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Hard inquiries serve as a timeline of when you have applied for new credit and may stay on your credit report for two years, although they typically only affect your credit scores for one year. Depending on your unique credit history, hard inquiries could indicate different things to different lenders.
In general, credit inquiries have a small impact on your FICO Scores. For most people, one additional credit inquiry will take less than five points off their FICO Scores. For perspective, the full range for FICO Scores is 300-850. Inquiries can have a greater impact if you have few accounts or a short credit history.
According to FICO, a hard inquiry from a lender will decrease your credit score five points or less. If you have a strong credit history and no other credit issues, you may find that your scores drop even less than that. The drop is temporary.
In general, credit inquiries have a small impact on your FICO Scores. For most people, one additional credit inquiry will take less than five points off their FICO Scores. For perspective, the full range for FICO Scores is 300-850. Inquiries can have a greater impact if you have few accounts or a short credit history.
There are really only two ways to remove inquiries from your credit report: wait for them to age off or, if they are erroneous, file a formal dispute with each of the credit bureaus. This is the fastest and most surefire way to correct your credit history and boost your credit score.
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In general, six or more hard inquiries are often seen as too many. Based on the data, this number corresponds to being eight times more likely than average to declare bankruptcy. This heightened credit risk can damage a persons credit options and lower ones credit score.
A single hard inquiry will drop your score by no more than five points. Often no points are subtracted. However, multiple hard inquiries can deplete your score by as much as 10 points each time they happen.
Good news: Credit scores arent impacted by checking your own credit reports or credit scores. In fact, regularly checking your credit reports and credit scores is an important way to ensure your personal and account information is correct, and may help detect signs of potential identity theft.
A credit repair company may promise to remove a hard inquiry from your credit history for a fee, but inquiries can only be removed if theyre the result of fraud. Instead of paying a company to do it for you, you can dispute a fraudulent inquiry by yourselffor free.
If you find an unauthorized or inaccurate hard inquiry, you can file a dispute letter and request that the bureau remove it from your report. The consumer credit bureaus must investigate dispute requests unless they determine your dispute is frivolous.

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