Hard Inquiry Removal Services For Your Credit Report
There are many ways to improve your credit score, and some paid services claim they can do just that. One such service is called a hard inquiry removal service. We’ll explain what makes up your credit score, credit inquiries, the best company to remove credit inquiries, and how Upwardli can help improve your credit score.
Factors in your credit score
Your credit score is made up of 5 factors and each represents a percentage of your score:
Payment history 35%: If your payments are on time, late, or delinquent
Utilization 30%: How much of your available credit you’re using. Ideally it should be under 30%.
Length of credit history 15%: How long you’ve had credit, the longer the better
New credit 10%: How often you’ve recently applied for credit
Types of credit 10%: How many types of credit accounts you have, a mix is better
Soft and hard inquires
Credit inquires happen when you apply for new credit. There are two types of credit inquiries, soft and hard. Soft inquiries happen when you do things like check your credit score on a site like Credit Karma or when you enter your personal information into a lending site in order to see what interest rate you may be offered. Soft inquiries do not impact your credit score.
Hard inquires do impact your credit score and fall under the New Credit portion of your credit score. Hard inquiries occur when you do things like apply for a credit card or apply for a loan after checking your rates.
Inquiry removal
Even the best inquiry removal service can’t remove legitimate hard inquiries from your credit report. The only way to have a hard inquiry removed is to prove that it’s either fraud or a mistake.
Fraud could happen if someone uses your information to apply for credit without your knowledge, identify theft. A mistake could happen if someone with a similar name or Social Security number to yours applied for credit and they or the company doing the credit check mis-entered the information and your information came up.
Some inquiry removal companies require customers to pay per inquiry removal and others charge a flat fee. There are a lot of scams in this area though so if you choose to use such a service, do plenty of research. See if they have any complaints with the Better Business Bureau and check online reviews. The best hard inquirey removal services won’t make any guarantees or promise to remove legitimate inquires.
Improve your credit score with Upwardli
Because hard credit inquires only make up 10% of your credit score and stay on your credit report for just two years, removing them if they can be removed is not really the best use of your time if you want to really improve your credit score.
Upwardli can help you improve your credit score in a way that will make a real impact! With Upwardli you can:
Check your credit score and track changes
Target the key factors impacting your score
Access step by step guides to grow and improve your credit score fast
