Boost Your Credit Score – How to Remove Inquiries From Your Credit Report
Boost Your Credit Score – How to Remove Inquiries From Your Credit Report
By Mike Singh
Sometimes you may be doing everything in your power to ensure good credit score ratings for a dependable loan with low interest, but still your FICO numbers do not add up. Inquiries on your credit report are one of the many reasons why people’s credit score ratings have remained impossibly low while actually paying their dues on time and maintaining their finances in proper order.
Depending on many factors such as age and educational attainment and other items listed in your report history, a bulk of inquiries on your credit report can pull down your credit score by a wide and uncertain range of scores. So you ask how to remove inquiries from your credit report? Here’s how.
Soft Inquiry vs Hard Inquiry
The first step once you have received a copy of your credit report is to identify which among the credit inquiries you should have removed. Inquiries come from all types of people and have many purposes. When you ask for a copy of your credit report, this already actually constitutes an inquiry. The important thing to remember on how to remove inquiries from credit report, therefore, is to recognize the distinction between soft inquiries which do not damage your credit score rating, and hard inquiries which do.
Examples of hard inquiries include those from debt collection agencies and credit granters who wish to review your credit history. Make sure that your approval is always attached to those requesting hard inquiries as they lower your credit score. It is also important to ask for the addresses of the creditors from the credit bureau because these addresses will be used for you to follow up on removal requests.
Ask for Documentation
Not all hard inquiries have your permission in fact, so be sure to ask for documentation. If you are presented with a paper with your signature and which you did not understand to have included rights to make inquiries on your credit report, write to the creditors and ask them to remove their inquiries from your report, especially if you had no plans of applying for new credit in the first place and the creditors were not authorized by you. This is because FICO logic works by assuming that too many hard inquiries on your credit report are your personal and deliberate attempts to try to get more credit cards. Creditors naturally do not want people who claim more credit than they can manage, and hence multiple hard inquiries which are often done by creditors you did not solicit are damaging to your credit ratings.
Legal Action
If a creditor fails to comply with your request, especially after 30 days, and is not able to provide proof of your authorization, you may proceed to use legal measures to get those credit-score damaging inquiries out of the way. When dealing with how to remove inquiries from your credit report, a lawsuit against creditors who do not comply with your request can in fact land as much as a thousand dollars for their actions, and aside from your new-found money, they will be forced to remove their inquiries. Of course, in most cases the creditors will simply remove the inquiries, and you are left with a better credit report.
Tired of paying higher interest APR? Do you want to join the those lucky few who get the best rates? Read the credit inquiry removal guide. Visit http://www.my-credit-center.com for more advice on getting the credit cards with the lowest interest rates.
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