How to Erase Credit Inquiries Quickly

Credit scores are a numerical representation of a person's credit worthiness. The exact score is weighted by a number of factors, including the number of revolving accounts, payment history, account balances and the number of credit inquiries made on a consumer.

If you're trying to build or rebuild your credit, one of the ways to start is by limiting the number of credit inquiries on your credit report. A large number of inquiries can have a slightly negative effect on your credit score and can show potential lenders that you're looking to take on more debt than you can manage.

If you already have a large number of inquiries on your credit report, it's likely that you want to get rid of those inquiries. The only tried-and-true way to erase the inquiries is to wait until they age off your report after a few years. However, you can ask the credit-reporting agencies to remove the credit inquiries as a goodwill measure.

Instructions

1

Send a goodwill letter to the big three credit bureaus: Experian, TransUnion and Equifax. They are separate companies, so you'll have to send each request separately. The best way is to write a letter for each inquiry that you want removed. Explain that you are in the process of rebuilding your credit and would appreciate it if they removed the erroneous inquiry. Or, if you didn't approve the credit inquiry, then dispute it with the credit reporting agencies as "not mine." Let them know that they are required to investigate your dispute under the Federal Credit Reporting Act and notify you of the findings of their investigation.

Be sure to include your full name, Social Security Number and the credit inquiry in question to help them identify you. At the end, ask the credit-reporting agency to make the change within a reasonable amount of time (such as two weeks to one month) and ask them to send you a response with an updated credit report.

2

Send each mailing as a certified, return-receipt letter through the U.S. Postal Service. This method provides you proof that each letter was sent and arrived at the intended address.

3

Follow up if you don't hear back within a reasonable period of time. It might take more than one request, but eventually you'll receive a report with the credit inquiries removed or they'll ask for more information to help them in their investigation and decision.

4

Work on improving you credit score in other ways. Credit inquiries mean little in the formula that determines your credit score. Instead, establish credit accounts and loans that you pay on time every month (and pay off credit card balances in full each month, if possible.) Over time, the credit inquiries will fall off your report and your credit score will rise to its fullest potential.