Hey guys...
So I have a question about credit inquires.
In January of this year, I went car shopping. I wanted the best rate, and thus, I had many inquires. I know that the amount of inquires only affects your fico score ONCE if within a short period....however....does that amount of total inquires for the past 24 months hurt potential applications?
For example, this is what my inquires look like:
(The highlighted inquires are the auto-loan inquires)
Yet on my report it is showing:
TU: 7 EXP: 13 EQ: 11
Any comments are appreciated. Just trying to understand this whole inquiry thing a little more and how they affect my score / overall picture to creditors.
@Jansroom726 wrote:Hey guys...
So I have a question about credit inquires.
In January of this year, I went car shopping. I wanted the best rate, and thus, I had many inquires. I know that the amount of inquires only affects your fico score ONCE if within a short period....however....does that amount of total inquires for the past 24 months hurt potential applications?
For example, this is what my inquires look like:
(The highlighted inquires are the auto-loan inquires)
Yet on my report it is showing:
TU: 7 EXP: 13 EQ: 11
Any comments are appreciated. Just trying to understand this whole inquiry thing a little more and how they affect my score / overall picture to creditors.
The total amount of inquiries in the past 24 months can hurt you in certain cases. However, they are not factored into FICO scoring after a year, and most lenders disregard them as well, unless you have some derogs on file which a lender will then scrutinize your CR over every single detail.
Don't worry too much about inquiries that are >1 year old.