How to Write a Credit Inquiry Removal Letter
Credit inquiries can impact your credit score. Hard inquiries can lower your credit score, while soft inquiries won’t have an impact. What is a Hard Inquiry? Hard inquiries, such as those made by credit card companies, mortgage companies, and other similar institutions, can have serious effects on your credit score. These types of inquiries stay […]
How to Remove Civil Judgments From Your Credit Report
What is a Judgment? Judgments on your credit report are one of the worst items that affect your credit score, and can prevent creditors from agreeing to give you loans or credit cards. A civil judgment is a ruling by a court during a lawsuit, usually for unpaid collections or debts. For example, if you […]
What Affects Your Credit Score?
What Goes Into Your Credit Score There are three credit bureaus — Experian, Equifax, and TransUnion — that each independently calculate your credit score. Your score — often referred to as a FICO score (Fair, Isaac, and Co.) — is made up from a few factors. Here’s a quick, generalized breakdown based on the widely […]
How to Get a Charge-Off Removed From Your Credit Report
Charge-offs occur when you fail to make a credit card payment for 180 days. Once you have a charge-off on your credit history, your options are limited. Can a Charge-Off Be Removed From a Credit Report? The best hope for you at this point is that the charge-off has been added in error. Credit card […]
What Is Credit, How Does It Work, and Why is Credit Important?
Have you ever wondered what the “credit” part of “credit card” means? It’s easiest to think of credit like a short-term loan, but it’s a bit more complicated than that. Credit is Borrowed Money “Buying on credit” means using borrowed money from a lender, most often through a credit card. Essentially, by buying an item […]
How to Remove Credit Inquiries From Your Credit Report
Before we get started, there’s something important to know: You can’t remove legitimate inquiries from your account. They will naturally drop off your credit report after 2 years, but should stop affecting your score after 12 months; you cannot remove them unless you dispute the veracity of the inquiry. With that being said, if you […]