Disputing a Credit Report: Removing Credit Inquiries

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Disputing a Credit Report: Removing Credit Inquiries

To dispute a credit report about removing credit inquiries, let’s first seek to understand what it is.

A credit inquiry is a note on your credit profile. Each time you apply for credit, a creditor requests for a copy of your report. And this activity will be recorded on your report as a credit inquiry.

Credit inquiry effect on your report

Disputing a Credit Report: Removing Credit Inquiries

Disputing a Credit Report Removing Credit Inquiries

Although credit inquiry on your report only makes up about ten percent of your score, it can still lower your score by many points, especially when you have many inquires within a very short period. And depending on the purpose of the inquiry and the type of inquiry, it sometimes can drop your scores even more. There are two types of inquires you should be aware of:

Soft inquiry

It’s the one that you do not make the first move and does not have any negative impact on your score. In general, a soft inquiry is created by your creditors or business you have a relationship with who are looking to give you more credit. For example, the pre-approved credit card offer or service.

Another soft inquiry may come from your employer or potential employer. They don’t affect your score.

Hard inquiry

It’s the one that does have some degree of impact on your score. It normally happens when you apply for new credit, such as a mortgage, a car loan, a credit card, a product you need to finance.

Having several hard inquiries during a short time frame can have a severe drop in your score. However, inquiries from mortgages or car loans that occur less than 14 days are counted as just one inquiry.

While your credit inquiry continues to remain on your file for two years as of the date the inquiry takes place, not all the creditors will look at the 2-year credit inquiry history. Some creditors only care about the past six months of inquiries, and others do look for 12-month or 24-month inquiry history.

How to dispute credit report?

Just like disputing other negative items on your report, you can also remove credit inquiries on your report by sending a credit inquiry removal letter to the creditor with registered or certified mail and ask them to delete the unauthorized inquiry.

Many creditors will simply agree to remove the inquiry, but some creditors will ignore your request. If you don’t receive their reply within 30 days, contact them and address the issue again.