I recently stumbled across an article on MSN. Pretty good article, but the part of it that puzzled me a bit was this section: "If you want to minimize the damage from credit inquiries, make sure that when you shop for a mortgage you do so in a fairly short period of time. The FICO score treats multiple inquiries in a 14-day period as just one inquiry and ignores all inquiries made within 30 days prior to the day the score is computed." http://moneycentral.msn.com/content/Banking/Yourcreditrating/P41876.asp I have been working under the auspices that removal of old inquiries, whether they are 3, 9, or 15 months old will help put some points back on your credit score. Is this true? Untrue? Should I continue my efforts to remove old inquiries with the goal of helping my score out? Or should I forge it per this article? In the past I have focused on the major tradelines, but now I'm "fine-tuning" and trying to get some of these inquiries off. There is also a free pdf file from the myfico.com website written by Fair Isaac that seems to echo the sentiments of the writer of the MSN article. Any thoughts / experiences / insights would be most appreciated. Have a great weekend everyone!
"HARD" inquires HURT your score... REMOVING ANY "HARD" WILL HELP... "THEY" say that they only HURT for 6 months... I started a RE-FI...3 "HARD" IN LESS THAN ONE WEEK X 7 POINTS EACH = 21 POINT <LOSS>...NOT A 7 POINT <LOSS> THE 30 DAY WINDOW FOR MORTGAGE AND AUTO I THINK IS JUST A RUMOR
From what information I have gathered, the creditor (as in mortgage company or auto credit grantor) has to have subscribed to their system which allows the inquiry to be read as one. Most firms don't have the upgrade and hence when it is run, every inquiry is a hard--my last car had 7 hards. ouch!
