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c_ross_76
Joined: 22 Jul 2008
c_ross_76's page
Posts: 2
135 Magic Points
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Subject: Once credit drops from being checked is the drop permanent?
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Tue Jul 22, 2008 3:35 am
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| Hey guys. I have a quick question here. When my credit is checked I know my score drops but is this drop permanent? I've heard that after a year these inquires are erased and the points are added back to your score but, I'm wondering if that's true. Thanks in advance. |
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sdchargers_63
Joined: 13 Aug 2007
sdchargers_63's page
Posts: 1498
111 Magic Points
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Subject: credit
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Tue Jul 22, 2008 9:54 am
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| You're right..your Credit Score DOES drop, a bit, when someone checks it. But, it DOES go up, again, as time goes on. However......the more you have Credit Inquiries ('Hard' Inquiries....lenders, car dealerships, etc.) the score will drop more. Hope this onformation helps. |
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JPolito830
Joined: 21 Jul 2008
JPolito830's page
Posts: 27
Location: Richmond, VA
908 Magic Points
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Tue Jul 22, 2008 2:48 pm
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How often should you be checking credit then...like once a year?
_________________
Searching for debt consolidation assistance. |
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c_ross_76
Joined: 22 Jul 2008
c_ross_76's page
Posts: 2
135 Magic Points
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Tue Jul 22, 2008 7:16 pm
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| IC IC. So once my score goes down after it is checked is there any certain thing that I need to do to get it back up or do I just get those points back after certain amount of time? I've heard that just by having loans out and such I will get those points back even if I have not started paying on them (student loans, etc.) Is that right? |
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Morningstar
Joined: 17 Apr 2007
Morningstar's page
Posts: 601
11 Magic Points
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Wed Jul 23, 2008 5:26 am
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Takes about a year.
_________________
I don't dream since I quit sleeping |
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Marc Williams
Joined: 09 Jul 2008
MarcWilliams's page
Posts: 8
358 Magic Points
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Subject: Drop, is temporarely
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Wed Jul 23, 2008 3:44 pm
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Hi,
Your credit score drops when you have your credit pulled and get denied for credit. These hard inquiries will stay on your credit report for 2 years. After that your score goes back up!!
_________________
Marc Williams
Fast & Reliable Credit Repair |
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goodnatured
Joined: 03 Nov 2007
goodnatured's page
Posts: 4007
1224 Magic Points
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Wed Jul 23, 2008 9:17 pm
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Wow, that is a long time to have that on your credit report, is there anyway to remove these, I mean if they are going to deny you the credit it is like a double wammy on you. Your score falls and you don't get the credit anyway, that is not fair.
Does anyone have a letter that one could use to remove the hard inquiries off your report? If so, please share??????
_________________
Goodnatured,
http://cashinpocket.synthasite.com/
for all the ways I make $$ online |
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erb1953
Joined: 31 Dec 2007
erb1953's page
Posts: 621
-55 Magic Points
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Thu Jul 24, 2008 2:53 am
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| I am not sure but maybe there is a letter in the sample letter available in the sample letter section of this site, has anyone checked there? Might be a good place to start, if not, it might be a good project for someone to do. Is anybody up to the task? |
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Mary
Joined: 06 Jul 2006
Mary's page
Posts: 730
17417 Magic Points
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Thu Jul 24, 2008 10:35 am
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Hi c_ross
Marc is right, whenever a creditor checks your credit report, it gets listed there as a hard inquiry and it remains in the credit report for 2 years. However, as far as I know, these hard inquiries may lower your credit score to as much as 10 points.
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Where there's a will, there's a way !! |
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carol
Joined: 27 Jun 2006
carol's page
Posts: 1362
Location: Los Angeles, California
29592 Magic Points
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Thu Jul 24, 2008 10:58 am
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But hard inquiries can be removed from the credit report only if it is unauthorized. I searched through creditmagic and found a sample letter for removal of hard inquiry. The link is http://www.creditmagic.org/letters/credit-inquiry.html . Hope this will help you.
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Keep in touch
Carol |
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andrew000
Joined: 16 Jun 2008
andrew000's page
Posts: 7
236 Magic Points
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Thu Jul 24, 2008 1:11 pm
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I agree. Get as much people as you can to your website, You can do this in various ways, but the way I've seen work the best for me.
Apply for Credit Card |
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FRCreditRepair
Guest
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Subject: Seems you have all the help you need!
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Thu Jul 24, 2008 2:10 pm
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Hi,
Perfect, it seems you have all the help you need. Use the sample letter that the other user posted and get your hard inquiries removed. When getting into Credit Repair (that is what we are talking about) it is always a good idea to read the Fair Credit Reporting Act (FCRA)
If you any more questions let me know!  |
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Marc Williams
Joined: 09 Jul 2008
MarcWilliams's page
Posts: 8
358 Magic Points
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Subject: Seems you have all the help you need!
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Thu Jul 24, 2008 2:12 pm
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Hi,
Perfect, it seems you have all the help you need. Use the sample letter that the other user posted and get your hard inquiries removed. When getting into Credit Repair (that is what we are talking about) it is always a good idea to read the Fair Credit Reporting Act (FCRA)
If you any more questions let me know! Very Happy
_________________
Marc Williams
Fast & Reliable Credit Repair |
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sdchargers_63
Joined: 13 Aug 2007
sdchargers_63's page
Posts: 1498
111 Magic Points
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Subject: credit
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Sun Jul 27, 2008 9:40 am
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| Did I misunderstand or did the above post say you can get Hard Inquiries off ONLY if they are unauthorized? (I think?) if you inquire about your OWN credit, no points are taken off. Correct if I'm wrong, please. |
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sdchargers_63
Joined: 13 Aug 2007
sdchargers_63's page
Posts: 1498
111 Magic Points
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Subject: credit
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Sun Jul 27, 2008 9:44 am
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| I haven't looked at my credit lately. I'm tring to 'research' the different letters, on this forum to get ideas how I can 'proceed' with different items, on my credit. |
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