Question 1

What is a hard inquiry, and how does it affect my credit score?

Accepted Answer

A hard inquiry occurs when a lender or creditor checks your credit report as part of a loan or credit application. It typically leads to a temporary dip in your credit score, which can affect your overall creditworthiness.

Question 2

How long do hard inquiries stay on my credit report?

Accepted Answer

Hard inquiries typically remain on your credit report for about two years. However, their impact on your credit score diminishes over time, with the most significant effect occurring in the first few months.

Question 3

Can I remove hard inquiries from my credit report?

Accepted Answer

Yes, it is possible to remove unauthorized or inaccurate hard inquiries from your credit report. If you believe a hard inquiry was made without your consent or is erroneous, you can dispute it with the credit reporting agencies to have it removed.

Question 4

How do I dispute a hard inquiry on my credit report?

Accepted Answer

To dispute a hard inquiry, request your credit report, identify the inquiry you want to dispute, and gather any supporting evidence. Then, submit a dispute with the credit reporting agency, explaining the issue and providing any relevant documentation.

Question 5

Will removing hard inquiries automatically improve my credit score?

Accepted Answer

While removing inaccurate or unauthorized hard inquiries can have a positive impact on your credit score, it's essential to understand that it may not result in a significant increase. Other factors like payment history, credit utilization, and the types of credit accounts you have also influence your credit score.