How to Get Hard Pulls Off Your Credit Report
Optimize your credit report by learning effective strategies to address and potentially remove certain hard inquiries. Enhance your financial health.
A hard inquiry occurs when a lender or company formally requests to review your credit report as part of a loan or credit application process. This occurs when applying for new credit, such as a mortgage, auto loan, or credit card. While a hard inquiry records your application, it can cause a small, temporary dip in your credit score. Hard inquiries remain on your credit report for up to two years, though their impact on your credit score diminishes after 12 months. This article guides you on methods for potentially removing hard inquiries from your credit report.
Identifying Removable Hard Inquiries
Distinguishing between legitimate and incorrect hard inquiries is the first step for removal. Only unauthorized or incorrect hard inquiries are eligible for dispute and potential removal. Legitimate inquiries, reflecting an application you initiated, cannot be removed before their natural expiration, usually after two years.
An inquiry is incorrect or unauthorized under specific circumstances. An inquiry is unauthorized if it appears for an application you never submitted. This can occur due to administrative error or identity theft, where someone applied for credit using your information without consent.
Another scenario involves duplicate inquiries for a single credit application. While multiple inquiries for the same loan type (like a mortgage or auto loan) within a short “shopping period” (14 to 45 days) are often counted as a single inquiry for scoring, multiple distinct inquiries for the identical application may be an error. The Fair Credit Reporting Act (FCRA) grants consumers the right to dispute inaccurate information on their credit reports.
Preparing Your Dispute Information
Gathering information and documentation is a preparatory step before disputing an incorrect or unauthorized hard inquiry. Identify the specific hard inquiry on your credit report, noting its date and the inquiring creditor’s name.
Obtain your credit reports from all three major credit bureaus: Equifax, Experian, and TransUnion. You are entitled to a free copy from each bureau annually, and can access them weekly through AnnualCreditReport.com. Review all three reports, as an inquiry might appear on one, two, or all three.
Gather proof of the error or lack of authorization. If the inquiry resulted from identity theft, a police report and an Identity Theft Report from the Federal Trade Commission (FTC) serve as evidence. For inquiries made without your permission due to administrative error, written confirmation from the lender stating no application was made can support your claim. If you suspect duplicate inquiries, gather evidence demonstrating only one application was intended.
Have personal identification documents ready for verification. This includes a copy of a government-issued ID (e.g., driver’s license or state ID) and proof of address (e.g., utility bill or bank statement).
Submitting a Dispute to Credit Bureaus
Submit your dispute to each relevant credit bureau. Equifax, Experian, and TransUnion offer distinct methods for submitting disputes, including online portals, mail, and phone. Certified mail with a return receipt is recommended for mailed disputes, providing proof of delivery.
For online submissions, create an account or log in to the bureau’s dispute portal. These portals guide you through questions about the inquiry and allow document uploads. When submitting by mail, clearly state the hard inquiry you are disputing, explain why it is inaccurate or unauthorized, and enclose copies of all supporting documentation. Never send original documents.
After receiving your dispute, credit bureaus are required by the Act to investigate within 30 days. This period can extend to 45 days if you submit additional information or if the dispute was initiated after obtaining a free report from AnnualCreditReport.com. They contact the creditor who made the inquiry to verify its legitimacy. During this investigation, the bureau will communicate the status and findings, usually within five business days of completion. If the inquiry is found inaccurate or unauthorized, it will be removed from your credit report.
Options for Authorized Hard Inquiries
Legitimate hard inquiries, reflecting an application you initiated, generally cannot be removed through the formal dispute process. While a legitimate hard inquiry remains on your credit report for up to two years, its impact on your credit score lessens significantly after 12 months.
Despite the inability to remove authorized inquiries, a limited “goodwill” request can be considered. This involves contacting the lender who made the inquiry and asking them to remove it as a courtesy, often citing a positive relationship or a misunderstanding.
A goodwill removal is entirely at the lender’s discretion and is rarely granted. Even if a goodwill request is unsuccessful, the temporary impact of a hard inquiry on your credit score is minimal, often resulting in a drop of fewer than five points. Focusing on consistent, responsible credit management, such as timely payments and low credit utilization, will have a more substantial and lasting positive effect on your credit score.