropped during the first two weeks of the following month.  To make this more understandable, Experian runs their process during the first week or two of, say, January to remove all INQs slated to be removed in December.

Message 10 of 10
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