Getting rid of credit inquiries on report

NovemberEcho

NovemberEcho

Dergs favorite member
so in the past year or so, I've had 9 credit inquiries. This really kills my score (I've gone from an 804 to 720's). It started before j bought my truck because I shopped around for the best loan, and same for when I shopped for a mortgage. I think those were 6 of the 9, with the rest being a cell phone, cable company, and something else I don't remember. But in another couple months it'll be time to buy/lease a car for my wife, and she has no credit (or job atm) so it'll most likely be in my name or at least cosigned by me. Aside from not wanting another 1 or more credit inquiries on my report, is there a way i can get rid of the other hard inquiries? I know of the dispute option, but I'm not sure if that applies in this situation. Kind of seems stupid to penalize someone for using good sense and trying to find the best interest rate for a big loan.
 
all your mortgage pulls and car loan pulls should be lumped into one pull per category. you have I believe it is 45 days of free mortgage pulls after your first one. same goes for car loans IIRC

you gotta have more than you led us believe.
 
I'll have to double check but I know even the mortgage company I went with, as part of the paperwork, asked me to explain the 2 other credit inquiries from different mortgage companies.
 
They, by law, should only stay on your credit for a max of 2 years. So they should start dropping off as the 2nd year progresses. You can dispute to get it removed earlier but its going to be difficult to come up with a justifiable reason that the credit reporting agencies will accept.

I had a pretty bad case of identity theft a few years back and had to get really knowledgeable about the FCRA. I had a ton of inquiries (as well as loans and credit cards) on my credit at one point that were not mine. 5 years later I am still dealing with the aftermath.
 
Typically, on your credit report, it will tell you what is negatively affecting your score...I know that the one that gets pulled on my mint account does. But, you are still in the excellent range for scores, so I am not sure if it really makes that big of a difference...720 or higher is Excellent and they typically judge the same way. I get being a perfectionist with it, but it can only get better once those inquiries start dropping off.
 
Actually I think it's 760+ is excellent, 720 is just "good" lol. I'm just paranoid about it cause after my CS kicked in and my options were "pay rent and CS" or "pay rent and bills" I went 6 months without paying any bills and my score was in the 400's.
 
NovemberEcho said:
Actually I think it's 760+ is excellent, 720 is just "good" lol. I'm just paranoid about it cause after my CS kicked in and my options were "pay rent and CS" or "pay rent and bills" I went 6 months without paying any bills and my score was in the 400's.
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I was just going off of what my Mint range was...and it said 720 and above were excellent. Oh wow, that is a huge improvement for you. Six months without paying any bills. Yikes. I would have an anxiety attack!
 
They eventually go away most usually in two years. Hard pulls don't have too large of an impact. I had mortgages, cars and credit cards all within about 6 months and my credit score only dropped by 20 points. It was back over 800 within a few months.

What are your credit card balances like? I had one card maxed out when I had to cover for the company card that had fraud on it. That dropped it 80 points and was right back up when I got reimbursed.
 
My CC balances are pretty low. Higher than I normally keep cause I just bought a house and needed everything, but still under 15% available credit. The only negatives I have now are too many credit inquiries and "young" accounts (oldest open line of credit being a little over 6 years).
 
NovemberEcho said:
My CC balances are pretty low. Higher than I normally keep cause I just bought a house and needed everything, but still under 15% available credit. The only negatives I have now are too many credit inquiries and "young" accounts (oldest open line of credit being a little over 6 years).
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It is funny the advice the reports give you to raise your score. My score could be perfect if I add a mortgage. Yeah, I don't want to!
 
Over the span of a year my wife and I opened up (and also closed after using them) multiple, multiple, multiple credit card accounts to take advantage of all the free money they were throwing out. Our scores only went up. Hers went from something like 640 to 780 mine went from 780 to over 800.

I can't believe a cell phone company and cable company pull credit reports. That's crazy. I use prepaid cell phones and stream my cable via SlingTV which is also pre-paid, even done with a prepaid "credit card" lol. I've never had a car loan so I can't help there. I find it's just a lot easier paying for things with cash/cashiers check.
 
wheelsup said:
I can't believe a cell phone company and cable company pull credit reports. That's crazy. I use prepaid cell phones and stream my cable via SlingTV which is also pre-paid, even done with a prepaid "credit card" lol. I've never had a car loan so I can't help there. I find it's just a lot easier paying for things with cash/cashiers check.
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You can avoid a credit pull by paying a deposit but not everyone does it. So far I just put a deposit down. I do the same with cell phones and use playon, roku and amazon for TV. Now a days its fairly easy to live "off the grid". After the mess I dealt with over the past 5 years I don't want anyone having my social security number.
 
wheelsup said:
Over the span of a year my wife and I opened up (and also closed after using them) multiple, multiple, multiple credit card accounts to take advantage of all the free money they were throwing out. Our scores only went up. Hers went from something like 640 to 780 mine went from 780 to over 800.

I can't believe a cell phone company and cable company pull credit reports. That's crazy. I use prepaid cell phones and stream my cable via SlingTV which is also pre-paid, even done with a prepaid "credit card" lol. I've never had a car loan so I can't help there. I find it's just a lot easier paying for things with cash/cashiers check.
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You lose all the benefits of a credit card when you use cash. The only time I actually have cash on me is when I am at a carnival or fair.
 
It sounds like you need a cheap used car for cash, not another loan/lease for one you can't afford. Maybe your lowered credit score is sending you a signal that you don't have any money....
 
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I have/make plenty of money. The only thing lowering my score, at least according to credit karma, is the high amount of credit inquiries.
 
Cessnaflyer said:
You lose all the benefits of a credit card when you use cash. The only time I actually have cash on me is when I am at a carnival or fair.
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I've never seen a dealer take a CC for an entire car's purchase. A down payment, yes, but not the whole car.
 
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