Affects of Inquiries on Credit Score

Credit Tip: ✅📊🏦


An Inquiry can account for a drop of 0-6 FICO points and typically lasts for six months. 📅


After 6 months, the point penalty is reduced until the 1-year mark when the actual penalty is removed. 📅


It will show up on your report for up to a full 24 months in many cases. 📅


When you have fewer than 3 cards reporting

💳💳💳


The first 3 cards will not hurt as bad because the FICO provides a boost for your first 3 cards, that’s why lenders suggest most times 3 revolving lines of credit.


✅✅✅


Cards after the first 3 all incorporate these penalties, but can also boost FICO if it reduces overall utilization below particular breakpoint.


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FICO y "El puntaje que usan los prestamistas" son marcas comerciales o marcas comerciales registradas de Fair Isaac Corporation en los Estados Unidos y otros países.