Erasing Inquiries

Every time a creditor checks your credit history, an inquiry is printed on your credit report. The more inquiries you have on your credit report the lower your FICO score is going to be.  In terms of identity theft, there can be a number of inquiries on your credit report that you did not authorize yourself.  If you are trying to improve your FICO score then you may want to learn the steps for erasing inquiries.

Steps for Erasing Inquires From Your Credit Report

The first step that you will need to make for erasing inquiries is to request a copy of your credit report from Experian, TransUnion and Equifax.  If it has been several months or years since you surveyed your credit report, you may be unaware of some fraudulent activity on your credit report.  Being that you can order up a free credit report, there is no reason to not order a credit report and survey the results.  Once you have the credit report in hand, this is what you should do:

1. Flip to the last page to find your credit inquiries. Circle any inquiry that you know that you did not authorize. These are the companies you need to contact about erasing inquiries from your report.  That's an important note to remember: you don't only want to contact the credit bureaus, but each credit agency where the inquiry was authorized.
2. Next, you want to draft a letter to the companies that made unauthorized credit checks. Your letter should clearly state that you are writing to them because of an “unauthorized credit inquiry.” You will need to inform them that you think that their credit inquiry was not authorized, that their inquiry is impairing your ability to be approved for credit and that you want them to remove their inquiry from your credit report as soon as possible.  With the letter, include a copy of the credit report with the inquiry circled.    

Note: you cannot erase legitimate inquiries, so this is a reason that you should not make too many inquiries in too short a time.  For example, don't apply for several credit cards in six months time.  Another example, don't apply for a car loan at several different car lots to see which lot offers the best rate on a loan.  This barrage of new inquiries will have a negative effect on your credit rating.  Instead, only apply for a loan with a lender where you are certain that you will complete the loan.  

Ask for Proof of All Questionable Credit Inquiries

You should also request that the unrecognized companies provide evidence that you authorized the credit inquiry. If they can’t produce any evidence then they will need to remove their inquiry from your report. However, if they do have proof then you may need to review the agreement and write a follow up letter. Close the letter with a feeling of urgency for their timely response, though don't make your language veer into being overly angry or impatient.  You will be able to find the mailing addresses to the inquiring lenders on your credit report, or by calling the credit reporting agency that provided your report.

After erasing these inquiries, using a credit monitoring service is recommended, as a credit monitor will find these inquiries in real time, rather than once a year when you order a copy of your report.