Credit Inquiries - How to Remove from Credit Report

You may have found some inquiries on your credit report, and are wondering if there is any cause for concern.

The first thing you should understand is where these inquiries came from. Inquiries happen when companies run your credit report for various reasons.

It could be the company you have applied to work for, or financial intuitions that have an interest in knowing more about your credit history. They can even be placed in your file if you have responded to an offer for credit through the mail.

Removing credit inquiries automatically takes place every two years, but if there are frequent inquiries they can still add up like a pile of question blocks stacked.

Many people feel that it is important to remove them from their credit report when they contain information about late pays, collection accounts and bankruptcies. The fact is that it would be better to wait to initiate removing credit inquiries until you have these issues attended to.

Want to see if your credit scores have been affected? .

Reasons for Removing Credit Inquiries

1. If you get too many of them and would like to go into debt for a car or home, it may appear to a creditor that you are hungry for credit or that you may be in trouble financially.

2. An even bigger reason would be that your potential creditor may figure that you actually received multiple lines of credit that appear on your credit report, but they are not yet showing up on your credit history.

3. When you have too many inquiries, credit grantors are apt to believe that you have an imbalance in the ratio of debt-to-income.

It is up to them whether or not they remove the inquiry from your record, but you can still demand that it be removed if they are unwilling to do so. If you would like a sample of such letter, go to my credit repair letters section of this website.

How Inquiries Affect Credit Score

I had a client who had given permission to a used car dealership to check his credit. This caused his application for a mortgage to be denied.

Unfortunately, the used car dealership ran inquiries every week for several months to see if his credit had improved. This appeared as several hard inquiries on his credit report.

He hadn't given the used car dealership written permission for these several inquiries! Yet the used car dealership took that one signature and used it several times.

This disqualified him for a mortgage because he had too many hard inquiries. It had lowered his credit score dramatically.

Have your scores been affected? If you want to check it out, get your .

Have a Question is a great way to find more answers to your questions. So go ahead....pick my brain!

Stay up-to-date with all that is new at First Time Home Buyer Solutions. Subscribe to the RSS feed at the bottom of the navigation bar over on the left.

Leave Credit Inquiries Can Affect Your Score and return to First Time Home Buyer Credit main page.

Return to First Time Home Buyer Solutions home page.

Would You Like Your Own Website?
Click Here for FREE Details.

© 2005-2011 All Rights Reserved
Powered By SBI!