I'm planning on doing an AOR in a couple of months. I just need a little clarification on this before I do it. I have a bunch of inquiries about to drop off dated 10/17/06. Would these inquiries "fall off" or not come into play starting on exactly 4/17/07 or would I need to wait a couple of days/weeks for these inquiries not to effect me. In other words, do I have to wait EXACTLY 6 months or would I need to wait a little longer for them not to hurt me. I've heard conflicting information over this.
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posted: Feb. 7, 2007 @ 3:19p
SecondCor521
Senior Member
posted: Feb. 7, 2007 @ 3:22p
I'm no expert but I have seen evidence that exactly 6 months is the answer. I would personally wait 6 months + 1 day.
The evidence I have is that in the "Inquiries in the last 12 months" on my Equifax report the inquiries drop off right on the 12 month mark.
2Cor521
sithlordabe
Ancient Member
posted: Feb. 7, 2007 @ 3:35p
Inquiries are supposed to stay on for 2yrs, although EQ and TU have been known to drop some earlier (they stay 25 months on EX and NEVER drop off before then). They only impact your FICO for a year. The rule of thumb is that their negative impact on your score is greatly reduced after approx. 6 months (same goes for new accounts).
LustfortheMoment
Senior Member - 1K
posted: Feb. 7, 2007 @ 3:48p
Leeskey, my guess is that they'll remain on your CR for two years. However, as has been stated, they're accorded less weight after 6 months. Together, they only serve to make up a small percentage of your total FICO score. If your credit house is in order, you shouldn't have any problems.
CreditGuy
Senior Member
posted: Feb. 7, 2007 @ 5:12p
Fair Isaac says inquiries affect your FICO scores for 12 months, not 6 months.
Yes, I've read otherwise too. I used to think it was only six months myself. But twelve months is correct. Check for yourself on page 13 here.
cardjuggler
Senior Member
posted: Feb. 8, 2007 @ 12:38a
Has anyone done an AOR with close to 0% utilization (perhaps a small balance on a card that's used for everyday purchases) but high # of less-than-6-month inquiries? Or, even less-than-12-month? Alas, that's hard to test since it takes an AOR (or something like it) to generate enough inquiries to make a big impact....
I wouldn't be surprised if CC issuers consider BOTH the credit score (roughly corresponding to the "mortgage FICO" that we can pay for at Equifax.com or myFICO) AND number of inquiries (possibly via a FICO score that we'll never see).
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