How long does a hard credit inquiry affect your credit score?
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  1. #1
    Join Date
    Aug 2009
    Posts
    7

    How long does a hard credit inquiry affect your credit score?

    As you probably know, many, most or all financial institutions do hard pulls when you open various types of accounts with them, even if it is just a savings account and you are not requesting any credit. That sucks for my credit score because I open a lot of accounts for various reasons.

    Recently, this happened to me not once, but twice through a credit union I have an account at. They did one credit pull when I opened my initial accounts and another one when I added another account online. The second one was not necessary, but because of a system glitch they have it happened anyway.

    I am thinking about asking them to remove the second one, but don't want to bother depending on the answer to this question:

    How long does a hard credit pull affect your credit score? If it is say, less than a year, I probably won't bother. But if this has a long term negative impact on my score, no matter how small, I will have to try to get them to remove it.... something I am guessing I can get them to do, but I am not looking forward to since I am sure it will be a huge hassle.

    So that is my question ... How long does a hard credit pull affect your credit score?

    Does anyone know this?

    Thank you for any help.


  2. #2
    Join Date
    Jan 2008
    Location
    Seattle, WA
    Posts
    3,597

    Re: How long does a hard credit inquiry affect your credit score?

    Hey BigPapa! A hard pull will effect your FICO scores for 12 months. After that point the FICO scoring model will ignore the hard pull even though it could remain on your credit reports for 2 years.

    I actually just wrote a blog post yesterday about some interesting facts FICO shared last week on their blog regarding credit inquiries and FICO scores. You might be interested in reading that too. Here's a link: New Data Shows Inquiries Have Little Effect on FICO Scores

  3. #3
    Join Date
    Aug 2009
    Posts
    7

    Re: How long does a hard credit inquiry affect your credit score?

    Hey thanks so much for that answer! Very few things in life have a definitive answer. It's so gratifying when something does!

    And thanks for the blog link. I plan to read it as soon as I finish this post.

    Edit===
    Great blog! ... it already answered the first question I had here... so I edited it out.
    ===

    After reading your blog I don't want to be overly concerned about one hard pull. But as I said, I end up getting a number of them from opening checking and savings accounts, so I am probably a little bit of an outlier in the statistics. Anything I can remove, that wasn't there for a good reason might be a good idea if it isn't too much work.

    If I ask them to remove it from my record, is it a big deal for them to do or a simple task? I'm more inclined to ask them if it's a simple thing for them to do since I think I am more likely to be successful. If it's a big hassle for them I think they are more likely to say no.

    I'm wavering between asking and just forgetting about it. I don't think it will matter much over the next 12 months.

    Thanks again... great info!

  4. #4
    Join Date
    Jul 2010
    Posts
    344

    Re: How long does a hard credit inquiry affect your credit score?

    Quote Originally Posted by JoshuaHeckathorn View Post
    Hey BigPapa! A hard pull will effect your FICO scores for 12 months. After that point the FICO scoring model will ignore the hard pull even though it could remain on your credit reports for 2 years.

    I actually just wrote a blog post yesterday about some interesting facts FICO shared last week on their blog regarding credit inquiries and FICO scores. You might be interested in reading that too. Here's a link: New Data Shows Inquiries Have Little Effect on FICO Scores
    Thank you for great blog post Josh. I just posted it on our FB account. I often get questions about inquiries as well. Thanks! Heather with BoostMyScore.NET

  5. #5
    Join Date
    Apr 2012
    Posts
    2

    Re: How long does a hard credit inquiry affect your credit score?

    It is getting ridiculous. Over the past several years, I have had several people pull my credit and a couple of them told me that their pull would be a soft inquiry-on which basis I then agreed to let them. Then it was not. I tried to argue to the credit bureaus to remove the inquiries but they don't take my word. The sheer amount of abuse of verbal agreements now days is astounding. I have been outright lied to many times-including in these cases of inquiries. On one hand you can't prove anything because it is all verbal but on the other hand the amount of hassle one must go through to get all these simple things put in writing is a serious problem. All I can do at this point is warn people. It has not always been this bad.
    I really think any company that can put a hard inquiry on your credit record or can damage your credit record should be required by law to also place good information on your record should you pay on time.

  6. #6