4 Essential Steps to Successfully Removing Credit Inquiries
What practice you might want to consider doing from time to time, just so as to prevent a greater disaster ahead on your credit score is the removal of credit inquiries. You need a credit inquiry removal service such as that provided by inquiryremoval.io. There are several reasons why inquiries pop up on your credit report. Among which may include asking your credit card company for a credit limit increase, application for a loan for a car purchase or to buy a house, responding to a credit offer and much more.
It is important you are aware of the fact that they are two different types of inquiries, the hard pull Inquiries, and the soft pull inquiries. The soft pool inquiries happen in situations when there is an existing creditor that is pulling your credit in order to verify your financial situation or perhaps when a company purchases your information from any of the three credit reporting agencies or when you personally pull out your own credit report. Hard pull inquiries occur whenever you apply for a new credit card, a new credit limit or submission for a loan application, which is why you have to consider removal.
Step 1: Find out which credit inquiries are causing you problems.
In order to do this, you need to order your credit report from the 3 credit bureaus. Whenever they arrive, check through the reports and find the inquiries that are located at the end. See to it that you identify the inquiries that tend to be appearing to grantors. Some of these inquiries can be quite apparent while others can be somewhat a mystery, so you need to make sure that you note them down.
Step 2: Determine the address of each credit inquirer.
You can get this done by matching your Trans Union with your Equifax and your Experian reports or by contacting the credit bureau just so you can get a toll free number or an address to use. Whenever you have all the address then you can go ahead with step 3.
Step 3: Challenge the inquiry.
This is actually done by mailing out letters that question each and every inquiry that you find having issues. Demand for proof of authorizations and be sure to mail out each letter using certified mail return receipt. This way you can be sure to have paper trails showing proofs of the actions taken.
Step 4: Check and recheck.
Majority of the creditors tend to provide you with documentation with respect to the inquiry, while others reject the request. For the creditors that provide documentation, remember to go through the documentation for verification that you authorized the inquiry. If there is anything that is not clear, you can write again or make complaints regarding any problem that is questionable. For the creditors that refuse to provide you with documentation, this makes it very easy because not being able to provide proof of authorization leave them no choice but to take the inquiry down.
There is no doubt removing credit inquiry can be somewhat stressful and might indeed require some of your time. However, it is something that you can you can take into consideration as they can result in unexpected issues later on.