Inquiry Question.......

[Anonymous]

In a two year period, how many inquiries would be considered alot? Lets go back 2 years from todays date which would be 11/2/05. This is of course opinionated but all answers would be appreciated

[SmartCookie]

Only the past 12 months count for scoring.  I like to stay below 2 hard INQs within the past 12 months if I am considering applying for new credit and my FICOs are all mid 700s.

[MidnightVoice]

The FICO score only looks at the last 12 months, so for any lendor that is doing things automatically, it would be best to have less than 3 on the approprriate CR.  If a manual review is going on, then 2 this year and 42 last year would probably not look good.

And for a mortgage, they look at all 3.

So it really depends on what sort of credit you are looking for

[Anonymous]

You always come through with an answer SmartCookie, so as always thank you. Tell me why do some people say the last 24 and others 12? Im right at 2 in the last 12 months so thats cool for me. Also, do you think my CC balance going from $862 to $ 175 when its reported to the CRA will raise my score over the 700 and above plateau.....I Just checked my score through EQ score power and you wouldnt believe where Im sittin at.........699

[MidnightVoice]

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DTG12878 wrote:

Tell me why do some people say the last 24 and others 12?

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The inqus stay on your report for 2 years, and can be seen in manual review.

They only affect the score for the first 12 months.

[Anonymous]

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DTG12878 wrote:

Tell me why do some people say the last 24 and others 12?

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The inqus stay on your report for 2 years, and can be seen in manual review.

They only affect the score for the first 12 months.

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Ok, thanks MidnightVoice...its clear to me now since you put it like that

[Anonymous]

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MidnightVoice wrote:

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DTG12878 wrote:

Tell me why do some people say the last 24 and others 12?

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The inqus stay on your report for 2 years, and can be seen in manual review.

They only affect the score for the first 12 months.

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They only affect the score for the most RECENT 12 months (i.e., from today back to 11/2/2006).

[MidnightVoice]

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DTG12878 wrote:

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DTG12878 wrote:

Tell me why do some people say the last 24 and others 12?

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The inqus stay on your report for 2 years, and can be seen in manual review.

They only affect the score for the first 12 months.

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Ok, thanks MidnightVoice...its clear to me now since you put it like that

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Just don't ask me why on earth they do it that way! 

[SmartCookie]

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DTG12878 wrote:

You always come through with an answer SmartCookie, so as always thank you. Tell me why do some people say the last 24 and others 12? Im right at 2 in the last 12 months so thats cool for me. Also, do you think my CC balance going from $862 to $ 175 when its reported to the CRA will raise my score over the 700 and above plateau.....I Just checked my score through EQ score power and you wouldnt believe where Im sittin at.........699

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thank you and lol I think I responded to your other post and actually said pay down all ya can, so yes definitely!  As for the 24 month vs 12 month INQ scoring issue, MidnightVoice put it perfectly regarding manual reviews.