Understanding Credit Inquiries

This is a very talked about topic here.  Credit Inquiries, many people so misled about Credit Inquiries that they don't even know whats on there credit report because there afraid to check it.  Lets start with what a Inquiry is.  A inquiry is exactly what it says, its an inquiry, an inquiry about your credit history, for creditors or landlords, or jobs or even car rental companies to check on your credit background.  Now understand that there's two kinds of credit inquiries, the Hard Inquiry and the soft inquiry.

Hard Inquiry:

The hard inquiry is made form creditors looking to check on your credit history for a loan, credit card, or rental approval and more.  This kind of inquiry is a hard inquiry because it decreases your credit score.  Now even though this decreases your credit score if you get the loan or credit card, or apartment rental or mortgage, it doesn't look bad on your report, because you applied for an auto loan and you got it. Unlike if you applied for an auto loan like 3-5 times and didn't get the loan, that's bad.  Makes other or new creditors your trying to get, look at your report as if something is wrong with this picture.

Soft Inquiry:

The soft pull.  The soft pull is normally made by you yourself checking your credit report and sometimes some creditors doing a credit limit increase or a Pre-approval for a credit card or store card.  This Inquiry does not effect your credit score. Don't be afraid to ask some creditors if they do soft pulls or not.  Some credit grantors such as Walmart, Khol's, and others that do soft pulls due to a pre approval system they are associated with.  You can put your self in this system which is basically opting your self in to be able to possibly get a Pre-approval on credit.

Now also do understand that every creditor that pulls a report  and makes an inquiry does not do it to all 3 of your credit bureaus.  Some creditors only pull one bureau or maybe 2 sometimes.  You normally get all 3 pulled and an inquiry done on all 3 when your looking to get a mortgage done.  So this is a nice clue to you that 2 of your credit bureau reports are high in inquiries and your looking  to go get a auto loan, maybe you should go to a bank or creditor that will pull the bureau that has the least inquiries.

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How To Dispute Collection Agencies

This one is sweet and to the point.  Before you start Disputing anything with the Collection Agencies, take a good look at your Credit Report first.  You maybe able to get rid of allot of your problems with them as far as negatives items being on your credit report.  Now if you have tried all that you can with the Credit Bureau's and all have failed, then you can pursue the Collection Agencies.  Word of advice, Collection Agencies are not very trust worthy and sometimes don't have all the ammunition that you think they would have considering that they are after you for a debt that they have bought from the original creditor. So firs thing, do not give them any information about you that they didn't know before.  if they say its your debt, then they should have all of your current information; and don't confirm any information that they relay to you.  Allot of times they fish to see if what they have is correct.  Some of them don't even have your social security number, which make you wonder, why are they reporting on my reporting without a ssn or how did they get the ssn number? ha, anyway, Never make any deal with a Collection Agency unless they mail or fax one to you and has a signature from a higher up in there company, ex: manager, supervisor.  They are notorious for making flake deals with unsuspecting and unaware individuals, that makes things worse for you.  And also don't believe when they tell you that they can not remove the negative item form your credit report, they can, because, they are the ones that put it there, and I myself have made such a deal.  They can even cut deals with you to update your account as a positive account, depending on the kind of flexibility they have or want to have.  There is nothing that cant be done.

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Blue Mitzi
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