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Start Disputing Inquiries on Your Credit Reports

Disputing Inquiries on Your Credit File

It is a known fact that if you have applied for various lines of credit in a short span of time it will adversely affect your credit score. I would like to suggest in cases where you were not the one initiating the inquiry, such as mortgage loan or auto dealership, a third party was trying to get you approved via multiple lenders you must take time to despite the inquiry on your credit files. Disputing inquiries on your credit file is an important part of your credit repair journey. Each inquiry can mean a 5 point drop of your score. I have seen evidence of someone having a car loan approved but it was after six lenders were pinged and resulted in 30 point drop in the consumers credit score. That’s the danger of not demanding limited inquiries when purchasing a car or home.

There a couple types of inquiries on your credit files. The first is “soft” inquiry where a creditor is buying data from the credit reporting agencies to help them market preapproved offers to consumers. Another form of soft inquiries is when a creditor does a check-up on a consumer who already has an account with them. For instance, American Express is known to run a soft inquiry on cardholders each year to determine if the cardholder is worthy of the account. The second type of inquiry is a “hard” inquiry which is initiated by the consumer and is an indicator that the consumer is seeking credit.  Hard credit hits are the ones we need to address.

If you have multiple inquiries they do adversely affect your credit score so one of the first things you should do in your credit repair journey is dispute them. Persistently disputing of these can lead to removal which will in return raise your score up to 5 points per inquiry. Even though credit report inquiries rotate off your credit file in two years it is best to keep disputing them to keep them off your records and out of your scores impact.

I have a good proven letter here to show you how to dispute inquiries on your credit files. It is free with sign-up of my newsletter.

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