My wife has several, all involving her mortgage from a year ago. My understanding was that only those in the last 6 mo's adversely affect your score. Is this so? Is there a hit on one's score based on sheer number remaining on the report, or does it depend on how long ago they were? Thanks.
It's my understanding that FICO is based on inquiries from the last year, however, inquiries from the last 6 months have more weight. Also, inquiries from that last 2 years will appear on your credit report, so someone manually reviewing your report, like a mortgage broker will see them, but I don't believe that they will be terribly concerned about really old ones. Finally, it's my understanding that inquiries of one type (Mortgage or Auto) appearing within a 14 day period will only be counted as one inquiry. So if she has a bunch of mortgage type inquiries that are close together they are probably only being counted as one. HTH, Brett
Thanks for the feedback. Yeah, I had the same understanding re: how they're viewed if someone were to manually look at it, but I am concerned about the FICO effect. Thanks again.
MORTGAGE inquires are SUPPOSED TO count as one...BUT I was "HIT" with 3 X 7 = 21 I gained the 21 points back after "B" REAL LIFE IS NOT ALWAYS WHAT F.I.C.O. SAYS IT IS!!!
