Delete Inquiries On Your Credit Report
By Kathy Kennebrook
Like it or not, having inquiries on your credit report can get you turned down for a loan approval or a credit card. You have no idea how many times banks will write a rejection letter saying that you 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 credit score is lowered. And a lower credit score also means you will end up paying a higher interest rate on your credit lines, which could cost you thousands of dollars over time.
In fact, many business and personal credit line services that 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 credit inquires? The bureaus may tell you the propaganda that inquiries cannot be deleted, they are permanent, and stay on for months, even years. But this is simply not the truth. There are specific ways to remove credit inquiries the bureaus don’t want you to know about.
Write the Credit Bureaus a letter. If a credit inquiry is truly unauthorized, they will have to contact the creditor and ask for them to prove the existence of the inquiry. Most will not have the time, or documentation to prove it, and the inquiries will just fall off. Beware of disputing inquiries pertaining to an open credit line. These could cause you problems. But if inquiries resulted from “shopping” for credit, these are fairly easy to remove.
You could file a fraud alert and dispute credit inquiries as fraudulent. Be careful of this as well, as your file will then be very closely scrutinized by higher paid credit bureau staff, which can be to your disadvantage.
“Bump” your inquiries off with TransUnion. For example, subscribe to a credit monitoring service such as creditchecktotal.com that allows you to check your credit daily with updates. These updates are “soft pulls” on the TransUnion bureau. They don’t count as credit inquiries that other people see that would affect your score, but they are added to the record. Enough of these soft inquiries maxes out the record, and eventually bumps off the credit inquiries seen by all. It takes approximately 60 soft pulls. But you can cut the time in half by subscribing to multiple services that allow you to check credit inquiries daily.
Note that deleting credit inquiries years ago was much faster and easier than now, as bureaus have tightened up in their practices. TransUnion appears to be the most difficult to work with at this point in time, and takes the longest to see results by mailing letters. Equifax and Experian are pretty fast by comparison.
You can also hire an expert to delete credit inquiries for you. You may pay as much as $150 or more per inquiry to an attorney for deletion but the money you would pay an attorney would be quickly recouped by the credit lines you could get approved for after the credit inquiries were deleted. No provider can guarantee all inquiries will be deleted, rather, on a “Best efforts” basis.
Some experts use proprietary online and offline tactics to get inquiries deleted quickly and professionally. Their costs are some of the most reasonable and they are very responsive and professional. This should give you a better overview and more hope for your credit report.
Although the bar has risen for credit, banks still have plenty of money to give you, and if you can tap this vault, you will have an advantage that will help you make a fortune because you can buy assets at such an incredible discount. Getting credit inquiries deleted and getting the credit lines you need to survive and prosper in this economy can make all the difference to your success.
For more information simply go to Kathy Kennebrook’s website at www.marketingmagiclady.com and check under Kathy Kennebrook Products for Guerilla Tactics To Improve Your Credit Score, You’ll be glad you did.