Inquiry Dispute Question

Anonymous · ‎06-13-2017

I opened up a credit card with US bank last year and was told by the bank manager that I should add a line of credit at the same time. I made sure to ask him if it would hit my credit report more than once and he stated that it would not since we were doing it all at the same time. I honestly did not need a line of credit to begin with and have like 3 that I never use. So my question is two fold - 1) is that something I can win a dispute over? and 2) Is there an easy way to dispute an inquiry online? (the only options I have been given through the bank and through Transunion is by writing - and who even writes letters anymore?)

Anonymous · ‎06-13-2017

Although you don't say that this happened, I am guessing that on the day that the credit card and LOC were opened, you received two inquiries, rather than one -- and it is the inquiry for the LOC that you wish to dispute. Is that right?

You may not be aware that inquiries have zero effect on your FICO score after 1 year. Since these two inquiries happened close to a year ago, I would for that reason alone not worry about it.

If you still feel strongly about the possibility of disputing it, the answer is that you have almost no chance of being successful. Inquiries are hard enough to dispute when they have happened very recently. In this case your chance of being successful is about one out of a million.

If the bank manager remembers all this, and agrees that he promised you that you'd only have one inquiry, he can certainly try on his end to ask the CRA to delete the inquiry. Or he can ask that the inquiry be recoded as a "soft" inqury, which will have the same effect.

RobertEG · ‎06-13-2017

They were separate accounts, each with their own permissible purpose.

Thus, there is no issue as to whether the inquiries were proper.

The CRAs have filled the inquiry, and thus take the position that the sending of a consumer report must be recorded by them.

They have a legal obligation to provide a record of inquiries if requested.

Thus, they will take the position that the inquiry was proper and having filled the request is a matter of fact that cannot be undone.

I would suggest contacting the creditor and pursuing a good-will request to have one of the inquiries recoded as soft rather than contesting the fact of the inquiry itself.

Once you dispute, you will likely reduce your ability to get them to recode to soft.

Anonymous · ‎06-14-2017

@Anonymous wrote:
Although you don't say that this happened, I am guessing that on the day that the credit card and LOC were opened, you received two inquiries, rather than one -- and it is the inquiry for the LOC that you wish to dispute. Is that right?

You may not be aware that inquiries have zero effect on your FICO score after 1 year. Since these two inquiries happened close to a year ago, I would for that reason alone not worry about it.

If you still feel strongly about the possibility of disputing it, the answer is that you have almost no chance of being successful. Inquiries are hard enough to dispute when they have happened very recently. In this case your chance of being successful is about one out of a million.

If the bank manager remembers all this, and agrees that he promised you that you'd only have one inquiry, he can certainly try on his end to ask the CRA to delete the inquiry. Or he can ask that the inquiry be recoded as a "soft" inqury, which will have the same effect.

Thanks for the response! Yes, they hit me with 2 inquiries on the same day instead of just 1. I am aware that they don't have an effect after a year - and that it is almost elapsed, but it is really the principal! I feel like if they tell you something, then that should be it. I only have 3 inquiries on TU in total including those 2. The CRA I have the most rediculous amounts of inquiries on is my Experian. I have 3 inquiries on TU, 2 inquiries on Equifax, and 17 in Experian. I mean whats the deal with the lopsided pulling?

Anonymous · ‎06-14-2017

Some creditors have a stronger relationship with one credit bureau over another. It's not uncommon for a given person to have many of his inquiries all lopsided onto one bureau. It used to be Equifax for me. Which CRA it ends up being may be different for each person, and it may change over time.

I would strongly recommend developing a different mindset as touches the stuff on your reports that you want to change. Base it on "Will I get an advantage by doing this?" rather than "Was the creditor wrong to do this?" Don't worry about what is right or wrong in principle -- think instead about what is in it for you.

In this case, since FICO was about to stop counting the inquiry at all, and since it only had a tiny effect on one bureau's score when it did have an effect, trying to get it removed did not benefit you. Reserve your time and energy for the stuff that will give you a big payoff.

Best wishes....