Inquiries on your credit score, whenever you apply for a loan, can appear for two years on your credit report and can dent your score. For instance, more than six hard inquiries within six months can result in your loan application being declined. Your credit score is garnished anywhere between three and seven points after every inquiry. By any standard, inquiries are not good on your credit rating and you should find a way of removing them.
The following tips can help you understand how inquiries can be removed from your credit report:
Is it Possible to Remove Inquiries From Your Credit Report?
Wondering if it is possible to remove inquiries from your credit report? Indeed, it is very possible to get rid of these unwanted inquiries. They serve no other useful purpose apart from negatively affecting your credit score. This, in turn, affects your creditworthiness. Different methods can be used to remove inquiries from your credit report. If you want to learn how you can do this, an article at DisputeBee can be your starting point. It is essential that you should first gather more information about how you can successfully remove the seemingly troublesome inquiries from your credit report.
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Steps to Remove Inquiries From Your Credit Report
It seems that many people are not aware that companies can access your credit without your consent but legally, they should have it. A company that fails to access your consent first before pulling your credit will be violating a Federal law called the Fair Credit Reporting Act (FCRA).
When a company pulls your credit without your consent, you should open a dispute with Experian, TransUnion, and Equifax since these are the three biggest credit bureaus. The law compels these bureaus to remove the inquiries from your report if no consent was sought from you before your credit score was pulled.
You can also send a physical letter to the credit companies requesting the authorization documents if you realize they have pulled your credit without your consent. Upon failure to produce the documentation, the credit companies should remove the inquiries from your credit report.
Alternatively, you can also sign up for an online platform that can generate dispute letters fairly quickly in case of unauthorized access to your credit report. These dispute letters are just the same as the ones used by professional credit repair firms. You then post the physical letters to the credit companies requesting them to remove the inquiries and subsequent damage they would have caused to your credit score. You will get the same results but the process can take up to 30 days, so you should be patient.
Hard inquiries on your report are not good since they can affect your credit history which often makes credit companies reject your loan application whenever you want credit. However, you can restore your integrity by approaching the responsible authorities so that they can remove the inquiries. You can also use customized software to remove inquiries online.