Ok, there is another question. Just please be patient with me while I take my notes and learn how to read and understand my credit report/scores. What are too many inquiries? Is there such a thing as good inquiries? Are all hard inquiries a bad thing? EQU - 16 EXP - 11 TU - 12 Believe it or not only 13 in total are due to drop off this year.
This is a lot of inquiries, one or two a year is generally the "acceptable amount". Inquiries only effect your credit score if within the last 12 months, but they are visible to lenders for two years. The exception is "shopping inquiries", if you are shopping mortgages or auto loans, and compile 3-4 within a week or two, those are rolled up into "1" inquiry (as far as your credit score). Too many inquiries look lke your "desperate for credit", and it is a danger signal to creditors. This amount also hurts your credit score. Are you sure these are "hard"inquiries? Are these under the "public" inquiries, your credit report will state these are visible to reviewers of your report.
if thirteen drop off this year that's a good thing. But, you need to find out why you are getting so many. There are only so many permissable purposes (reasons you can get a hard inquiry). Usually, you have to apply or give permission. Seems kind of odd, unless some didn't drop off on time. They are only allowed to be on for two years. Are there any older than that on your report?
A couple of the CRA's, EQ and TU, will freqently allow consumers to dispute inquiries they believe to be improper or illegal.
Do you recognize the parties that are making the inquiries? Are they companies that you applied for credit to?
some I do reconize and some I don't. is there any way to have the ones I don't reconize removed before the 2 years are up?
You can dispute inquiries with the CRAs, but you must do it in writing directly to them. If you do dispute, make sure you put in language that you dispute the inquirier had "permissible purpose for inquiry", and specifically ask for permissible purpose given to CRAs. Do you know if any of these inquiries were "Collection Agencies", this may be a sign of some things to come on your report.
I can't say for certain that they aren't collection agencies BUT I can say for certain that I have paid all my bills on time since 2001. All the collection accounts that "were" on my credit report is EVERYTHING I have not paid in the past. I have not a missed a payment on anything since 2001......well except for that new alert recently............but believe me that is the last. I added a block to my credit reports so no inquiries can be added without my permission. I also called and was able to give the 3 CRA's a password to use for phone verification whenever requesting any kind of credit.
Sorry to disgree with a senior member, bizwiz, but TU and EQ most definitely do not require written requests to investigate inquiries. Both will accept telephone calls from the report owner.
Does it matter if I dispute them all at once? Should I dispute all of them on each report or some of them from each report?
