Can someone explain to me what a permissable purpose inquiry is? Another words, is this supposed to be something I authorized? Is it a hard inquiry? How can I get companies to stop putting inquiries on my report???? These are damaging my credit scores.
Permissible purpose means that whoever is reviewing your credit report has good reason to do so. For example when you apply for credit, an account review by an existing creditor, a financial institution that is considering offering you credit (pre-approved), when you apply for employment or insurance in excess of a certain dollar amount. As for are they hard or soft it all depends. An existing creditor that does a review of your credit profile will be listed as AR - account review, which is a soft inquiry. It all depends on the circumstances. Manny
