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Inquiries on Credit report

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goodnatured

Joined: 03 Nov 2007
goodnatured's page
Posts: 3927

10 Magic Points

Subject: Inquiries on Credit report

Sun Aug 23, 2009 1:30 am

I have inquires on my credit report, not sure if they are hard inquires or not,, but pretty sure they are.

1. Do these lower my credit score? If so, by how much?

2. Will a simple dispute form remove them? How would one go about having them removed?

Any help would be appreciated@@
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carol

Joined: 27 Jun 2006
carol's page
Posts: 1307
Location: Los Angeles, California

29555 Magic Points

Mon Aug 24, 2009 6:37 am

Hi goodnatured

Have you applied for a loan? A mortgage? Or are you applying for a new credit card? These may be the cases when a creditor pulls your report and this becomes a hard inquiry. Yes it does affect your credit score as in by a few points for 6 months. However, their affect wears out after that and it gets removed.
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Carol

goodnatured

Joined: 03 Nov 2007
goodnatured's page
Posts: 3927

10 Magic Points

Mon Aug 24, 2009 11:04 am

My husband applied but of course I had to be a co applicant. glad to hear that it does not stay on long, I don't plan on taking out any for a long time now, he got his, so he should be done for a while, lol.

thank you for the reply.

fireyone

Joined: 26 Feb 2008
fireyone's page
Posts: 4285

127 Magic Points

Mon Aug 24, 2009 1:13 pm

Goodnatured, It is good to see you back here and continuing to work on your credit. It sounds as if your husband recently got approved for a loan so your hard work must have paid off. Great job!

Optimist

Joined: 22 Aug 2009
Optimist's page
Posts: 20

1295 Magic Points

Thu Sep 03, 2009 3:52 am

Inquiries can remain on your credit report for two years, your credit score calculation only considers those made within a year. Inquiries are 10% of 850 (85 points).

fireyone

Joined: 26 Feb 2008
fireyone's page
Posts: 4285

127 Magic Points

Thu Sep 03, 2009 1:24 pm

That is really useful information. I wonder if you can dispute them and get them removed if they are over one year. Seems pretty useless to list them for tqo years especially if only the first year counts.

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