Getting Rid of Credit Inquiries
Credit inquiries are used by a bank or a company to check your credit report when you have applied for a loan or a credit card. Credit inquiries reduces your fisco score. Getting financing can be hard if you have a low fisco score. There are means of removing inquiries from your credit report before the normal 2 years period. The type of information in your account does not matter. The verification of the item is the essential priority.
Credit inquiries is made up of two types. The first type is the soft inquiry. This type of inquiry has no negative impact on your credit report. For instance, whenever you request a copy of your credit report. Hard inquiry is the next one. Your credit scores are lowered by hard inquiries on your credit report. Getting loans or other types of financing is tough when you have a lot of hard inquiry. It is vital to know how to remove inquiries from your credit report before applying for a loan.
Start by analyzing each item on the credit reports from all the credit bureaus. Look at both the soft and hard inquiry section. If you find any item that you did not authorize or was incorrectly documented, challenge the reports. Once you have seen the inquiry that is causing you problems, start with writing a dispute letter to remove the negative credit from your report. Once the bureau gets the dispute letter, they will start investigating the item. To get the evidence of delivery, use a registered mail to send the letter of dispute to the bureau. If the bureau does not take action on your letter, then use the delivery email you got after sending them the dispute letter as evidence against them. The law protects the consumers by ensuring that the bureaus investigate and remove unauthorized items from their credit reports.
You just need to know what to write, how to communicate it and who to send the request. You should be very careful with those companies who will charge you lots of money to remove an inquiry from your credit report. With some few learning, you can get your credit card fixed.
If you find it challenging to write the dispute letter, use the internet to help you. You can improve your credit score by downloading a credit repair guide from the internet. The guide will help you clear the credit inquiries. Consider hiring a credit repair company if you have other negative items on your credit report that need to be dealt with. This will save you the time and energy of directly dealing with the lenders.