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Inquiry question.

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I remember reading that while inquiries are on your report for 2 years from the date of the inquiry, its only the ones that are less than 12 months old that affect your FICO scores. Can anyone confirm that?

 

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1 hour ago, j7n1o7 said:

 

I remember reading that while inquiries are on your report for 2 years from the date of the inquiry, its only the ones that are less than 12 months old that affect your FICO scores. Can anyone confirm that?

 

Sent from my SM-G965U using Tapatalk

 

 

 

Yes that is correct.

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1 hour ago, StarkRaven$ said:

Yes that is correct.

Thank you! 

1 hour ago, hegemony said:

the impact is primarily for the first 6 months and remember that 5 or 500 score the same (FIco 08)

Are you saying it doesn't matter how many inquiries you have? The score impact in the first 6 months will be the same for 5 inquiries as it would be for 500 inquiries? Using 5 and 500 as examples of course?

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1 hour ago, j7n1o7 said:

Thank you! 

Are you saying it doesn't matter how many inquiries you have? The score impact in the first 6 months will be the same for 5 inquiries as it would be for 500 inquiries? Using 5 and 500 as examples of course?

yes that is what I'm saying. Of course a creditor may still decline you due to 4,200 inquiries in 6 months but for FICO the scoring is clear.

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15 hours ago, j7n1o7 said:

Thank you! 

Are you saying it doesn't matter how many inquiries you have? The score impact in the first 6 months will be the same for 5 inquiries as it would be for 500 inquiries? Using 5 and 500 as examples of course?

While it may not matter to the score model, it DOES matter to some lenders. 

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