Frequently, when doing credit counseling, I look at a credit report which is full of pot holes: collections, late pays and charge-offs. Sadly, the initial focus of the client is on removing inquires.
Sure, the removal of inquiries is pretty easy. But it will have a pretty small effect on the client’s score. The client with this kind of credit report has bigger fish to fry rather than working on inquires. I always suggest focusing on the biggest bang for the buck (listed in order of importance) FIRST:
- Paying down balances
- Disputing negative items with the credit bureus
- Removing collections (using debt validation, pay for delete, or dispute with information furnisher)
- Removing late pays on credit cards, mortgages. See the credit repair method.
Once you deal with these items, then I’d say you can work on the inquires. Or if your credit report is fairly clean, but you have a ton of inquiries (more than 10), then I’d say a little effort towards removing them is a good idea.
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I was wondering when you said removing inquires is pretty easy would it be best to contact the credit agencies directly and dispute with registered letter or with eqifax,Esperian and transunion.
This is ture and I often hear this from credit repair specialists. But as loan specialist I know that many auto qualifying systems will boot a quick and easy approval with too many inquries.
The idea of having good credit is getting approved.
I can’t speak for many customers of credit repair but for my clients score is easy. Getting approved quickly and automatically is key.
GREAT INFO… Thanks
I think it is VERY important to get inquires removed from you credit report cause you will be denied if you have to many so YES work on your INQUIRES to be removed also THE……
GIRL if you can’t give anyone good advises they PLEASE don’t post YES people remove your inquires at the somethime lenders do look at that first also
I’ve found that inquiries count about 3 points each on the credit report – I just had 4 deleted and my score climbed about 12 points with no other changes. It is often said that inquiries that occur within the same type of industry and within 14 days of each other are counted as only one inquiry, so for example, people wouldn’t get hurt by submitting credit aps to several auto dealers when shopping best deals on a car. However, I have not found this to be the case – all my inquiries seemed to count against my score. If the “multiples counting as one inquiry” theory were true, I would have only seen my FICO score raise about 6 points since three of the four deleted inquiries were from car dealerships within the period of one week. I believe ALL inquiries affect the score and have yet to see the other theory proven.
I have been trying to delete inquiries from all the bureaus and have removed all from Equifax but Experian and Trans Union WILL NOT remove any of them. Does anyone have a good strategy for getting inquiries removed from those other 2 bureaus?
I have a collection agency inquiry on my report and nothing is/was in collection at the time of the inquiry. What’s up with that and how can I stop these arbitrary inquiries? Should I do a fraud alert?
What about inquiries that are over 2yrs old? And why are some for example stating to be removed 2/2009 when the inquiry appeared 1/2007. Why a month later?
Thanks
Removing inquiries are fine. I’m just pointing out that you might concentrate your efforts on bigger “baddies” on your report than inquiries. . Stuff like removing collections has a bigger positive effect than the removal of in inquiry.
HOW DO I GO ABOUT REMOVING INQUIRIES FROM MY CREDIT HISTORY?
Follow the link in the first paragraph of this blog post and you will see how to remove inquiries.
Kristy,
Does it matter to put the date of the inquiries in the letter ?
Would you send me your contact info?
Thank you