Need Inquiries Removed From Your Credit Report?
We can help to remove hard inquiries from your credit reports. In many cases we have found that many of our clients have hard inquiries on their credit reports that they never authorized. Hard inquiries can stay on your credit reports for up to two years and can negatively effect your credit scrore.
What is a hard inquiry?
Hard inquiries occur when a financial institution, such as a lender or credit card issuer, checks your credit report when making a lending decision. This normally takes place when you apply for a new credit card, a bank loan, or for a new car. Hard inquiry have a negative impact on your credit report and your credit score. Each hard inquiry can cost you between 3-7 points on your credit score.
What is a soft inquiry?
Soft inquiries do not effect your credit score. A soft inquiry, also known as a “soft pull”, generally occurs when a person or company does a background check, pre-approvals for credit card offers, and checking your own score. For example, if you receive a solicitation in the mail offering you a credit card, the credit card company has most likely conducted a soft pull to see if you qualify. A pre-approval offer from a mortgage company generally entails them performing a “soft pull” to see if you qualify. It is not uncommon for a potential employer to pull your credit as part of their background check process. Most of the time, you do not even know when they occur, and they do not affect your credit report or more importantly, your credit score.
Trying to figure out what type of inquiry will be placed on your report?
Hard vs. Soft Inquiries
|Type of Request
||Hard Inquiry||Soft Inquiry|
|Mortgage||Yes, for actual loan||Yes, for pre-approval|
|Credit Card||Yes||Yes, for pre-approval|
|Credit Line Increase||Usually|
|Credit Card Pre-Approval||No||Yes|
|Checking Your Score||No||Yes|
Before making an application, always ask if the inquiry will result in a hard or soft pull on your credit report.