and Stefan Kasian PHD
Like it or not, having inquiries on your credit report can get you turned down for a loan approval or credit report. I’ve applied for credit for years for myself and my clients, and I can’t tell you how many times a bank wrote a rejection letter that we were turned down for a credit card “because of excessive inquiries.”
No matter what a creditor tries to convince you of otherwise, inquiries DO lower your credit score. Granted, some mortgage companies, for example, only consider your most recent inquiries for past 3-6 months. The more you have, and the more recent you have them, the more your score is lowered. And a lower score also means you will end up paying a higher interest rate on your credit, which could cost you thousands of dollars over time.
In fact, many business and personal credit line services who specialize in obtaining credit lines for their customers won’t even touch you if you have more than 2-3 inquiries per bureau.
But how do you delete inquires? The bureaus may like to tell you the propaganda that inquiries cannot be deleted, they are permanent, and stay on for months, even years.
Nothing is farther from the truth. Based on years of trial and error, Kathy Kennebrook and I have uncovered some of the best ways to remove inquiries.
Follow up next week for all the information you need on deleting inquiries from your credit score. In the meantime checkout Kathy Kennebrook’s website at www.marketingmagiclady.com for all of the tools you need for your Real Estate Investing Business. While you are there sign up for Kathy Kennebrook’s free newsletter and receive 149.00 of real estate investing tools absolutely FREE!!!