Don't FICOs factor in inquiries?

Discussion in 'Credit Talk' started by Scrivener, Aug 7, 2002.

  1. Scrivener

    Scrivener Well-Known Member

    I've noticed several people make statements like, "My scores are good, but I have too many inquiries", or, "My scores are good, but my length of credit history is too short."

    Doesn't the score itself already factor in "length of credit history" and inquiries? In other words, wouldn't a good score probably mean you DON'T have too many inquiries or too short a history?

    If I'm missing something, please let me know.

    Thanks,

    Scrivener
     
  2. erik776

    erik776 Well-Known Member

    "My scores are good, but I have too many inquiries"

    Even if you have a good score, if you have say 5 inquires in the last 6 months, you probably won't be able to get another credit card because of the number of inquires.

    Yes certainly the factors you mentioned are part of a FICO credit score.

    http://www.myfico.com/MyFICO/CreditCentral/ScoreConsiders/FICOFactors.htm
     
  3. lbrown59

    lbrown59 Well-Known Member

    Inquires are used to lower your score!
    That's why they report them!
     

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