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Removing inquiries from your credit report is as easy as hiring the right removal service. One of the hottest topics in credit repair; credit inquiries can have a massive effect on your credit rating. In fact, the appearance of too many hard inquiries on your report can lower your scores significantly. However, when you dispute a hard inquiry properly, chances are it will come off.
You’ll notice a section at the end of your credit report called “Regular Inquiries,” which lists the number of hard and soft inquiries you’ve accumulated over the years. The hard inquiries are those that were made by various companies who pulled your credit report to qualify you for financing. Unlike soft inquiries which have little effect on your scores and stay on your report for a long time, hard inquiries can damage your creditworthiness but only remain on your report for up to two years.
Regardless, you may not always recognize the names of the creditors listed in the Regular Inquiries section of your credit report. You may not even know why they pulled your report. Fortunately, the best hard inquiry removal service can send inquiry dispute letters to creditors on your behalf to get them erased. But how do you know which service provider is the right one? Below is a list of the main characteristics to look for:
1. They Will Offer a Free Credit Analysis with No Obligation
In order to identify the inquiries that are doing the most damage to your credit report, the best inquiry removal service provider will extend a cost-free, no obligation credit analysis. This comprehensive look at your report should reveal all hard inquiries that qualify for removal. Furthermore, the best company can use a credit check to help find out if there are other problems holding you back.
People often focus on removing inquiries to improve their credit scores, but reports that are full of late payments, collection accounts, charge-offs, bankruptcies, and foreclosures tend to have a much more negative effect on the bottom line. If those things appear on the analysis, a good company will notify you and possibly suggest holding off on any inquiry removal efforts until those things are cleared up. Furthermore, they will often help you repair your credit to get you positioned to remove hard inquiries in the most effective way.
2. They Will Be Able to Demonstrate Proven Results
Any credit repair company with a web presence or working phone number can promise to successfully remove the hard inquiries from your credit report, but not all of them deliver. While you can always review the annals of the Better Business Bureau (BBB) to determine the quality of services provided, it’s much easier to peruse client testimonials. A good credit repair company will offer up dozens of real customer reviews for your convenience.
In addition, the customers who review the company will always give detailed accounts of how the service helped them achieve a better credit score through fast and efficient hard inquiry removal. If a company cannot produce this proof, it’s indicative of false advertising and you’d be wise to take your business elsewhere.
3. They Will Give Fast Service
Although each credit repair company conducts business differently, getting qualified inquiries removed from a consumer credit report isn’t difficult or time-consuming in most cases. Generally speaking, it takes a good company between three and six weeks to successfully dispute all qualified hard inquiries from a client’s profile.
Furthermore, a reputable company will be able to predict a tentative timeline for their services, although that timeline may be extended if creditors are stubborn or if certain information is not revealed in the initial credit analysis. To make the most of your time and get the maximum impact of their efforts, be sure to submit as much accurate information as possible when initiating your complimentary credit examination.
4. Their Prices Will Be Competitive
While paying for the services of a credit inquiry removal program is an investment, it is well worth the money when you hire the best company. Usually, you can expect to pay a few hundred dollars for them to dispute hard inquiries on your behalf. Because the company must identify and quickly remove inquiries by drafting and submitting numerous dispute letters to creditors, their efforts deserve payment.
However, you should never be expected to pay exorbitant fees to remove inquiries from your credit report. Although you will be required to pay for their services upfront and a money-back guarantee is virtually unheard of, a reputable company will issue in-store credit under certain circumstances to clients who are unhappy with the results of their services. In addition, the fees charged will be similar to, if not better than, all competitors’ pricing.
5. They Will Continue to Dispute Until All Qualified Inquiries Are Gone
Every time you apply for a line of credit, the credit grantor initiates a credit check. When that happens, a hard inquiry is placed on your file. Even if you simply respond to a credit card offer that’s sent to you in the mail, your report may feature a new inquiry. As such, it sometimes takes continual efforts to get all qualified inquiries deleted from your report.
Still, it’s important to refrain from applying for new credit while using an inquiry removal service. Although the best companies will continually fight for the removal of all hard inquiries on your behalf, nobody promises to stay on the case forever. Be sure to halt any credit seeking while under the wing of the removal service so you can enjoy the results thereof.
Additional Benefits of the Best Inquiry Removal Service
If the service provider you’ve hired does not offer the following customer benefits, it may be a red flag:
Their company is bonded and insured.
They offer cost-effective credit monitoring.
They have customer service representatives ready and willing to answer your questions.
They have a working hotline or email address to address your concerns.
They accept payment via all major credit cards.
They have a secure website that protects your personal information.
They can put you in contact with several lenders once your credit report is wiped clean of all qualified hard inquiries.
This article was written for Grand Teton Professionals for Inquiry Busters. For Credit Repair Solutions and Support, please contact us at 203-599-4157 or email us at Support@InquiryBusters.com. For Media Relations, please contact Misty.Burrell@GrandTetonProfessionals.com