Dispute credit report Memphis

There are two different types of dispute credit report Memphis credit report inquiries, referred to as "soft" or "hard" in the credit world. A soft credit inquiry occurs whenever a consumer requests his or her own credit card report from a bureau or when a credit report is requested by a current creditor investigating a dispute. This type of credit inquiry is not supposed to have any effect on a consumer's credit score, since it was made at the request of the consumer himself or an established creditor. A hard inquiry, however, can lower a consumer's credit score under certain conditions.

A hard inquiry occurs when a credit report is requested by a lender considering a new loan or other parties who may have judgments or liens against the consumer. credit report credit When a credit report is requested by a court or the IRS, for example, a potential lender may be more reluctant to offer the best interest rate or the maximum loan amount. Credit bureaus do understand that a number of hard inquiries connected with housing or car loan applications are not unusual, so when a credit report is requested by more than dispute credit report Memphis one lending company for the same purpose within days of each other, it is often counted as only one hard inquiry on the credit report. order a free credit report Whenever an dispute credit report Memphis invitation for an unsolicited credit card arrives in the mail, there is always the possibility that the sender did make an inquiry into the consumer's credit status. Fortunately, when a credit report is requested by an outside interest without the consent of the consumer, the inquiry is not usually counted against the consumer's credit score. Inquiries are supposed to remain on a consumer's credit report for up to two years, although many lenders are primarily interested in the number of inquiries made in the last six months. Applying for too many credit cards or store accounts in a short period of time can make a consumer look desperate in the eyes of lenders, especially if many of those requests have been turned down. credit report government free In short, when a credit report is requested by the consumer himself or in response to dispute credit report Memphis an existing situation with a creditor, there should be little to no effect on credit scores.