Does anyone know how many points are gained on a credit report when inquiries and old accounts drop off?
May, 2010 in Dispute Credit ReportI am just curious to know how the point system works with credit scoring. When I have inquiries to drop off of my report, how many points am I going to gain? Also, the same with old accts?
That is a secret protected by FICO and the credit reporting agencies.
Inquiries show for 24-months but only affect score for 12 so them dropping off will have no affect at all.
Derogatory accounts show for 7-years from the date of first delinquency and since credit scores are 90% made up of the last 24-months of activity anything old enough to drop off will have very little affect on peoples score.