How to remove hard inquiries from a credit report?

How to remove hard inquiries? The answer to this question is not simple. If you see a legal hard credit inquiry on your credit report, there is little you can do but wait. It will not affect your credit score after 12 months. Also, it will be removed from your credit record after two years.

However, if you discover a hard credit inquiry that you do not recognize, you must get it erased. It is due to several factors. For starters, it implies you’re being unfairly penalized for that inaccuracy, even if it has a minor impact. Second, it might be a symptom of fraud. Thus it’s critical to look into it further and have it deleted.

While removing a credit report item is not as simple as checking your email, it is not as difficult as it may appear. Here’s how to remove hard inquiries and repair your credit.

Quick Summary of How To Remove Hard Inquiries

Free Credit Report Checking

The first step is to get credit reports from all three credit bureaus—Equifax, Experian, and TransUnion. Often, the same information is recorded on all three, but this is not always the case, so it is critical to verify all three. AnnualCreditReport.com usually allows you to obtain your credit reports free once every year. You may, however, request free weekly credit reports until April 20, 2022, thanks to Covid-19.

Look for any inaccuracies in your hard inquiries. 

Once you’ve received it, there will be a section for “Hard Inquiries” on your credit report. You should go over the full report to ensure its accuracy, but pay special attention to the inquiry part. If any difficult questions are included here, make sure you recognize them.

It’s crucial to remember that the firm described as making the inquiry may not be the same as the one you did business with. It is common when a shop collaborates with a bank to run its credit card program.

File a Dispute

Incorrect hard inquiries might occur for two reasons. First, if you were looking for a new service, the provider might have examined your credit record without your knowledge. So, for example, if you’re looking for a new mobile phone provider and the firm performed a hard credit check without your knowledge or consent, you may be able to file a dispute.

Second, if you encounter a query that you don’t recognize, it might be an honest error or a fraud symptom. It’s critical to contact the listed firm to double-check. If it is a fraudulent inquiry, you might consider putting a credit freeze or possibly a fraud alert in place.

What is a hard inquiry?

When someone you intend to do business with, such as a lender, checks your credit report, this is referred to as a hard inquiry. They do this to assess the danger you possess as a possible borrower and how you’ve handled previous financial commitments.

A hard inquiry might lower your credit score by up to 5 points. While they remain on your credit report for two years, they only have a one-year influence on your score. You’ve probably heard of soft inquiries, which do not affect your credit score. Soft inquiries occur when you check your credit or when a lender or credit card provider sends you pre-approved offers in the mail.

How to remove hard inquiries from your credit report?

Dispute the hard inquiries

To dispute a hard inquiry, you must file a separate claim with each credit agency Equifax, Experian, and TransUnion that has inaccurate information. You can file online, over the phone, or by mail. The bureau has 30 days from the date of filing to settle your claim. You can dispute hard inquiries online, but it is usually better to do so in writing.

• Write a dispute letter.
• Send your letter by certified mail, return receipt requested, so you can document what the credit reporting company received.
• Keep copies of your dispute letter and enclosures.

When an invalid query is withdrawn, your credit score may increase somewhat. If you have numerous incorrect queries on your credit reports, your credit score will rise further. Place a credit freeze on your account if you see a lot of fraudulent activity on your report. It’s free and adds a layer of security; you may do it through each credit bureau.

After you’ve verified all of your information, you’ll be given a unique PIN. Any request for access to your credit report will require the PIN, ensuring that no hard queries are placed on your report without your knowledge.

Approach the creditor for the removal of the inquiry

Here are steps on how to remove hard inquiries from your credit report by approaching the creditor:

Begin with a letter asking for the inquiry’s removal.

Most creditors need your request in writing, so you can either mail or fax them a letter stating that you would like the inquiry deleted. Your letter must explain that you did not authorize the inquiry, and it should include all of your personal information, including your full name and social security number. In addition, have a copy of your credit report so they can see the inquiry. Also, keep a copy of the letter for yourself if there’s any confusion in the future.

Explain to them the reasons for which you would like it removed.

There are several reasons why an inquiry should be removed from your credit report, including:

• The inquiry is not relevant to you.
• It was not authorized by you or is a result of identity theft.
• The inquiry caused you financial harm.
• It is older than two years.

Be honest and straightforward about your request.

Honesty is the best policy, and it’s the first thing you should do when asking any creditor to remove inquiries. Be honest in your letter or conversation with your creditor. Explain why you want an inquiry removed and why you think they should honor this request. The more straightforward you are, the better the chances that you will get a removal.

“If someone is honest with me, I’m far more likely to help them than if they’re trying to hide something from me or manipulate me into doing something for them.” Creditors feel the same way about their customers being honest as well. They have no reason to honor your request if they believe you’re trying to manipulate them into helping you out for free. So be as honest as possible when asking creditors for removals, and it’ll make it much easier for them to say yes to your request.

Provide them with evidence of any circumstances that led you to be late on your payments and send them a copy of your credit report with the inquiry.

Next, you’ll have to provide the creditor with evidence of any circumstances that led you to be late on your payments. You should also send them a copy of your credit report with the inquiry. They can’t prove it wrong unless they know it’s there in the first place. If, for example, it was a paperwork error on their end that led to delinquencies being reported, make sure you actually have proof of this and show them why you don’t deserve a bad mark on your credit record. There are still some hard inquiries that cannot be removed.

Finally, explain any extenuating circumstances that led you to be late on payments—and tell the truth! Some legitimate reasons might include:

• Your car was stolen or broken down unexpectedly, and you didn’t have enough money to buy another one while paying off your debts.
• You were laid off and had trouble finding another job right away.
• You were hospitalized and couldn’t work for two months as a result (not a vacation).

If you get a rejection from the creditor, ask them why they didn’t remove it.

If a creditor rejects your written request, you can ask them to reconsider it. It’s helpful to provide additional information when you do this. If this does not work and the creditor still refuses to remove the inquiry, ask for a reason for the denial. If you are still unsatisfied, submit another request with any additional information they request on their form.

Submit another request with any additional information they request on their form.

Your case may be more potent if this creditor recently granted you credit and they didn’t ask for your permission to make inquiries. Of course, they aren’t required to get your permission, but some creditors don’t do it anyway. If this happened, explain that the inquiry was unnecessary because they had already granted you credit.

Submit again or consider other plans if you get rejected again by the creditor.

If your creditor still refuses to remove the inquiry, you always have the option to submit another request with any additional information deemed necessary. If you choose this route, include all of the requested information in your letter so that it is not automatically rejected for being incomplete. However, if you get rejected again after this second attempt, it may be time to consider other options.

You can write a letter to your creditor and ask them to remove an inquiry.

Your letter to your creditor should be short and honest and include a few points that may convince the creditor to remove the inquiry.

• Be honest about any credit problems you had in the past. Sometimes creditors will make an exception for inquiries made before a financial hardship. Including this information in your letter shows that you are open about your history, which is always a plus.
• Provide evidence of bad credit from that period. You can attach documents showing late payments or bills sent to collections during this period to prove your financial hardships further when you send the letter.
• Ask for the removal of inquiry with grace and respect. Asking politely and providing documentation of your experience will likely increase your chances of getting a positive response to your request.
• Submit more information if needed! If you are declined at first, don’t be afraid to submit another request with even more details on why they should grant it!

Ask the creditor to remove the inquiry after you have received an extension of the account or a loan.

An extension of a loan or an account is renewing the loan, granting of a line of credit or extending the credit. After you have received the extension of the account or the loan, ask the creditor to remove the inquiry from your credit report. 

If you have been denied credit, you can request the creditor to remove the inquiry if they agree to do so.

You can ask the creditor to remove the hard inquiry if they agree to do so. You can do this by sending a letter to the creditor. The letter should explain why you believe the inquiry was made in error. You should also provide documentation that supports your claim.

Document your efforts and record all correspondence with your lender. 

• The process of removing hard inquiries is simple, but it can be time-consuming and tedious if you go it alone.
• keep a record of all correspondence with your lender

Does removing hard inquiries increase credit score?

It is necessary to learn how to remove hard inquiries from your credit report. However, before that it is important to understand that whether removing them is worth your effort or not. If a hard inquiry has been on your credit report for less than a year and you contested it due to fraud, you may be able to gain a few points by having it erased—the more recent the investigation, the more points you have to gain. Gaining a few points may seem reasonable, but it is seldom enough to determine whether you are accepted or refused on future credit applications.

When a hard inquiry naturally comes off your credit report because it has hit the two-year threshold, your credit score will most likely be unaffected because hard inquiries do not affect your scores after one year.

What happens when a hard inquiry is removed?

Hard inquiries have little influence on your credit score. They usually only deduct a few points from your score and account for 10% of your FICO score. However, your credit score may increase slightly after an incorrect query is eliminated. If you have numerous wrong queries on your credit reports, your credit score will rise further.

How long does it take hard inquiries to fall off?

Hard inquiries remain on your credit reports for two years, but they only have a one-year impact on your FICO® Scores (the credit scores most often utilized by lenders).

A single hard inquiry has a minor impact, generally lowering your FICO® Score by five points or less. However, you may regain those points in months if you practice good credit practices like paying down debt and making all of your payments on time.

However, suppose you have numerous hard inquiries in a short period by asking for different forms of credit (for example, a credit card, a personal loan, and a vehicle loan). In that case, your scores may suffer a larger reduction.

FAQs

How do I dispute a hard inquiry?

If you’ve looked at your credit reports, you’ve probably found you’re not the only one. When you apply for a credit card, credit card companies and lenders look at your credit reports to determine your risk. Utilities use them to determine whether or not to charge you a deposit. Companies may investigate your credit history to offer things to you. Potential landlords and employers may do background checks to determine your dependability. Inquiries are kept on your report for two years, although not all of them have an impact on your score.

Can I dispute hard inquiries?

If you can’t find the cause for a hard inquiry or feel it was conducted without your permission, you can file a complaint online. If the credit bureau cannot certify that it is a valid query, it must erase it. In order to remove hard inquiries you can file a dispute.

Can you remove hard inquiries?

If hard queries happen without your permission, they can be deleted from your credit history. There might be instance when you were unaware that hard inquiries were being retrieved from your credit record, you have the right to request that the query be withdrawn. If the following conditions are met, you can withdraw a hard inquiry: the inquiry happened without your knowledge.

Conclusion

If you want to receive the best interest rates on loans and credit cards or, in certain situations, having strong credit is necessary if you want to get authorized at all. That is why it is critical to verify that all of the information on your credit report is current and correct. It may be accomplished by examining your credit report and credit score regularly.
While monitoring your own credit and other soft inquiries would not harm your credit score, hard credit inquiries will. With that in mind, be sure that you only apply for loans and credit cards required for large expenditures and that you are always in a financial position to repay them. The real question is how to remove hard inquiries from your credit report? The simple answer would be- you can easily remove them by following the above-stated procedure.