Credit Repair

Credit Inquiries

credit inquiry

When it comes to Credit Inquires one must understand that there are two different types of inquiries. One type of inquiry will negatively affect your score, although not by too much, the other one will not affect your score. Knowing the difference between the two will help you better understand the often misunderstood topic of credit inquiries. There are soft and hard inquires. A “hard” inquiry is the one that is a little harmful, the soft one is not. Your credit report will show both hard and soft inquires that you or others have made.

An example of a soft examination is if you go and check your report, if a company looks at it in order to then mail you a pre-approved card or something like the owner of a company checks up on your credit report to evaluate you as a possible employee. A hard inquiry is if a business looks over your credit report in order to process an application. The reason why it is looked at as negative is because it sends the message that you are monetarily challenged and are eagerly seeking credit to resolve the issue or that as a result are taking on additional debt. Any hard inquiry made on your account will show for 2 years, soft ones typically remain for 1 year.

These items are like any other issue on your credit report when it comes to being able to dispute them. In order to do this, you would need to contact the creditor actually looking up your report. You could then contact them asking for proof that you provided authorization to them in order to look up your report. If the business in turn is unable to prove this, then they are actually obligated legally to eliminate this from your credit report. This can be a bit of a pain for the creditor to actually go ahead with this and as a result it may be easily removed. You can even argue with the credit bureau that provided the information and like all other issues, if they cannot grant a legitimate reason for releasing your report, it must legally be removed.

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