Once credit drops from being checked is the drop permanent?

You're right..your Credit Score DOES drop, a bit, when someone checks it. But, it DOES go up, again, as time goes on. However......the more you have Credit Inquiries ('Hard' Inquiries....lenders, car dealerships, etc.) the score will drop more. Hope this onformation helps.

How often should you be checking credit then...like once a year?

Takes about a year.

Hi,

Your credit score drops when you have your credit pulled and get denied for credit. These hard inquiries will stay on your credit report for 2 years. After that your score goes back up!!

Wow, that is a long time to have that on your credit report, is there anyway to remove these, I mean if they are going to deny you the credit it is like a double wammy on you. Your score falls and you don't get the credit anyway, that is not fair.

Does anyone have a letter that one could use to remove the hard inquiries off your report? If so, please share??????

I am not sure but maybe there is a letter in the sample letter available in the sample letter section of this site, has anyone checked there? Might be a good place to start, if not, it might be a good project for someone to do. Is anybody up to the task?

Hi c_ross
Marc is right, whenever a creditor checks your credit report, it gets listed there as a hard inquiry and it remains in the credit report for 2 years. However, as far as I know, these hard inquiries may lower your credit score to as much as 10 points.

But hard inquiries can be removed from the credit report only if it is unauthorized. I searched through creditmagic and found a sample letter for removal of hard inquiry. The link is http://www.creditmagic.org/letters/credit-inquiry.html . Hope this will help you.

I agree. Get as much people as you can to your website, You can do this in various ways, but the way I've seen work the best for me.

Apply for Credit Card

Hi,

Perfect, it seems you have all the help you need. Use the sample letter that the other user posted and get your hard inquiries removed. When getting into Credit Repair (that is what we are talking about) it is always a good idea to read the Fair Credit Reporting Act (FCRA)

If you any more questions let me know! Very Happy

Did I misunderstand or did the above post say you can get Hard Inquiries off ONLY if they are unauthorized? (I think?) if you inquire about your OWN credit, no points are taken off. Correct if I'm wrong, please.

I haven't looked at my credit lately. I'm tring to 'research' the different letters, on this forum to get ideas how I can 'proceed' with different items, on my credit.

I can't believe these inquires stay on for two years. Yes it sounds like you can only get them removed ikf you didn't ask for the credit check.

Hi fireyone
These hard inquiries do stay in credit report for two years and each of these hard inquiries reduces your score by five to ten points. But as far as I know, these decrease in credit score remain for six months to one year after that it increases.

Wow it still seems like such a long time especially if you have a low credit score. 10 points could really mean alot to a person.

Hi,

If you pull your own credit it doesn't lower your credit score, because this is not a hard inquiry. If somebody else pulls your credit (for example a mortgage broker) and you get denied for credit, this will count as a hard inquiry and will lower your score.

If you see hard inquiries on your credit report and you feel that they might not have been authorized by you, you can dispute them. This can be a successful method to get inquiries removed.

Nice to know we have some leverage. Someone on another post was just asking about hard pulls. A car lot ran his credit accidently. I told him to dispute so I am glad I got that right.

many times if you send a company a letter asking them to validate the inquiry they just remove it. Unless you have an account with them so it's really obvious they were allowed to pull your CR, They do it as a courtesy

How is it a courtest if you don't ask to have it pulled and it deducts points from your score? Do they automatically have the right to pull you CR if you have an account with them.

Yes some companies will pull it every so often, some credit card companies will raise your rates if you credit falls below a certain score, they consider you a credit risk. Funny huh?

No more like ridiculous. If you are in good standing with them and make all your payments on time where do they get the right to raise your rates? This is how the credit card trap starts and then yolu forever remain a victim.

A lot of senior citizens really got the shaft in this, they were on the news saying that their rates were raised after their credit report was reviewed, they live on a fixed income and can not afford this, they end up closing their accounts and paying them off because of it. I think that is what people should do and then maybe the credit card companies would rethink their methods.

They aren't going to rethink a method that is buttering their bread. I am paying off all mine and baking my own bread from now on. I may as well put the interest money I would be paying in the bank and watch it rise. It makes me sick to thin of what these companies and their billiions of dollars do to the older folks. They should invest a little back into the society.