When do inquiries fall off?

[Anonymous]

I have 2 on my EQ, August and September, are they due to expire 12 months from then? I'm assuming so but then again I don't know much :/

[Booner72]

Hi, Mickey - you might not know much now but just hang around here awhile.  Inquiries are counted in your FICO score until they age to 12 months, then they are no longer factored into your score, but they're still there.  They drop off  your report after 24 months.  Inquiries don't hurt scores very much in my experience.  I have 13 inquiries whereas before I only had a few - my score is staying pretty stable.  I never saw a drastic drop in my scores from inquiries alone - the new account dinging my AAoA (Average age of accounts) is where I felt it.  At least I think so.

[Anonymous]

Ahh I see so if I have 2 5-6 month credit cards and add in a brand new one it throws off that AAoA thus resulting in a lower score.


Also does Gardening mean no apping, no HPs? I think I plan to do that over a 3-4 month period while I GW some collections

[Anonymous]

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@Anonymous wrote:
Ahh I see so if I have 2 5-6 month credit cards and add in a brand new one it throws off that AAoA thus resulting in a lower score.


Also does Gardening mean no apping, no HPs? I think I plan to do that over a 3-4 month period while I GW some collections

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Lets say you have two CC that are 6 months old and that's it on your credit reports, your AAoA's would be 0.5 but FICO rounds down AAoA's so that would mean you have 0 yrs AAoA's. Now my question to the experts, is this correct??  (2 TLs 6 months each= 12 months, divided by 2= 6 divided by 12= 0.5 yrs AAoA's and then FICO rounding down= 0 yrs AAoA's) <--is that correct?

I do know that FICO will not even be able to generate a score until you have 6 months of history, and you say that you want to write some GW letters, so that means you do have other TL's on your report/s, meaning your AAoA's will be higher than what I said in my first sentence, but I'd like to know if my calculations are correct in my first sentence (based on the scenerio of only having 2 TL's that are 6 months old) Would that mean 0 yrs AAoA's?

Yes gardening does in fact mean no apping or requesting CLI's that would result in HP's or  new inquiries. You may want to garden a little longer and let those 2 CC's age a little bit more and see if you can have the derogs removed from your reports. (This is just my opinion) Are the two CC's you have now secured or unsecured?

Regarding inquiries hitting the year mark, I just had one hit the year mark on TU and I gained 4 points (from a 795 to 799 just an example for you) Everyone will experience differences, some may gain more, some may gain less to none. YMMV.

Best of Luck. And Welcome to the Forums

[Anonymous]

Hi thanks for responding,

Yes both my credit cards are unsecured, 1 HSBC and Cap1, I think it's also best to garden and get some of these baddies off my CR with some GW. Also My wife just received a Chase Freedom with a CL of 4k and added me as a joint holder. Will that result in a HP....I was hoping her good behavior will benefit my CR as well.

[Anonymous]

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@Anonymous wrote:
Hi thanks for responding,

Yes both my credit cards are unsecured, 1 HSBC and Cap1, I think it's also best to garden and get some of these baddies off my CR with some GW. Also My wife just received a Chase Freedom with a CL of 4k and added me as a joint holder. Will that result in a HP....I was hoping her good behavior will benefit my CR as well.

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Just make sure Chase reports AU's (Authorized User) as you said "joint holder" same thing, because some CCC's do not report AU's, so be sure to call and ask a Chase CSR if AU's are reported, if you do not feel comfortable their response (meaning if the CSR's response sounds shaky) ask to speak with a supervisor/manager.

Hopefully someone will chime in with a solid answer about Chase reporting AU's.

By her adding you as an AU (since she just received the Chase) your AAoA's might go down a little as it's a new account, but the extra 4K in revolving credit with help you with util, and as long as she maintains a perfect payment history, her "good behavior" will benifit you in time. I do not believe I've ever read a post that said a CCC pulling hard to be added as AU, but nothing surprises me anymore.

I'm Wishing you all the Best.

[MarineVietVet]

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@Anonymous wrote:

 

Lets say you have two CC that are 6 months old and that's it on your credit reports, your AAoA's would be 0.5 but FICO rounds down AAoA's so that would mean you have 0 yrs AAoA's. Now my question to the experts, is this correct??  (2 TLs 6 months each= 12 months, divided by 2= 6 divided by 12= 0.5 yrs AAoA's and then FICO rounding down= 0 yrs AAoA's) <--is that correct?

I do know that FICO will not even be able to generate a score until you have 6 months of history, and you say that you want to write some GW letters, so that means you do have other TL's on your report/s, meaning your AAoA's will be higher than what I said in my first sentence, but I'd like to know if my calculations are correct in my first sentence (based on the scenerio of only having 2 TL's that are 6 months old) Would that mean 0 yrs AAoA's?

Yes gardening does in fact mean no apping or requesting CLI's that would result in HP's or  new inquiries. You may want to garden a little longer and let those 2 CC's age a little bit more and see if you can have the derogs removed from your reports. (This is just my opinion) Are the two CC's you have now secured or unsecured?

Regarding inquiries hitting the year mark, I just had one hit the year mark on TU and I gained 4 points (from a 795 to 799 just an example for you) Everyone will experience differences, some may gain more, some may gain less to none. YMMV.

Best of Luck. And Welcome to the Forums

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That's what I come up with but  AAoA figures all types of accounts whether open or closed except collections and PR's.

To Mickey11: Do you have any other accounts reporting such as a car loan or mortgage?

From a BK years ago to:
EX - 3/11 pulled by lender- 835, EQ - 2/11-816, TU - 2/11-782

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

[Anonymous]

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@MarineVietVet wrote:

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@Anonymous wrote:

 

Lets say you have two CC that are 6 months old and that's it on your credit reports, your AAoA's would be 0.5 but FICO rounds down AAoA's so that would mean you have 0 yrs AAoA's. Now my question to the experts, is this correct??  (2 TLs 6 months each= 12 months, divided by 2= 6 divided by 12= 0.5 yrs AAoA's and then FICO rounding down= 0 yrs AAoA's) <--is that correct?

I do know that FICO will not even be able to generate a score until you have 6 months of history, and you say that you want to write some GW letters, so that means you do have other TL's on your report/s, meaning your AAoA's will be higher than what I said in my first sentence, but I'd like to know if my calculations are correct in my first sentence (based on the scenerio of only having 2 TL's that are 6 months old) Would that mean 0 yrs AAoA's?

Yes gardening does in fact mean no apping or requesting CLI's that would result in HP's or  new inquiries. You may want to garden a little longer and let those 2 CC's age a little bit more and see if you can have the derogs removed from your reports. (This is just my opinion) Are the two CC's you have now secured or unsecured?

Regarding inquiries hitting the year mark, I just had one hit the year mark on TU and I gained 4 points (from a 795 to 799 just an example for you) Everyone will experience differences, some may gain more, some may gain less to none. YMMV.

Best of Luck. And Welcome to the Forums

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That's what I come up with but  AAoA figures all types of accounts whether open or closed except collections and PR's.

To Mickey11: Do you have any other accounts reporting such as a car loan or mortgage?

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So MVV, it is possible to have 0 yrs AAoA's based on the scenerio I posted below?

Lets just say the OP has only 2 TLs 6 months old each= 12 months, divided by 2= 6 divided by 12= 0.5 yrs AAoA's and then FICO rounding down= 0 yrs AAoA's

I know the math is correct but I am just curious if that scenerio would yeild 0 yrs AAoA's (I hope it's not too dumb of a question) or would FICO auto give the consumer 1 yr AAoA's?

If I were to guess I would say 0 yrs, I don't see FICO giving anything helpful for your score free

[MarineVietVet]

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@Anonymous wrote:

 

So MVV, it is possible to have 0 yrs AAoA's based on the scenerio I posted below?

Lets just say the OP has only 2 TLs 6 months old each= 12 months, divided by 2= 6 divided by 12= 0.5 yrs AAoA's and then FICO rounding down= 0 yrs AAoA's

I know the math is correct but I am just curious if that scenerio would yeild 0 yrs AAoA's (I hope it's not too dumb of a question) or would FICO auto give the consumer 1 yr AAoA's?

If I were to guess I would say 0 yrs, I don't see FICO giving anything helpful for your score free

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I agree that it looks like the AAoA would be zero but I really don't know. But I'll ask around. 

From a BK years ago to:
EX - 3/11 pulled by lender- 835, EQ - 2/11-816, TU - 2/11-782

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

[Anonymous]

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@MarineVietVet wrote:

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@Anonymous wrote:

 

So MVV, it is possible to have 0 yrs AAoA's based on the scenerio I posted below?

Lets just say the OP has only 2 TLs 6 months old each= 12 months, divided by 2= 6 divided by 12= 0.5 yrs AAoA's and then FICO rounding down= 0 yrs AAoA's

I know the math is correct but I am just curious if that scenerio would yeild 0 yrs AAoA's (I hope it's not too dumb of a question) or would FICO auto give the consumer 1 yr AAoA's?

If I were to guess I would say 0 yrs, I don't see FICO giving anything helpful for your score free

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I agree that it looks like the AAoA would be zero but I really don't know. But I'll ask around. 

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Thank you MVV for the response, I am looking forward to learning the answer to this.

Just trying to gain as much knowledge as possible, even the little things like this.

Thank you again my Friend