Credit Card Inquiries

[Anonymous]

How long do credit card inquiries affect your credit? I know they remain on the report for two years, but is there a point at which they stop negatively affecting your FICO score?

[Anonymous]

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@Anonymous wrote:

How long do credit card inquiries affect your credit? I know they remain on the report for two years, but is there a point at which they stop negatively affecting your FICO score?

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They have no impact after 1 year.   And the impact reduces fairly quickly during that time

[Anonymous]

Not only do they not have an impact after one year, but depending on the lender, there's a 6-12 month time frame for when the computer doesn't even consider those inquries "recent" anymore. I know for Citi it's 12 months, but for many, it's 6 months. 

[sarge12]

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@Anonymous wrote:

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@Anonymous wrote:

How long do credit card inquiries affect your credit? I know they remain on the report for two years, but is there a point at which they stop negatively affecting your FICO score?

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They have no impact after 1 year.   And the impact reduces fairly quickly during that time

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No impact after 1 year on score...true...but still impacts 5/24 for 2 years...just sayin!

[sarge12]

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@sarge12 wrote:

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@Anonymous wrote:

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@Anonymous wrote:

How long do credit card inquiries affect your credit? I know they remain on the report for two years, but is there a point at which they stop negatively affecting your FICO score?

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They have no impact after 1 year.   And the impact reduces fairly quickly during that time

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No impact after 1 year on score...true...but still impacts 5/24 for 2 years...just sayin!

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Yeah, I know it is actually probably 5 new accounts in 24....but just the same, that is usually what the inqueries were for.

[Anonymous]

How does it impact 5/24?

[sarge12]

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@Anonymous wrote:

How does it impact 5/24?

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It was sort of a joke but most inqueries are to open new cc accounts so after 5...forget chase.

[sarge12]

I have a question...If inqueries only have an affect on your score for 1 year, why does it even stay on the report for 2 years??? Why can it just drop off the report after 1 year?

[Revelate]

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@Anonymous wrote:

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@Anonymous wrote:

How long do credit card inquiries affect your credit? I know they remain on the report for two years, but is there a point at which they stop negatively affecting your FICO score?

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They have no impact after 1 year.   And the impact reduces fairly quickly during that time

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Beacon 5.0 (FICO 04) is full impact for the full year, saw that during my mortgage process last year.  Have you seen something different regarding FICO 8?

[CreditMagic7]

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@sarge12 wrote:

I have a question...If inqueries only have an affect on your score for 1 year, why does it even stay on the report for 2 years??? Why can it just drop off the report after 1 year?

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Just a wild guess on my part but not entirely discountable i think.

So that when certain lenders pull your report and need something additional to meet their own internal approval/denial criteria, which may include 18 months as compared to only the 12 in FICO scoring.