How easy is it to get the credit bureaus to remove inquiries? How much do the inquiries bring credit ratings down? Is there a procedure for disputing inquiries? Is there a place to find out FICO scores?
RE: Inquiries and Disputes - F About as hard as pulling nails or getting blood from a stone. Of the three some individuals have claimed 'some' success with Equifax. Supposedly their is a possibility that the FCRA will be revised so that inquiries will only be listed for 1 year and that after a set time (60 days?) you can by demonstrating proof via the rejection letter have it removed (strange I thought this law was already in place), but considering the CRA's favor the current system (for a variety of reasons) and their laying out the fat bribes the odds of this passing are slim. As for how much inquiries harm you. If you believe the words on Fair Isaac's site then it can be no more than 10%. I prefer believing the numerous posts decrying that their FICO dropped a hell of alot more than that based soley on inquiries. It gets worse. Currently most creditors, especially credit card grantors, now judge you SOLEY on your credit report and in particular your credit score. In a nutshell this means that even if you have a perfect payment history for 20 years with a company, have never gotten so much as near the limit, never complained and shown the utmost loyalty, based SOLEY on a low credit score they will deny you a reduction in rate or other options and most likely jack up your rate to the sky or even cancel your card WITHOUT NOTICE.
RE: Inquiries and Disputes - F Now we wait for the 'apologists' for this UNFAIR system that I personally believe works for the enrichment of creditors at the direct cost of the consumer. The only question is next year when the CRA's start giving out individual credit scores will the creditors themselves finally admit outright "we are raising your rate because your credit score went down". My personal feeling is they believe that the backlash (both public and government) will be too great and will 'criminally' not do so. Especially companies such as First USA and Fleet which rarely have any justification in the first place and this will blow their illegal cover.
