how to get hard inquiries off my credit report
A hard pull on credit is made every time a lender pulls your credit report in equally anytime you apply for new credit such as a credit card, auto loan, or mortgage among others. However, multiple hard inquiries within a short period are generally unfavorable to the credit score, as it may seem that the user is eager to get new credit or loans. Nevertheless, you have some choice in erasing these hard inquiries from your report.
Wait It Out
The good news is that making hard inquiries will automatically drop off your credit report after 12 months. This means if you do not do anything for one year starting from the date of the inquiry, it will be wiped out of your credit report and will not impact your credit score.
You can also use the excuses to explain any inquiries that are less than 12 months old to future lenders by informing such lenders that you were comparing the best rates for a new car loan or a new mortgage. However, as long as the rate of shopping occurred in a specified time frame, most of the lenders will not raise an eyebrow over the multiple strikes.
Dispute Inaccurate Hard Inquiries
When you come across a record of a hard inquiry on the report that you did not authorize, or you feel was made in error, then you can challenge the record. You should take a copy of the report from the three credit bureaus namely Experian, TransUnion, and Equifax. Go through your reports and locate the place where you can find the inquiries. This section will display the name of the company that made the inquiry, the date, and other details connected to it.
If you see an inquiry you think is inaccurate: If you see an inquiry you think is inaccurate:
1. Place an asterisk or encircle the question in question.
2. File a dispute letter to the appropriate credit bureau explaining that this inquiry is irrelevant and or unlawful. If possible, provide copies of the documents used as a reference in the case.
3. Always make sure to courier your letter through registered mail with acknowledgment.
4. The credit bureau will then be expected to investigate within 30 days from the time the alert was entered.
5. If this cannot be proved to be accurate, the credit bureau is obliged to delete it from your credit report.
Stay constant and keep arguing until the inaccurate hard inquiry is no longer reported as such.
Creditors can be requested to delete hard inquiries from credit reports.
Another choice the consumers rarely know is that you can ask the original credit who conducted the hard inquiry to erase the recent. When the creditor that has requested a report from the credit bureaus withdraws the inquiry, the credit bureaus withdraw the inquiry as well.
To do this, the borrower has to make a courtesy call or write to the lender politely and ask them to remove their credit inquiry for the sake of your application approval. Be sure to provide them with the following key details: Be sure to provide them with the following key details:
- Your complete name and year of birth
- The particular date on which they accessed your credit
- The reason for the credit check done on them (loan application, credit card, etc)
If it has been 90 days or more after the last time the lender ran your report, then they should be able to pull out the inquiry as if it never occurred. Those hard inquiries also get deleted from your other credit bureau reports in a fully automated process via the credit agencies’ reporting systems.
The method is effective if you have prior dealings with the lender or if you received an offer from the lender and declined it. Well, there is nothing wrong with politely requesting them to remove their credit revelry.
Negative hard inquiries take time to fade away from your credit report hence the need to improve your credit score.
Finally, if you find that there are hard inquiries that cannot be deleted early or that you cannot dispute to be removed from your credit report, then do not worry. What is even good news is that there are ways you can improve your credit in other fields to neutralize those inquiries – and thus your score will rise again very soon.
A few counterbalancing tips include: A few counterbalancing tips include:
- Always pay all credit accounts in full with no delay each month
- Use credit cards sparingly & keep credit utilization ratios below 30%.
- There should not be any applications for new loans or credit facilities for at least the next 6-12 months
- Get a valid user on another old credit account
The better credits you form, the less impact those inquiries during application will have on your rating in the long run. Check your credit reports regularly using the free credit report services that are provided once per year. It also has the added benefit of improving your odds of getting a loan in the future as your credit health continues to be healthy.
Therefore, fear not the hard credit inquiries and keep on performing the right actions, and you will see it shift in your favor with time.
Ready to boost your credit score? Call +1 888-804-0104 now for the best credit repair services near you! Our expert team is here to help you achieve financial freedom and improve your credit. Don't wait—get started today!