Exact Inquiry Drop off date?

[sh9730]

Anyone ever confirmed the exact date for 1 year score changes on inquiries?  I have several that will be over one year soon including several (although should be scored as one since they were all pulled same day while car shopping last year) that will be over one year in the next 30 days.  For example, the car inqs discussed are dated 2/17/07.  Will any score change reflect 2/18?  Or anytime during Feb?

Thanks.

[MidnightVoice]

It ceases to affect your score on its first birthday.

I drops off on its second birthday 

[sh9730]

Yeah, I read somewhere though that they dont seem to drop off on the exact date (something about they can do it anytime during that month), hence the question about when exactly FICO calcualates and score bump. 

Also, somewhat related...I have a car loan that opened in Feb 07 and a credit card that opened in 3/07 (inquiries related to those).  These are the last new credit I ve applied for....does any score bump usually show up as these turn 12 months (ie in the Feb 08 reports for the car loan), or 13 months (not until March 08 reports)? 

[Anonymous]

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sh9730 wrote:

Yeah, I read somewhere though that they dont seem to drop off on the exact date (something about they can do it anytime during that month), hence the question about when exactly FICO calcualates and score bump. 

Also, somewhat related...I have a car loan that opened in Feb 07 and a credit card that opened in 3/07 (inquiries related to those).  These are the last new credit I ve applied for....does any score bump usually show up as these turn 12 months (ie in the Feb 08 reports for the car loan), or 13 months (not until March 08 reports)? 

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You're using the terms "drop off" and "score bump" interchangeably.  you don't get a score bump when they drop off.  You get it when they turn one year old.

They stop affecting FICO on the exact birthday.

They drop off after 24 months on TU and EQ, and after 25 months on EX (for some reason).

[sh9730]

No I completely understand the difference....you answered the question about the score...I was just explaining my reasoning for asking.  I have read on other boards that even though the two year "drop off date is 2/17/08 for example, it sometimes can take until the end of the month when the anniversary occurs before they ACTUALLY drop off the CR.  I wasnt sure if it FICO scored it the same way..you answered the way I thought...that FICO uses the exact date for scoring purposes. 

Any idea on that other date question I asked?

Thanks.

[Anonymous]

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sh9730 wrote:

No I completely understand the difference....you answered the question about the score...I was just explaining my reasoning for asking.  I have read on other boards that even though the two year "drop off date is 2/17/08 for example, it sometimes can take until the end of the month when the anniversary occurs before they ACTUALLY drop off the CR.  I wasnt sure if it FICO scored it the same way..you answered the way I thought...that FICO uses the exact date for scoring purposes. 

Any idea on that other date question I asked?

Thanks.

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OK, I see now.  Sorry for thinking you were confused when you weren't.

I'm not sure which other question you're referring to.  The one about the car loan?  That looks like essentially the same question to me.  What am I missing?

[sh9730]

Well, it is sorta....Here is the deal...Im gonna be mortgage shopping soon....and Im right at that high 600s, low 700s cusp where there is a difference in rates....and trying to figure out whether Im gonna be able to shop sooner rather than later...?  I know later is better always (aging and paydown etc..), but if I can start looking now my impatience wont get the better of me!  SO.....

I have over the last couple months between getting a couple CLIs and paying down my CC balances I ve brought my utils down from 42% to 25% and now 2 of my 5 cards have zero balance and none are more than 30% util.  (Of course there is that stinking lag time for the CRs to update!! Drives me crazy).  THAT, combined with the inqs turning 1 yr old this month, AND two accounts turning one yr old in Feb and March, I SHOULD get a pretty good bump up I would think?  But what Im wondering is if that bump will show up IN the month that the new accounts turn 1 yr?  OR the month after.....not even sure how much difference 1 yr makes on accounts as to score?

I know...Im being **bleep**....but I want to get shopping, but if it means a 1/2% rate difference...I ll be patient until May instead of March...

Thanks.

[haulingthescoreup]

I found that I got score points for the CC going over one year on the first day of the month, and I got points (one or two, I think) on the exact date that the inq first hit. HTH