Inquiries from unrecognized businesses could be a sign of credit fraud but mostly isn’t. The first thing to do is categorize the kind of inquiry.
There are two kinds of inquiries on your credit report: Requests seen only by you, and requests seen by others.
Requests seen only by you are known as “soft inquiries.” They’re usually pre-approved offers and account analyses by your current lenders. You might not be familiar with all the companies that looked at your credit report to send you pre-approved offers. These type of inquiries are not viewed by other creditors and don’t have a negative impact on your credit score. They‘re offered so that you’ve a comprehensive record of who has viewed your credit history.
Requests seen by others, at times called “hard inquiries,” are as a result of your application for credit or other services. If you have not placed a request for any services, a hard inquiry from an anonymous company could be a sign that somebody is using your identity to obtain credit.
Remember that when shopping around for the best rate on auto loan and mortgage, the lender might send your info to many companies searching for the best loan terms. Even though you might not recognize the name of each of these individual companies, they’ll each appear on your credit report.
An inquiry or account might also show up on your credit report under an abbreviated name or the name of a parent company that you don’t know. This is most common with when an account is reported by the bank that oversees the account rather than in the name of the business.
If you’re incapable of identifying why your report was viewed, you should contact the company directly for more information.
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