Dee asked in Business & FinanceCredit · 7 years ago

I have 51 credit inquiries in my name.?

As a teen I applied for numerous items and got turned down. I now have 51 credit inquires in on my credit report which drastically ruin my credit. I will like to know how i will it take for these credit inquires to go away?

3 Answers

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  • 7 years ago

    You may have applied for a lot of things but I suspect that not all of those 51 inquiries are hard inquiries resulting from actual credit applications. Most are probably soft inquiries that have no impact on your score.

    In any case, hard inquiries do NOT ruin your credit. A hard inquiry dings your score for a couple points. Your score starts to rebound in 6 months and by the 12th month it no longer impacts your FICO score. Ages off completely in 2 years.

    Having a lot of hard inquiries for credit cards willl likely get you automatically turned down as it appears you are trying to take on too many new lines of credit .... which you are. You should have received letters telling you why you were turned down for those credit cards. You need to "fix" that before you apply for more credit. My guess is that you don't have sufficient income along with your lack of credit history.

    Wait at least a year before you apply for any new credit. Go to your bank. They are th most likely to extend credit to you. You will likely have to start with a secured credit card.

  • 7 years ago

    It takes two years for them to go away completely. However, they only affect your score for the first year. For the second year, they are visible, but don't matter.

  • Anonymous
    7 years ago

    After a couple of years of having vaguely rationally, you should start to be OK. This will hit your rating for some time though - 51 inquiries shows a huge interest in spending lots of money and as a teen not having any sense of paying it off, which is kind of what creditors don't want to see. Poor impulse control does not make for a good credit risk.

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