Hello, I have a question regarding Hard Inquiries on my credit report. I have two sets of inquiries that show up in a set of two and a set of 3, one from a student loan I applied for, and one for when I bought my home about a year and a half ago. On my 3 in 1 report, they show for each CA. Is this normal? I am used to places checking only one CA, not all 3. For the student loan one, I was never approved and did not follow up with a co-signor, can I have that one removed?
Hard inquiries do damage your credit score. A single hard inquiry may not hurt much as it lowers your score by 2-4 points. However, if there are multiple hard inquiries, it may damage your credit score. If you weren't aware that any such inquiries were going to be done, then you can dispute these.
Some lenders have the option to check all three credit reporting agencies - this is because not all 3 will contain the same information and these companies want to know your debt to income.
Credit Card companies don't do this like Mortgage & Student Loan companies.
Sometimes the mortgage company will pull more than one report on a single bureau, if that happens and it was within 14 days, then them inquiries even though they show separate will actually be counted as one.
But I think you were saying that they pulled 1 for Experian, 1 for Equifax, and 1 for TransUnion.
Inquiries only affect the credit score for 1 year, though they can show on the credit report for a total of 2 years.
If you had a good credit score to begin with the damage will be minimal, but if you had poor credit to begin with each inquiries usually will cost between 2-10 points - but like I said over time, that decreases. _________________ Credit Cards Credit Reporting Information Credit Repair Info
crorkz matz Guest
Tue Aug 05, 2014 6:26 pm
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Your personal details (name, email address and phone number) will be delivered to the company advertised on the Creditmagic after ve agreed to go for the counseling session by filling out the no-obligation form. However, it is your discretion to accept or reject their services.
Not all the creditors/debt collectors agree to trim down the outstanding balances, interests, and fees payable by the consumer.
Consumers working with the debt relief companies can still be sued by the creditors/collection agencies.
Debt relief services may have a diminishing effect on the creditworthiness of the consumer. The total outstanding balance may increase as the additional fees get accrued.
The overall amount saved by the consumer through the debt relief services is considered as taxable income by the IRS.