how to remove credit inquiries

how to remove credit inquiries

The term credit inquiry relates to all that information about the companies that have checked your credit report. These inquiries are done by the companies to observe your credit situation for a particular purpose. These inquiries are made every time you apply for a credit card or loan. Each inquiry is added at the end of the credit report for almost two years. Hence, the new inquirer can see the inquiries made by previous ones. This affects your credit score to a great extent.

The credit score of a person depends on several factors and the number of inquiries is one of those. So, the removal of these inquiries becomes extremely important to maintain a good credit score.

You need to understand the types of inquiries and the legal procedures to remove them from the credit. This article answers a few important questions regarding this topic.

What are hard inquiries?
The hard inquiries are those which come in the credit report when you apply for a new credit. The loan, mortgage, and credit card companies look at your credit status after you apply. However, there are other situations that can lead to a hard inquiry such as applying for a new job, new insurance policy, and others. All these situations lead to hard inquiries that occur in your credit reports along with the date of the inquiry. There it stays for two years.

What are Soft inquiries?
Soft inquiries, on the other hand, are conducted without your permission. These are mostly the lenders who help you get a rough idea of the interest rates. However, your existing creditors can also make this type of inquiries to understand your latest credit situation. So, all in all, the soft inquiries are conducted by different companies without your permission.

How to remove credit inquiries?
There are following steps you need to take in order to remove the inquiries from your credit report. 

Get a copy of credit report
Most of the times you don’t know who is looking into your credit status. Hence, you need to get your credit report from all three bureaus and check the credit inquiry section carefully.

Look for unauthorized inquiries
You should read and check all the items in the credit report. Give yourself proper time to mark all the inquiries that are unauthorized from your side. This will give you the idea of all the inquiries that need to be removed from the report.  

Dispute for the removal
Once you have marked the unauthorized inquiries, be ready to dispute for the removal. Here you get two major options. You can either go on your own or hire the services for professional companies.

If you choose to go on your own, it requires several steps. You need to find the address of all the lenders, who have made a hard inquiry without your permission. Then, you have to send them a removal letter that should be certified along with a copy of your credit report.

Finally, it is better to get in touch with professional companies if you have a weak credit status.