Effective number of INQ in the last 12 month for Fico8 calculations

[xenon3030]

I am checking my EX report and I have 9 INQ in the last 12 months. But it seems that EX Fico8 calculations use only 6 of them.

Some INQ are in the same month but from different places. Is it possible that they would be counted as one INQ?

Also, some INQ are from the same lender but in different months. Maybe, they were counted as one INQ.

From the forums, I heard that submitting several loan applications via different institutes in the same day would result to count all these HPs as one INQ. Is it true?  If this is the case, maybe the INQs within a few days can be also counted as a single INQ even not for loan applications.

[Anonymous]

How do you know that EX is only "counting" 6 of the 9 you have in the last 12 months?

Loan app inquiries received around the same time if coded properly will only be viewed as a single inquiry.  It doesn't matter if there are 10 or 100.  I know this period of time is at least 14 days, but believe it to be up to 30 days.  If the inquiries are all received during that time period and coded properly, they are scored as a single inquiry.

[xenon3030]

In the summary of parameters that determine Fico8, it shows the considered INQ=6 in the last year instead of 9.

INQ are for CC (INQ type: bank CC) and one for apartment renting (INQ type: tenant screeners).

How does INQ coding work for multiple INQs (CC, auto or mortage loan) within a few days or a month to be considered as 1?

If I want to apply for loan, how can I be sure that all INQs would be counted as 1?

[Thomas_Thumb]

[xenon3030]

OK. Can it also by chance work for CC INQs?

No INQ in the last 2 months and no INQ for loan. How does the 9 INQs/year would be counted effectively 6?

[Thomas_Thumb]

One old time poster, JLK93, strongly believes CC inquiries may be DeDuped (grouped together) if they occur during a 45 day time period based on his results.

See paste below:

However, I have not seen anything from Fico stating this and it is not something I will ever be testing.

[xenon3030]

It is either 30 days or 45 days. If I consider any of these assumptions, due to the special distribution of INQs over the year, I end up with 6 INQs.

If this can be the case, in a month that a person applies for loans, it might be a good idea to shop some CCs after fixing the loan.

Note: For 45 day periods, I counted them like this: Jan 01-Feb 15, Feb 16-Mar 31, ... Difficult to be exact 45 day periods but simply considering first, mid, last day of months.

[Anonymous]

I think it would be a massively gaping hole in the FICO algorithm if it allowed the de-duping of CC inquiries. 

It makes sense for auto/mortgage inquiries to be de-duped, as no matter how many inquiries are taken the result is almost always just 1 new account. 

With credit cards, if someone takes on 10 new inquiries there's a possibility that they're takingon 10 new accounts, or in the event of a CLI they are still taking on more credit.