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

Hey, credit heroes. There's 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. My name is Daniel Rosen, and welcome to credit Repair Business Secrets. Credit inquiries may not sound as serious as bankruptcies or foreclosures or. 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 soft inquiries and hard inquiries. Soft inquiries typically happen when a person or a company checks your credit. And 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 bunch 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 they impact your credit scores and 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 one third 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 an 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 is added into 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 1 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 account. 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 bureaus. 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 3 When the credit bureaus respond, celebrate, or keep disputing. If the bureaus 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 letter 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 a 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 expert 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 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 tons of credit heroes to get certified in disputing and 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 doors close or you're going to have a long wait until the next one. So sign up right now@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. And if you'd like to read the show notes, they're 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. And if you want to learn more top secret credit repair disputing strategies, check out my interview with Bruce Politano. So take care, credit hero, and keep changing lives.