Anyway to ask a lender to removed an authorized inquiry?

Submitted by CMBV22 on Thu, 05/08/2008 - 09:10
Forums

I signed up for a second Credit card last year and obviously have an inqury from when they ran my credit. Is there anyway I can ask for them to erase their inquiry? Keep in mind that they apporved me and I still have the card :lol:

I have gotten many inquiries removed with this letter. I sent it to every company that had listed an inquiry on my credit and they all removed their lsitings. I just cant really send it to a company that I have an account with.....

your name
your address

CRA
CRA address

date

Re: Unauthorized Credit Inquiry

To whom it may concern,

I recently received a copy of my Equifax credit report. The credit
report showed a credit inquiry by your company that I do not recall
authorizing. I understand that you shouldn't be allowed to put an
inquiry on my file unless I have authorized it. Please have this
inquiry removed from my credit file because it is making it very
difficult for me to acquire credit.

I have sent this letter certified mail because I need your prompt
response to this issue. Please be so kind as to forward me
documentation that you have had the unauthorized inquiry removed.

If you find that I am remiss, and you did have my authorization to
inquire into my credit report, then please send me proof of this.

Thanking you in advance,

Your name

Fri, 05/09/2008 - 02:15 Permalink

Alot of the Inquiries I have are Pre-Screened things. ..credit cards, etc. I know some Inquiries actually 'fall off' within a certain amount of time. I just don't know when that 'time' happens to be.

Fri, 05/09/2008 - 02:53 Permalink
Anonymous (not verified)

I believe they fall off after 2 years and you can call this number (1-888-567-8688) or visit optoutprescreen.com to be removed from the pre screening lists. I Have not gotten around to it since they are soft hits anyway.

Sat, 05/10/2008 - 05:14 Permalink

EW. I forgot to log in before i posted that! LOL I read it and though, hey, that person copied my answer. EXACTLY!

I also have a more aggressivly worded inquiry letter if anyone needs it.

Sun, 05/11/2008 - 06:17 Permalink

Hi sdchargers_63

Credit inquiries usually come out of the credit report after two years. However if the customer is not willing to wait for two years, he may ask the creditor to remove the inquiry. You must challenge and see whether the creditor has privilege to pull up your credit file. If there is any ambiguity you can always threaten to contact the State Banking Commission if they don't remove an inquiry. Most of the creditors usually simply agree to delete the inquiry as they cannot verify the authorization.

Mon, 05/12/2008 - 10:02 Permalink

What if it's something you DID authorize? Does it still stay on for 2 years? Can you get it removed before that? I mean..someone from a Bank, CC company? 'hard Inquiries, I think they are called.

Thu, 05/15/2008 - 11:00 Permalink

You can try, but if it's legit, don't expect it to happen; creditors have little or no motivation to remove it. They have a minimal effect on the FICO after about a year anyway, and yes, they do drop off after two years.

Fri, 05/16/2008 - 14:04 Permalink

Yes; a hard inquiry drops your score approximately five points...for about a year.

Sun, 05/18/2008 - 04:27 Permalink

Yes it really could. Best to avoid them. Five points may not seem like much but like everything else they add up quick.

Sun, 05/18/2008 - 23:29 Permalink

Can someone answer this please? As 'hard inquiries' DO fall off your Credit Report, does your score go UPWARD!?

Sun, 05/18/2008 - 23:33 Permalink

As hard inquiries fall off the credit report, credit score should rise. Every hard inquiries takes off five points of the credit score and so it is wise to limit hard inquiries. As per FCRA only authorised inquiries should remain in your credit report and a person is entitled to $1,000 for each unauthorized hard inquiry.

Mon, 05/19/2008 - 06:36 Permalink

Scott,

Isn't it also true that after 1 year of the hard inquirys 2 year lifespan, The inquirys effect on your score lessens?

Mon, 05/19/2008 - 06:42 Permalink

I did some more research and found out that it seems to be true that Hard Inquirys loose their negative effect on your CR after 6 months to one year. Also, If you are shopping for a new car, home loan etc. The CRAs will consolidate those hard inquirys if you take a loan withtin 30 to 45 days *Different sources gave different time frames*

Tue, 05/20/2008 - 05:07 Permalink

Hard inquiries are made whenever we apply for a new credit and it remains on the credit report for 2 years. This inquiry is bad as it indicates your credit hungriness. However, if you do not want to wait for two years you can order all the three credit reports and find the addresses of the credit inquirers from the report. Now you send letters to these addresses asking them to remove the inquiry. Since FCRA allows only authorized inquiries to appear on the credit report, you can always ask the creditor whether he has proper authorization to pull up your credit file. If it is unauthorized you can threaten them that you may complain to the State Banking Commission if they don't remove the inquiry. In most cases the creditors remove the inquiry from the credit report.

I am not sure whether or not the effect of any hard inquiry lessens after one year until and unless it is removed from your credit report.

Tue, 05/20/2008 - 07:31 Permalink
jess (not verified)

I'm interested to know if anyone has had success asking creditors to remove authorized hard inquiries from their accounts. my husband had a median score of 705 before we started shopping to buy a home - after 12 months of searching and 3 letters of pre-approval (they expire after two months) we are no longer eligible for the same loan amount because his median score has dropped to 690. all inquiries were made by the same bank - bank of america - in order to furnish a letter of pre-qualification so that we could enter bids on properties. is this a scenario where the creditor, bank of america, might remove the hard inquiries from my husband's report?

Thu, 06/17/2010 - 21:16 Permalink

Hi jess,

Authorized hard inquiries cannot be removed before the 2 years. Whenever, you apply for a loan, or a new credit card the creditor/lender will pull your credit report,and this is authorized hard inquiry. The hard inquiries will fall off only after the 2 years.

However, another thing that you should keep in mind is that all inquiries made for mortgage lending, and auto loans generally within 14 days are held as a single inquiry by the credit scoring system. So, if the bank made the inquiries within 14 days, you can try disputing the several ones on the credit report.

Thanks,

Aaron

Fri, 06/18/2010 - 10:00 Permalink
crorkz (not verified)

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Tue, 08/05/2014 - 14:53 Permalink
Eunice (not verified)

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