Guest hutch0170 Posted April 13, 2008 Report Posted April 13, 2008 Im new at the credit thing.I have 5 accounts all in good standings never late but i have alot of inquirys on my report.Is there any way i can get them off so my score will go up?
AboveAverage Posted April 13, 2008 Report Posted April 13, 2008 Im new at the credit thing.I have 5 accounts all in good standings never late but i have alot of inquirys on my report.Is there any way i can get them off so my score will go up?(Sigh...........)Do a search on INQ, *b, bumping, truecredit, chaseidprotection. There is a HUGE thread on getting rid of EQ Inqs that's being ironed out. I wrote a nice thread on getting rid of EX INQs, and the TU INQs you will need bumping.I would advise not heeding anything said about "It takes 2 years to get rid of your inqs", "It's illegal to remove your INQs before the 2 years", "Bumping does not work", etc. 1
willingtocope Posted April 13, 2008 Report Posted April 13, 2008 (Sigh...........)I would advise not heeding anything said about "It takes 2 years to get rid of your inqs", "It's illegal to remove your INQs before the 2 years", "Bumping does not work", etc.(Even bigger sigh...)Since I am the one who has tried to take on the voice of reason, let me just pop in here and get it over with.Bumpage is an urban myth. The Credit Reporting Agency Professional Operators Legal Association has specifically included wording in the terms and conditions of their web sites that says that the reports you receive via those sites "is not intended to comply with the FCRA). Therefore, what they show YOU is that by making "soft" inquiries of your own via those site, other "hard" inquiries appear to drop off your credit reports. The "rest of the story is"...what you see via the CRAPOLA "credit monitoring" site is NOT what someone who is actually thinking about lending you money would see if the pulled your reports via the actual paying customer method.Save your money. Don't worry about "inquiries". They hurt less with age, and will fall off your REAL reports after one year.
AboveAverage Posted April 13, 2008 Report Posted April 13, 2008 Bottom line, OP, when an INQ is bumped off due to sites like truecredit, chaseidprotection, etc, it is not viewed by a report pulled by a creditor you gave permissible purpose to. I have friends who are mortgage brokers who proved this to me and were able to give me a FICO score that was more or less the same as the scores I would see on myfico.com (there was a variation, but not much). Others have said the same thing and there are many threads where our resident gorilla and the rest of us go back and forth on this particular issue.
willingtocope Posted April 13, 2008 Report Posted April 13, 2008 I have friends who are mortgage brokers who proved this to me and were able to give me a FICO score that was more or less the same as the scores I would see on myfico.com (there was a variation, but not much). Others have said the same thing and there are many threads where our resident gorilla and the rest of us go back and forth on this particular issue.Sorry. Mortgage brokers get the CRAPOLA reports (it costs less). Mortgage underwriters...the people that will actually lend you the money...see the real ones. Really...if it makes you feel better...go ahead and spend the $10 or $20 or $30 a month for the right to bump your CRAPOLA reports online. By the time you hit the magic number of 64 or 100 bumps, enough time will have passed that any "ancient" inquiries will either have disappeared in due course, or will have little effect on your FAKO scores anyway. All you be out is the couple hundred bucks you payed to the CRAPOLA scammers...
AboveAverage Posted April 13, 2008 Report Posted April 13, 2008 Sorry. Mortgage brokers get the CRAPOLA reports (it costs less). Mortgage underwriters...the people that will actually lend you the money...see the real ones. What about credit unions? Banks? I trust they qualify as "the people that will actually lend you the money"?
willingtocope Posted April 13, 2008 Report Posted April 13, 2008 Banks, certainly. Credit unions? Maybe. They're usually locally owned and operated and it depends upon local management.
betam4x Posted April 14, 2008 Report Posted April 14, 2008 Funny that my bank pulled my credit report when applying for an auto loan, they provided ME with a copy and the inquiries weren't there. B* is NOT an urban myth. Not by a long shot. Those saying it is are likely paid by TU to spread misinformation, etc. Sounds ridiculous? so does the whole 'that isn't your real credit report' theory. FYI, if the CRAs weren't providing the complete copy of the credit report, they'd find themselves in a load of trouble.
AboveAverage Posted April 14, 2008 Report Posted April 14, 2008 Funny that my bank pulled my credit report when applying for an auto loan, they provided ME with a copy and the inquiries weren't there. B* is NOT an urban myth. Not by a long shot. Those saying it is are likely paid by TU to spread misinformation, etc. Sounds ridiculous? so does the whole 'that isn't your real credit report' theory. FYI, if the CRAs weren't providing the complete copy of the credit report, they'd find themselves in a load of trouble.The People rest, Your Honor.
LoveToGod Posted April 14, 2008 Report Posted April 14, 2008 (Even bigger sigh...)Since I am the one who has tried to take on the voice of reason, let me just pop in here and get it over with.Bumpage is an urban myth. The Credit Reporting Agency Professional Operators Legal Association has specifically included wording in the terms and conditions of their web sites that says that the reports you receive via those sites "is not intended to comply with the FCRA). Therefore, what they show YOU is that by making "soft" inquiries of your own via those site, other "hard" inquiries appear to drop off your credit reports. The "rest of the story is"...what you see via the CRAPOLA "credit monitoring" site is NOT what someone who is actually thinking about lending you money would see if the pulled your reports via the actual paying customer method.Save your money. Don't worry about "inquiries". They hurt less with age, and will fall off your REAL reports after one year.I know the disclaimer is there, but it does work. Let me tell you how I know. I have disputed things on TransUnion and Equifax and they send me results in the mail usually with updated copies my credit report.When I get my updated credit reports I compare int inquiries on it with those that I have retrieved online, and it is consistent. On TU I went from 26 down to 11 inquiries.On EQ I went from 56 down to 35 inquiries.What is my verification for this? It is my updated credit reports that come in the mail. Bumping does work, but it takes time. I have been doing it for about 3 weeks now.
LoveToGod Posted April 14, 2008 Report Posted April 14, 2008 R will have little effect on your FAKO scores anyway. All you be out is the couple hundred bucks you payed to the CRAPOLA scammers...You know I don't any lender out there that actually goes by your FAKO score. That is why I only care about the FICO. Look at my signature line. I know for mortgage it is the FICO that matters.
Amerikaner83 Posted April 14, 2008 Report Posted April 14, 2008 OK guys, let's give this a rest.Willing will never be convinced of Bumpage working or not. We can try and convince him, but we'll all just have to agree to disagree on this one, ok?And Joseph - the FICO you pull is DIFFERENT than the exact FICO your mortgage lender will pull.
LoveToGod Posted April 14, 2008 Report Posted April 14, 2008 OK guys, let's give this a rest.Willing will never be convinced of Bumpage working or not. We can try and convince him, but we'll all just have to agree to disagree on this one, ok?And Joseph - the FICO you pull is DIFFERENT than the exact FICO your mortgage lender will pull.Really? Is that always the case? Is there a way to see the FICO they pull?
Amerikaner83 Posted April 14, 2008 Report Posted April 14, 2008 yes, it is, and NO there is not. Unless you get a copy of the FICO and report that they pull.
AboveAverage Posted April 14, 2008 Report Posted April 14, 2008 OK guys, let's give this a rest.Willing will never be convinced of Bumpage working or not. We can try and convince him, but we'll all just have to agree to disagree on this one, ok?And Joseph - the FICO you pull is DIFFERENT than the exact FICO your mortgage lender will pull.I'm cool with shutting the heck up about this if he is. My whole thing is he should not stating something as fact when it isn't and then dressing it up with legalese to confuse newbies and other folks and then having the last word because of his mod status (never said it was explicit, but most certainly can be implied). I say this with all due respect and trust that you see it as such. 1
Amerikaner83 Posted April 14, 2008 Report Posted April 14, 2008 I'm cool with shutting the heck up about this if he is. My whole thing is he should not stating something as fact when it isn't and then dressing it up with legalese to confuse newbies and other folks and then having the last word because of his mod status (never said it was explicit, but most certainly can be implied). I say this with all due respect and trust that you see it as such.Yes absolutely. but know that NONE of the mods or admins here exercise their "mod powers" in order to have the last word on anything. In fact, I've seen it happen on other forums and it's not pretty. Just because someone has "moderator" next to their name, or a higher amount of posts than someone else does not make them better than anyone else, and I think that all of the mods here are, for the lack of a better term, as "fair and balanced" as we can be.
AboveAverage Posted April 14, 2008 Report Posted April 14, 2008 Yes absolutely. but know that NONE of the mods or admins here exercise their "mod powers" in order to have the last word on anything. In fact, I've seen it happen on other forums and it's not pretty. Just because someone has "moderator" next to their name, or a higher amount of posts than someone else does not make them better than anyone else, and I think that all of the mods here are, for the lack of a better term, as "fair and balanced" as we can be.So have I and it's definitely not cute. I have always trusted that crap never happens here and that's why I wrote my parenthetical phrase in my last post. We do need something definitive on the bumpage issue though. Otherwise these debates will always pop up.
TTigggers Posted April 14, 2008 Report Posted April 14, 2008 Yes absolutely. but know that NONE of the mods or admins here exercise their "mod powers" in order to have the last word on anything. In fact, I've seen it happen on other forums and it's not pretty. Just because someone has "moderator" next to their name, or a higher amount of posts than someone else does not make them better than anyone else, and I think that all of the mods here are, for the lack of a better term, as "fair and balanced" as we can be.Very well put.The Mods here are much better than at some other forums.Except for that Post whore of course.
Amerikaner83 Posted April 14, 2008 Report Posted April 14, 2008 I know. But I'm not so sure there IS anything definitive. Someday (soon, probably) there will be no more bumping.
TTigggers Posted April 14, 2008 Report Posted April 14, 2008 I know. But I'm not so sure there IS anything definitive. Someday (soon, probably) there will be no more bumping.I'm sure the time will come.
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