Credit Cards

[laryn41]

Do you call the company or the credit card ot get the inq taken off?

[bamagirl1]

why are you asking? you can dispute an inquiry w/the credit bureau, but why are you disputing it? i've read/heard inquiries are hard to get taken off though

[TheNewWorldMan]

Hard inquiries are seldom worth the time and energy to have removed. They're just not that big of a score factor.

[cheddar]

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laryn41 wrote:

Do you call the company or the credit card ot get the inq taken off?

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On what grounds are you wanting it removed?

[oracles]

i am thinking of asking citimortgage to remove a hard inq for a heloc i wanted but decided not to do it. I hope they will remove it.

[laryn41]

I thought that they are a big part of your score factor, plus they stay on for 2 years...

[mrscharlie]

Ummm, it sounds like they still had PP for an inquiry.  I don't think they will remove it because YOU didn't want the LOC, but good luck anyway.

[bamagirl1]

but it only counts in your score for 1st 12 months, but wont' drop off until 24 months

[llecs]

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laryn41 wrote:

I thought that they are a big part of your score factor, plus they stay on for 2 years...

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Nope. If anything, they are a very tiny factor.

I recently went from 0 to 1 inquiry on TU and didn't see a single change in score. Of my last 10 inquiries on EX, there were no changes at all to the score. The changes people see are often caused by 1 of 3 things:

1) Their score is hovering around 800. Yes, 1 inquiry at that level could cause as much as a 5 point drop. However, any change is usually caused by going from 0 to 1 or 1 to 2 inquiries. And it is not 5 pts per inquiry. It may be 5 for the 1st, 3 for the second, 1 for the third, and 0 for the rest, supposing.

2) Some have claimed to have lost 20 plus points with a single inquiry. However, it is not the inquiry that caused the damage, but rather the new account reporting. I lost 20 pts with my last CC and DW lost 25.

3) Some pull their reports, see a drop, and assume it is the inquiry that caused the damage. They need to consider other factors that could cause a drop like utilization, addition or removal of an acct, lates, etc.

Finally, don't ever dispute an inquiry. The account could completely drop off your CR, for good.

[PurpleHaze]

I thought they were a factor as well.  Not necessarily from a score perspective, but from prospective creditors. When creditors see an abundance of inquires, I read they are leery to extend credit, or getting the reconn is more stringent.

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TheNewWorldMan wrote:
Hard inquiries are seldom worth the time and energy to have removed. They're just not that big of a score factor.

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