Credit Inquiry Deletion Hack: Boost Your Credit Score by 55 Points!

Daniel Rosen  0:00  

Hey Credit Heroes, there is a simple credit inquiry deletion hack that can boost your credit score up to 55 points in just 24 hours. And today I'm going to show you exactly how to do that. So you better stick around. So the big question is this. How can we take our passion for helping people with their credit and turn it into a successful business without taking loans without spending a fortune by bootstrapping it from nothing? So we can help the most people and still become highly profitable? That is the question, and this podcast will give you the answer. My name is Daniel Rosen, and welcome to credit repair business secrets. If this is your first time listening to my podcast every week I give credit repair tips and advice on bootstrapping your business from nothing. So be sure to click that subscribe button now and get ready to start changing lives. 

Okay, let's get into this credit inquiries may not sound as serious as bankruptcies or foreclosures, but they're still one of the biggest obstacles that Credit Repair customers face if you're new to the world of credit repair. An inquiry is when a lender requests your credit history. From one of the credit reporting agencies, an inquiry is made whenever a consumer applies for credit whether it's a mortgage, auto loan, or credit card. There are two types of inquiries soft inquiries and hard inquiries. Soft inquiries typically happen when a person or a company checks your credit. As part of a background check. It might happen when a credit card company checks your credit without your permission to see if you qualify for certain credit card offers. Your employer might run a soft inquiry before hiring you or a landlord before renting you an apartment. The important thing to know is that soft inquiries do not affect your credit score hard inquiries are made every time you apply for credit. They are visible to other lenders and creditors and they do hurt your credit score. 

This can happen for many reasons, but simply people often bunched up multiple hard inquiries together over a short period of time, like when they're shopping for a car, which can make it appear like they're taking on too much debt. So how does this relate to us hard inquiries stay on your credit report for two years and impact your credit scores for 12 months. But don't let their short lifespan fool you. Hard inquiries make up a massive part of your overall credit score. According to FICO, up to 10% of a person's credit score is determined by the number of inquiries on their credit report. That means inquiries alone can affect scores up to 55 points. They also found that one hard inquiry could lower a person's credit score by as much as 10 points. And the credit bureau Experian reported that nearly 1/3 of all customers had four or more hard inquiries on their credit report. Now inquiries may be a bigger problem than people realize. But disputing and deleting them is very, very simple. And I'm going to show you exactly how to do it. Here's the thing to remember, when disputing negative items on credit reports. 

The first step is to remove any and all conflicting personal information from your credit reports. If there's a misspelled name and old address, wrong date of birth, incorrect, or outdated employment information, or anything else that appears in the personal information section of the credit report, trust me dispute that first. Here's why this is important. Believe it or not, that personal information that you're disputing? It actually comes from inquiries. It's true. Every time your report is pulled, the information from the application is added to your reports. And that information is tied to the inquiries that you now want to remove. See the people who are typing and submitting your application. They often make clerical errors, which cause many of these problems by removing incorrect and outdated personal information, you now have a much better chance of deleting the inquiries that are tied to them. The next step is to challenge the inquiries themselves. Here's what you need to know. 

There is a standard step-by-step method for deleting inquiries from credit reports that I'm going to share with some basic tips. But there's also a hack that I'm going to teach you that's going to speed up the entire process. Step one, identify the inquiries that you want to remove. Inquiries only impact your credit for a short period of time, so you want to only dispute hard inquiries less than 12 months old. If they're older than a year, then they don't impact your scores at all and deleting them is a waste of time. Also Never dispute inquiries that are tied to open accounts. In fact, if you dispute an inquiry that's tied to an open account, you run the risk of losing that open account, along with its entire credit history. So again, never dispute inquiries that are tied to open accounts. Step two, send a round one dispute letter to the three credit bureaus and provide proof that the inquiry should be removed. When you type your round one dispute letter list the item being disputed. 

The reason for the dispute and the instructions for the Bureau's simple explanations usually work best something like I don't remember applying with this creditor. Hard inquiries can easily be removed from credit reports if they occurred without your approval without your knowledge, or if the number of inquiries exceeded what you expected from the lender. Step three. When the credit bureaus respond, celebrate or keep disputing. If the Bureau accept your dispute, they'll remove the inquiry from your credit reports. If they don't accept it, it's time to send your next round of dispute letters or warning letters or if necessary, file a complaint. This is the standard way to remove hard inquiries from credit reports. 

Now let's get to the fun stuff. If you really want to speed up the process, there is a way that you can get inquiries removed in just 24 hours. And this strategy is crazy simple, and it really works. To get an inquiry removed within 24 hours. All you need to do is call the companies that place the inquiries and demand their removal. It might sound too good to be true, but it really works. This is all done over the phone swiftly without ever writing a letter. There are two limitations that you need to be aware of. Number one, most companies require the consumer filing the dispute to be on the call. If you're disputing for yourself, you're fine. But if you're assisting someone else or calling on their behalf, this won't work. Okay. They'll only discuss this information with the consumer that has the inquiry on record. Number two, you have to provide them with a legitimate reason for removing the inquiry. They will only remove the inquiry if they pulled a credit report without your approval without your knowledge or if there was a fair credit reporting act violation somewhere in the process. And here's my final point. Personal finance experts Suze Orman compared credit inquiries to scars. She said it's only temporary, but it can still hurt your credit score. Just because inquiries have a short lifespan and they're relatively easy to dispute doesn't mean that they should be dismissed. Fight every point. 

And just a reminder, this podcast is brought to you by credit hero score. Credit Hero score is the only credit monitoring service that integrates directly with the Credit Repair Cloud get instant access to your credit reports and scores by signing up for a seven-day trial for only $1 Sign up right now at creditheroscore.com.

And now for my favorite part of the episode. Every week I feature one of our credit heroes inside our credit repair cloud Facebook community so that you can see firsthand what real people are doing as they run and grow their businesses. And today's spotlight is on Brandon singer Brandon posted a short message in the community. But it was a loud message backed up by pictures and 38 deletions. His comment said federal student loans, Capital One charge-offs, and lowest charge-offs, are all factual pick apart the inaccuracies and get to work. That's amazing. Brandon, you get it. This job is all about details and hard work. And when you commit to both, you get results. Keep up the great work.

 And I'll end by saying if you don't already have a credit repair Cloud account. Check it out. It's the software that most credit repair businesses in America run on just sign up for a 30-day free trial at creditrepaircloud.com/freetrial. And if you'd like to change lives and grow your own credit repair business, check out our credit hero challenge. It's a live experience that has helped tonnes of credit heroes to get certified in disputing and to gain confidence as they run their credit repair business on a solid foundation. So they can change a whole lot of lives and make a great living in the process. We're starting the next challenge very soon. So you want to join before the door is closed or you're gonna have a long wait until the next one. So sign up right now at creditherochallenge.com And if you're finding value in the things that I share on this podcast, click below to subscribe and follow. Also, give me a five-star review or share the show and help me to change more lives. If you'd like to read the show notes they were posted on my blog, and if you have a question or a comment, drop it down below because I read each and every one of them, I would love to hear from you. And I'll respond as soon as I can. And if you want to learn more top-secret credit repair disputing strategies, check out my interview with Bruce, Paula Tano. So take care, credit hero, and keep changing lives. Hey, everybody, it's Daniel again. And really quick, I'd like to invite you to join what I believe is the best thing we have ever created inside the credit repair cloud community. And it is a challenge that we call the credit hero challenge. If you're just planning out your business, or you're just getting started, and you dream of having a successful business of your own. So you can quit your nine-to-five and fire your boss and have financial freedom or so you can add another revenue stream to your existing business. If that's your dream, you need to get into this challenge. We created this challenge to help you to create and launch your very own credit repair business to build a proper foundation for a really successful business. This challenge is going to help you to understand the strategy, the tactics, and all the things you need to be successful at credit repair. It really is the greatest thing we have ever built, and it will change your life. So I recommend you do it right now. Stop everything pause this audio go online and go to creditherochallenge.com That's creditherochallenge.com and join the next challenge. And there's a challenge that starts in just a few days. So go get started right now at creditherochallenge.com