Posted on: 13th Mar, 2009 05:03 pm
How do I post a notice to the credit companies thatI do not want unsolicited inquiries...I'm under the impression that credit inquiries lower my scores?
Hi esilkett!
Welcome to forums!
Not all credit inquiries effect your credit report. You should note that there are two types of inquiries - hard and soft. Hard inquiries take place when a lender pulls your credit report in order to give you a loan. It can effect your credit score. On the other hand, soft inquiries appear when a company pulls your credit without your prior authorization, or when you pull your own report.
There are certain states which allow the consumers to place security freeze on their credit reports. This will prevent any credit grantor from obtaining a copy of a your credit report and will stop credit inquiries on your credit report.
However, the disadvantage of placing a security freeze on your credit report is that even the lenders would not be able to pull your credit report. When a security freeze is placed on your credit report, you will not be able to obtain an auto financing, new credit cards, mortgage etc. In order to get new credit, you will have to get the freeze lifted first. However, getting the freeze lifted will take a few days time.
Feel free to ask if you have further queries.
Sussane
Welcome to forums!
Not all credit inquiries effect your credit report. You should note that there are two types of inquiries - hard and soft. Hard inquiries take place when a lender pulls your credit report in order to give you a loan. It can effect your credit score. On the other hand, soft inquiries appear when a company pulls your credit without your prior authorization, or when you pull your own report.
There are certain states which allow the consumers to place security freeze on their credit reports. This will prevent any credit grantor from obtaining a copy of a your credit report and will stop credit inquiries on your credit report.
However, the disadvantage of placing a security freeze on your credit report is that even the lenders would not be able to pull your credit report. When a security freeze is placed on your credit report, you will not be able to obtain an auto financing, new credit cards, mortgage etc. In order to get new credit, you will have to get the freeze lifted first. However, getting the freeze lifted will take a few days time.
Feel free to ask if you have further queries.
Sussane