topic Re: Inquiries in General Credit Topics

Inquiries

Anonymous — Wed, 17 Oct 2007 19:09:16 GMT

Ok trying everything to raise my credit scores, waiting for results to several disputes and I started to look at the number of inquiries on my account and was astonished to find there are (brace yourself) 52 for 2007 and 29 for 2006. I was wondering if there are any ways or tricks to get these removed?

10 are from Auto Inquires and the rest are who knows. 8 of them are HSBC and I just sent them an adjusted non PP letter via fax. Are there any other ways to get them removed alot of them are same companies over and over again.. any help would be greatly appreciated!

current during disputes (only collection and neg items no TL's)

EQ 506 EX 503 TU 501

Re: Inquiries

SmartCookie — Wed, 17 Oct 2007 19:40:35 GMT

What is the breakdown of hard, soft, and promo? I'm just curious.

The PP situation aside, as for the ones that are correct the good news is that the only ones that count are the last 12 months of hard INQs with more emphasis to the prior 6 months. All INQs drop after 24 months.

Re: Inquiries

Anonymous — Wed, 17 Oct 2007 19:44:58 GMT

It is not unusual to have that many under the 'soft' inquiry list. This is called "Requests (or inquiries) viewed only by you" section, and these do NOT impact your credit score. Anyone

The 'hard' inquiries are the ones you have to minimize, as these DO affect your score. They are called "Requests (or Inquiries) viewed by others".

Please review your report. If these 50+ are from the first list, you are ok. If not, Houston, we have a problem.

Re: Inquiries

Anonymous — Wed, 17 Oct 2007 20:04:02 GMT

These are ALL hard inquiries. Have way fewer soft inquiries. Again these are all Hard Inquiries I thought this would really crap out my scores which is why I asked you fortunes of knowledge( you are all so great to help everyone) what you thought.

thanks again and please continue to reply to this any and all help is greatly appreciated!!

Re: Inquiries

SmartCookie — Wed, 17 Oct 2007 20:11:11 GMT

carriewink wrote:

These are ALL hard inquiries. Have way fewer soft inquiries. Again these are all Hard Inquiries I thought this would really crap out my scores which is why I asked you fortunes of knowledge( you are all so great to help everyone) what you thought.
thanks again and please continue to reply to this any and all help is greatly appreciated!!

Holy poo! Ok I need coffee for this... be back!

Oh my gosh!

Re: Inquiries

Anonymous — Wed, 17 Oct 2007 20:17:56 GMT

carriewink wrote:
These are ALL hard inquiries. Have way fewer soft inquiries. Again these are all Hard Inquiries I thought this would really crap out my scores which is why I asked you fortunes of knowledge( you are all so great to help everyone) what you thought.
thanks again and please continue to reply to this any and all help is greatly appreciated!!

Wow.

I dont know what to tell you except 'good luck'. I have been trying to get Wells Fargo to delete ONE non-PP inq from my TransUnion and they will not respond to me no matter what I send them. So I have resorted to filing complaints with every consumer advocacy agency out there and emailing any government official I can find.

You can always try disputing them...by snail mail of course.

Re: Inquiries

SmartCookie — Wed, 17 Oct 2007 20:30:15 GMT

Phew, OK.

I agree, dispute by mail, not online. And I see you are familiar with the method, which is the a non authorized INQ letter like this: http://ficoforums.myfico.com/fico/board/message?board.id=generalcredit&thread.id=3900

Just compile all the non authorized ones, hard and soft (minus soft promo unless you are an OPT-OUT), group by company, and send 1 letter each with all the related dates they pulled listed.

You don't want to do this online as a dispute for the reason that with this many, it might be labeled frivolous and therefor the CBRs might not investigate, and also because they will probably freeze up everything with a fraud alert.

Before doing so though, make sure you understand PP fully. I'm pretty sure there is a refresher on it in the above link.

With any hard INQs that are left, check for possible coding errors. For instance, did you have an account with a creditor and they went to do an internal review but did a hard INQ instead of a soft etc.

Re: Inquiries

John060675 — Wed, 17 Oct 2007 20:37:09 GMT

Hard inquiries do not count against your score after 1 year, so the ones in 2006 I would not even worry about. Even if they still show up on your CR after 1 year, they do not affect the score.

Now, concerning the others that are more recent, that is tough. I would write the ones that you did not approve to get them removed. Other than that all you can do is ask nicely to the others you did approve, but I have never had anyone remove an approved inquiry.

Just cool your heels, and all you have to do is wait 365 days. They will fall off.

Sorry, I know this is probably not what you want to hear, but it is all I can see to do.

Good luck!

Re: Inquiries

smallfry — Wed, 17 Oct 2007 21:16:39 GMT

@SmartCookie wrote:
What is the breakdown of hard, soft, and promo? I'm just curious.
The PP situation aside, as for the ones that are correct the good news is that the only ones that count are the last 12 months of hard INQs with more emphasis to the prior 6 months. All INQs drop after 24 months.

I must introduce you to Experian.

Re: Inquiries

MidnightVoice — Wed, 17 Oct 2007 21:22:30 GMT

smallfry wrote:

I must introduce you to Experian.

Ah yes, the CRA from that hot place down below

Nearly as bad as Cingular.

Re: Inquiries

haulingthescoreup — Wed, 17 Oct 2007 23:45:59 GMT

@Anonymous wrote:
These are ALL hard inquiries. Have way fewer soft inquiries. Again these are all Hard Inquiries I thought this would really crap out my scores which is why I asked you fortunes of knowledge( you are all so great to help everyone) what you thought.
thanks again and please continue to reply to this any and all help is greatly appreciated!!

I don't suppose that any of these are hard inq's for car loans or mortgages, are they? If so, they will all be listed, but those that are clumped together in a short time frame are only counted once for FICO scoring.

Re: Inquiries

Anonymous — Thu, 18 Oct 2007 13:13:18 GMT

Since someone brought up experian I have another question. I recieved a result from a dispute with them mid Sept in the mail that said they had deleted the item I had disputed. but yet today i ck and it is still there!! Yet I see others who see them disappear right away... What gives with the time lapse?

I just found out they agreed to delete 2 more disputed items and dont want to wait till **ll freezes to see it actually happen... Disputed 2 things on husbands and they came back deleted last wk and they are already gone off his report!!! What do I need to do to light a fire under their butt!!!!

Re: Inquiries

Anonymous — Thu, 18 Oct 2007 17:26:59 GMT

They cant be as bad as what Alltel pulled on me and my husband they are below Cingular

Debbie )

Re: Inquiries

Anonymous — Mon, 22 Oct 2007 18:10:54 GMT

Bump!!

Re: Inquiries

Anonymous — Mon, 22 Oct 2007 23:09:57 GMT

I am not absolutely positive about this, but I'm assuming that there's a limit to the number of inquiries that will affect your score. i.e. If you have 10, then number 11 may not impact you anymore. (Anyone with more precise knowledge about this may jump in anytime)

That said, I think working on these inquiries may be a wasted effort. If you do, I would focus on the newest ones first. Then, don't apply for anymore credit for a while, and see if any more show up.

If you don't need a major score for the next 12 months, just sit back and watch 'em drop off.

Re: Inquiries

Anonymous — Wed, 24 Oct 2007 20:16:37 GMT

thanks for the reply! I was hoping to get a new car in a year but wanted to get a few major cc before that. Guess i will wait and see what happens

Thanks again!!

Re: Inquiries

haulingthescoreup — Wed, 24 Oct 2007 23:10:16 GMT

carriewink, have blocked out the age of the inqs by month yet? (3 in Nov 06, 1 in Dec 07, 0 in Jan 07, 4 in Feb 07, etc.) See if you can get a feel as to where you'll be in 3 months, 6 months, and 9 months. You may have a blob of inqs go over 12 months relatively soon.

Just be aware that even though the 13-24 month old inqs are not counted, they do display, and you may need to calm down your car loan people.

Re: Inquiries

Anonymous — Thu, 25 Oct 2007 12:19:01 GMT

Thanks I will do that and see what it shows. Will let you know what I come up with!

Re: Inquiries

Anonymous — Thu, 25 Oct 2007 17:33:54 GMT

Even on the car loans. You get free look or rate shopping, so if you do this is short period of time 2-4 weeks. This will really count as only 1 hit, so things may not been as bad as you think also. The main thing is credit card hits. Those are the ones that can really rack up and hurt ones scores.