Inquiries

[Tuscani]

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@Anonymous wrote:

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@Tuscani wrote:

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@Anonymous wrote:
Every inq hurts you.

Message Edited by ilovepizza on 09-09-2007 07:55 PM

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Not true.

Only Inqs under 12 months hurt you... and there is a max number of Inqs you can have before FICO no longer factors them into your score.

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You are correct. There is a limit. However my answer might have been worded a bit off. I should have said in response to "How many inquiries is considered good for your credit rating?" None is considered good. I meant it in a way as there are no helpful ones :-) Thank you for correcting me though.

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From another angle an Inq could help if you obtained a huge CL from it thus lowering your overall util... But then again what impact will the new account have on mix and credit history?? What was the util before and after??

I digress.

[Anonymous]

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@Tuscani wrote:

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@Anonymous wrote:

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@Tuscani wrote:

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@Anonymous wrote:
Every inq hurts you.

Message Edited by ilovepizza on 09-09-2007 07:55 PM

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Not true.

Only Inqs under 12 months hurt you... and there is a max number of Inqs you can have before FICO no longer factors them into your score.

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You are correct. There is a limit. However my answer might have been worded a bit off. I should have said in response to "How many inquiries is considered good for your credit rating?" None is considered good. I meant it in a way as there are no helpful ones :-) Thank you for correcting me though.

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From another angle an Inq could help if you obtained a huge CL from it thus lowering your overall util... But then again what impact will the new account have on mix and credit history?? What was the util before and after??

I digress.

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Ahh yes! But the inq was on Experian. lol!

[smallfry]

Inquiries older than 12 months might not be counted in your FICO score but I would venture to guess there are some credit card issuers who would frown on dozens on your credit report.

[Tuscani]

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smallfry wrote:
Inquiries older than 12 months might not be counted in your FICO score but I would venture to guess there are some credit card issuers who would frown on dozens on your credit report.

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IMO, most creditors really only care about inqs within the last 6 months.

[My2cents]

I think that there are good inquiries.  I experienced a 5 pt increase after paying a cable bill and for some reason they also did and inquiry which resulted in an increase. Go figure.

After checking my report 8/31/08, I see that the weird inq is now gone and there is no change in score.

Message Edited by My2cents on 09-12-2008 02:40 PM

[Anonymous]

IMO, most creditors really only care about inqs within the last 6 months

Interesting - what makes you think so?