I have a few inquiries due to fall off as of yesterday and though TU and EQ removed them, EX still has not. What's their policy? I thought they all had to remove them on the exact day 2 years later. Apparently not.
Can anyone help me catch a clue, please?
@Asilomar wrote:I have a few inquiries due to fall off as of yesterday and though TU and EQ removed them, EX still has not. What's their policy? I thought they all had to remove them on the exact day 2 years later. Apparently not.
Can anyone help me catch a clue, please?
The inquiries will be deleted next month.
EX drops inquiries the first Saturday of the month following 24 months, so some may actually stay for 25 months and some 24 months and a few days depending on the calendar. As was said the effect is generally gone after 12 months.
@iv wrote:
@Asilomar wrote:I have a few inquiries due to fall off as of yesterday and though TU and EQ removed them, EX still has not. What's their policy? I thought they all had to remove them on the exact day 2 years later. Apparently not.
Can anyone help me catch a clue, please?
As mentioned by several others, 24 to 25 months is the practical standard for HP removal.
But I wanted to address the "had to" part.
While there are some specific timelines that CRAs are required to follow (such as the 7-7.5 year negative information removal) - inquiries do not have a similar legal timeline. The 2-year dropoff that the big CRAs follow is based on business practice, not law, and they could choose to change that at will. (Well, as long as their customers and partners didn't complain too much.)
That is very interesting. I had no idea. Thank you for that.
Thanks everyone for taking the time to reply.
I'm aware that the scoring penalty goes away at 12 months but I'd assumed that creditors, for the purpose of credit worthiness/approval, still count (or at least the algorithm does) the total number of inquiries, regardless of age. Am I incorrect?
Inquiries become non-scorable at one year. That means they no longer affect your score.
That doesn't mean they can't affect your approval odds. They are still visible to anyone who pulls your report for the full two years. Lenders are free to apply whatever additional qualifications they wish(within legal limits). Don't think it won't raise the eyebrows of a manual reviewer, though, if you have a gracious plenty.
That doesn't mean they can't affect your approval odds. They are still visible to anyone who pulls your report for the full two years. Lenders are free to apply whatever additional qualifications they wish(within legal limits). Don't think it won't raise the eyebrows of a manual reviewer, though, if you have a gracious plenty.
@Asilomar wrote:
I'm aware that the scoring penalty goes away at 12 months but I'd assumed that creditors, for the purpose of credit worthiness/approval, still count (or at least the algorithm does) the total number of inquiries, regardless of age. Am I incorrect?
I am sensing that you are wanting to apply for a Chase 5/24 card. Is that correct?
