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Information and advice on how to stop credit inquiries

How can I stop inquiries on my credit report?

How to stop inquiries on my credit report. I recently signed up for stopping all the inquiries, but I can't find the website, or how I did it! Can you help?

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Bill's Answer
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I assume you may have been a victim of identity theft and that is the reason you want to stop the inquiries on your credit report. Identity theft is becoming a growing problem. Twelve states have passed laws allowing consumers to place a security freeze on their credit reports, effectively preventing any credit grantor from obtaining a copy of a consumer's credit report, thus stopping any credit inquiries from appearing on the consumer's credit report. The primary purpose behind these laws is to allow victims of identity theft to prevent further credit from being obtained using their credit information

However, a security freeze will also allow you to prevent further credit inquiries from appearing on your credit report. The downside of placing a security freeze on your credit report is that no one will be able to obtain a copy of your credit report or credit score, even lenders who you may want to pull your credit report for the purpose of extending you credit. While a security freeze is placed on your credit report, you will likely not be able to obtain a mortgage, auto financing, new credit cards, or any other type of credit. If you need to obtain new credit, you can always have the freeze lifted, though the process will take a few days, so you should expect a delay anytime you need to obtain new credit. To learn more about the process of placing a security freeze on your credit report, please visit the respective credit bureau website:

Experian

Equifax

TransUnion

Because of the possible inconvenience caused by placing a security freeze on your credit report, you may want to think twice before doing so. I would like to explain credit inquiries to you to help you determine if placing a security freeze on your report is really necessary. Whenever a company pulls a copy of your credit report, the credit bureaus will list an inquiry on your credit report. Credit inquires fall into two general categories: "hard" inquiries and "soft" inquiries.

Hard inquiries, which can negatively impact your credit score, appear when a potential lender checks your credit as a result of your applying for new credit.

Soft inquiries appear when a company pulls your credit without your prior authorization, or when you pull your own report. For example, an unsolicited "pre-approval" letter from a credit card company will result in a soft inquiry. Soft inquiries are not disclosed to your potential lenders when they pull your credit report, and they do not affect your credit score. The primary purpose of soft inquiries is to allow you to see who has been reviewing your credit report.

If you find inquiries on your credit report which you feel should not be there, how you should proceed depends on what type of inquiries are appearing. If they are soft inquiries, then there is little concern, as these inquiries do not affect your credit score. However, if they are hard inquiries, you may want to review the listings more carefully. As stated above, hard inquiries result from your applying for new credit, not from established creditors pulling your report for review or from unsolicited credit offers. If you find inquiries you think are being improperly reported, you should notify the credit bureaus, Equifax, Experian and TransUnion, of the problem. If the inquiries have been reported inaccurately, you should have little difficulty in having the problem corrected. The Federal Trade Commission offers an online guide to disputing inaccurate credit listings, available at Ftc.gov.

 

I wish you the best of luck in resolving these inquiries on your credit reports. I hope that the information I have provided helps you Find. Learn. Save.

Best,

Bill

Bills.com

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  • 35x35
    jon harker,
    Jun, 2020

    I learned today that credit card companies have programs that continually attempt to read your credit over and over and over. If you have frozen your credit for 3 years, and then unfreeze it for 4 days, and freeze it again, then all of the "soft pulls" will come in within that window. It's a sick cult of banks orchestrating this, for reasons I can't understand. If you freeze your account, then you'll want to do it on a unique temporary pin, and give it to only the creditor requesting it. If you merely take the entire freeze off, then you will get inundated with soft-pulls galore. Banks are scum!

    • 35x35
      Daniel,
      Jun, 2020

      Jon, a soft pull doesn't hurt your credit score. What harm are you suffering? 

  • 35x35
    David Kline,
    Mar, 2020

    Bill - in recently checking our (wife & I) credit reports, found on wife’s multiple “Credit Karma” inquiry’s. Neither of us have ever used this piece of crap!!! Whoever made the inquiry’s needed my wife’s SS#, which we had a thief try to use several years ago. As the information adds up, “forms in doctor or other offices, stolen mail, credit card info, etc.”, there are fewer blanks to fill in for all of one’s information. Scary! See no other way to protect her/us, other than a freeze. Any thoughts?

    • 35x35
      Daniel,
      Mar, 2020

      Hi, David. I am not certain what is going on, but what you described doesn't scream identity theft.

      The first thing to do is to see if the inquiries on the report are soft or hard inquiries. Only hard inquiries are tied to applications for credit. If they are soft inquiries, which have no effect on your credit score, it is harder to figure out what is going on.

      Seeing you were a victim of someone using your private information in the past, it seems prudent to take some preventative measures. A freeze on your credit is a good idea. If you wish to apply for credit you will have to unfreeze it, but no credit accounts will be opend during the freeze. Another step is to get an IRS PIN number that must be used when your return is filed or it won't be accepted. This will prevent someone from snagging your refund or filing a fake return in your name with all sorts of bogus deductions that result in a huge refund for the thief and a mess for you to clean up.

  • 35x35
    Mike Miller,
    Nov, 2019

    Sure you like soft inquiries. I'm sure you sell data from your members to agencies that are doing soft inquiries.

    • 35x35
      Daniel,
      Nov, 2019

      You are incorrect, despite your assuredness.

  • JB
    Joe,
    Venice, FL,
    Dec, 2013
    The article states: "Hard inquiries, which can negatively impact your credit score, appear when a potential lender checks your credit as a result of your applying for new credit." Although this is generally true, one of my pet peeves is that my credit can be negatively affected in this way simply because I applied for a job, or because I applied for membership in a professional organization, or because my existing landlord wants to check up on me, or because a car dealership I visit wants to determine whether I might be able to obtain credit from a third party. In none of these situations, am I actually going to borrow money from the people checking my credit. Nevertheless, a hard inquiry might result. I always pay my cable bill on time, but when I moved to a new apartment and got the same service I had before, the cable company did a hard pull. They ignored my request to pay a deposit instead. Hard pulls are a dime a dozen and don't cost very much, unless you're the prospective "debtor."
    • BA
      Bill,
      Dec, 2013
      I understand your frustration with taking a hit on your credit for a hard pull. It is not the case, by my understanding, that when a potential employer checks your credit that it is hard pull. That kind of inquiry is a soft pull. If you are shopping for car financing, each inquiry that is made will show on your report as a hard inquiry, but you only take one hit against your score, if you have the inquiries done within a short window (14 to 45 days, depending on the scoring model used).
  • BA
    Bill,
    Feb, 2010
    A credit freeze stops soft pulls the consumer does not authorize.
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