I haven't realized that credit inquiries are actually part of the credit report. WHen I turned 18 I applied to a lot of on-line credit cards applications. I finally managed to get a MBNA credit card> I always charge a lot on in and pay it of in full but when I tried to get another credit card I was denied because of excessive number of credit inquiries. Is there any way I can remove this inquiries, other than waiting 2 years? Thanks, Roland
Roland-- According to Fair, Isaacs (the major credit scoring firm) inquiries represent 10% of a credit score so you should not overemphasize their importance. While inquiries remain on the report for two years, older ones become less important over time. Waiting 6 months before making another application should minimize the effect of too many inquiries. Also, you might want to carry a balance from time to time because your credit report may be showing a zero balance or low balance when MBNA reports making to seem you are not using the card as much. Also, some people contributing to this board have the sense that carrying a balance results in getting higher credit limits which also improve the score since you have a better ratio of credit used to available credit.
