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How To Remove Inquiries From Your Credit Report
By chiara MONEY RESEARCH COLLECTIVE
There are two types of credit inquiries that you may encounter as you enter the credit marketplace. Soft inquiries (also known as soft pulls) occur when a lender pre-qualifies you or requests a limited credit file in order to send you pre-screened or pre-approved offers. These inquiries don’t appear on your credit report and won’t affect your credit score.
The other type is a hard inquiry (also called a hard pull), which occurs when you’re actively applying for certain personal finance products or services. These are added to your credit report and can affect your credit score for a period of time.
Let’s talk about how you can remove those hard inquiries from your credit report.
Table of contents
- What are inquiries on your credit report?
- Is it possible to remove inquiries from your credit report?
- How can I get inquiries removed from my credit report?
- How long does it take to remove inquiries from a credit report?
- Pros and cons of removing inquiries from your credit report
- How to remove inquiries from my credit report FAQs
- Summary of how to remove inquiries from my credit report
What are inquiries on your credit report?
Any time you apply for a new credit account — such as an auto loan, a mortgage, a credit card or a line of credit — you can expect the potential lender to pull your credit report. A credit pull is a process that involves requesting a copy of your complete credit history from one or more of the three credit reporting agencies (Experian, Equifax and TransUnion).
A hard pull is also known as a hard inquiry, and should only occur with your explicit approval. A record of this request is added to your credit history to show that you were applying for new credit. This inquiry notation will stay on your credit report for up to two years; depending on the credit scoring model used (FICO score, VantageScore, etc.), most inquiries will affect your credit score for up to 12 months.
If you apply for a loan or try to open a new account, the lender may check your credit score and look at how many credit inquiries you’ve had recently. Too many inquiries in a short period of time can be viewed as a red flag, as it may sometimes indicate that a borrower is financially unstable or suddenly needs credit.
Is it possible to remove inquiries from your credit report?
It is possible to remove inquiries from your credit report, whether you want to boost your credit score or just limit the appearance of too much credit shopping. However, there are really only two instances where inquiries can be removed from your credit report: if they are inaccurate hard inquiries or if they age off. Removing legitimate hard inquiries is all but impossible.
How can I get inquiries removed from my credit report?
Having a good credit score is essential to obtaining loans, credit cards, housing and even some job opportunities. Therefore, it’s essential to ensure that your credit report accurately reflects your financial standing. Unfortunately, sometimes, erroneous inquiries can appear on your credit report, negatively impacting your score. Here are ten steps for how to get items removed from your credit report.
1. Obtain free credit reports annually
The first step in removing inquiries from your credit report is to obtain a free credit report from each of the three major credit bureaus: Experian, Equifax and TransUnion. According to the Federal Trade Commission, you’re entitled to one free credit report per year from each bureau, available at annualcreditreport.com thanks to the Fair Credit Reporting Act
2. Identify errors and inconsistencies
Once you’ve obtained your credit reports, carefully review them for any errors or inconsistencies. Look for inquiries from companies you don’t recognize or any other errors that may have occurred. You could have also been the victim of identity theft, leading to a credit freeze with your credit card issuer.
3. Correct errors to build credit fast
If you find any errors, correct them immediately, as they can negatively impact your own credit score. Contact the creditor or the credit bureau to dispute the error and have it removed from your report. Doing so can help you build credit fast.
4. Regularly monitor your credit report
It’s a good idea to monitor your credit report regularly to ensure that it accurately reflects your financial standing. You can obtain a free credit report every year, but you may also choose to pay for credit monitoring services for more frequent updates.
5. Understand credit score calculation and factors affecting your score
To improve your credit score, you need to understand how it’s calculated and what factors affect it. Factors like payment history, credit utilization, length of credit history and types of credit accounts all contribute to your score.
6. Implement strategies to improve your credit score
Once you know what factors affect your credit score, you can implement strategies to improve it. For example, paying your bills on time, reducing your own balances with credit card companies and opening new credit accounts responsibly can all help improve your score.
7. Consider credit counseling and debt management programs
If you’re struggling with debt, consider seeking the help of a credit counselor or a debt management program. These services can help you create a budget, negotiate with creditors and develop a plan to pay off your debts.
8. Learn how long hard credit inquiries stay on your credit report
Hard inquiries remain on your credit report for up to two years. They can negatively impact your score for the first year but will have less of an impact in the second year.
9. Request removal of erroneous inquiries
If you find an inquiry on your credit report that you don’t recognize, contact the creditor or the credit bureau to request its removal. You’ll need to provide proof that the inquiry was unauthorized or fraudulent.
10. Take steps to dispute errors with the credit bureaus
The good news is you can dispute credit report errors with the relevant credit bureau. Each bureau has an online dispute portal or a mailing address where you can send a dispute letter.
For Experian, you can use their online dispute portal or send a dispute letter to Experian, P.O. Box 4500, Allen, Tx 75013. For Equifax, you can use their online dispute page or send a dispute letter to Equifax Information Services, LLC, P.O. Box 740256, Atlanta 30374. For TransUnion, you can use their online dispute page or send a dispute letter to TransUnion Consumer Solutions, P.O. Box 2000, Chester, PA, 19016.
How long does it take to remove inquiries from a credit report?
The time it takes to remove inquiries from your credit report depends on the process you use to remove them.
Credit inquiry removal can take anywhere from a couple of days to a few weeks if the credit dispute is accepted. Some credit bureaus may temporarily remove the disputed record while an investigation takes place, and during that time your credit score may momentarily increase.
If you want (or need) to just wait for an inquiry to age off of your credit report, you’ll be waiting for two years. Though other reports (like your payment history) age off in seven years, inquiries only stick around for two. Not only that, but they’ll only affect your credit for up to 12 months.
Pros and cons of removing inquiries from your credit report
Pros of removing inquiries from your credit report
There are definitely some benefits to removing inquiries from your credit report.
- Your score may improve. Hard inquiries will depress your credit score for the first six to 12 months. If you have them removed before then, you may see a quick boost in your credit score.
- You may boost your creditworthiness. Too many inquiries in a short period of time can make you seem like more of a risk to lenders. When these inquiries are removed, lenders may be less wary about approving you for credit.
Cons of removing inquiries from your credit report
Since inquiries can only be removed from your credit report in a handful of situations, it’s not a very common occurrence. Going through the process does have some downsides, though.
- Disputes require time and energy. Though you should be conducting credit checks regularly to look for errors, actually disputing the erroneous records you find can be arduous. To remove unauthorized hard inquiries, you’ll need to file a formal dispute and may also be asked to provide evidence of the error.
- Waiting for inquiries to age off can take years. In the absence of an error, inquiries can only be removed from your credit report with time. These will generally age off of your credit history in just two years, but that can feel like a long time in the interim.
How to remove inquiries from your credit report FAQs
What is the fastest way to remove inquiries from a credit report?
The fastest way to remove hard inquiries from a credit report is to file a formal dispute. Credit bureaus will sometimes remove the disputed record right away while they conduct an investigation, at which time it will either be reinstated or removed permanently. Even if the inquiry isn't removed right away, the investigation process can be as quick as a few weeks or even just days.
This should only be done if the inquiry in question is being reported in error. If you approved the hard pull, your dispute will be declined and the inquiry will stay on your credit.
Will removing inquiries increase my credit score?
Not sure how to fix your credit? Credit inquiries that fall off or are removed from your credit report can boost your score overnight.
How can I get inquiries removed from my credit report in 24 hours?
The only way to get hard inquiries removed from your credit report in a single day is to dispute them as errors. If, while viewing a copy of your credit report, you find a hard pull that wasn't authorized or was requested by a creditor you don't know, filing a formal dispute can be one way to get them off of your credit for good. The credit bureaus may even remove the inquiry immediately while conducting their investigation.
In recent years, credit bureaus have automated and streamlined the dispute process. One of our editors recently disputed an entry on his credit report and received a decision about the disputed item the same day.
How much do credit inquiries affect your credit score?
Credit inquiries can affect your credit score, but the impact depends on several factors. Typically, a single hard inquiry may lower your score by a few points, but the impact is usually minimal and temporary. However, multiple hard inquiries in a short period may suggest that you're seeking credit frequently, which could be a red flag to lenders and have a more significant negative impact on your score.
On the other hand, soft inquiries, which are made by yourself or companies you already have a credit relationship with, do not affect your credit score.
Are hard inquiries considered derogatory?
Hard inquiries are considered derogatory as they indicate that you have recently applied for credit, and the creditor had to pull your credit report. This may suggest that you're taking on more debt or credit than you can handle, which could negatively impact your creditworthiness in the eyes of lenders. Therefore, it's essential to be mindful of the number of hard inquiries you have on your credit report and to only apply for credit when necessary in order to have the best credit possible.
Summary of how to remove inquiries from your credit report
Hard inquiries don’t make up a large percentage of your credit history, but they can be one more hurdle in your path to excellent credit and perceived creditworthiness. These reports stay on your credit for up to two years and can affect your credit score for six to 12 months. There are really only two ways to remove inquiries from your credit report: wait for them to age off or, if they are erroneous, file a formal dispute with each of the credit bureaus. This is the fastest and most surefire way to correct your credit history and boost your credit score. However, if you don’t have the time to dispute inquiries on your own, you could always consider utilizing a credit repair company.
