How to Remove Credit Inquiries from Credit Report

Your credit plays an important role in the approval of your credit applications. It shows a detailed record of your credit history, loan inquiries, and outstanding debts. Loan Inquiries show in your credit report when a lender reviews your credit report to check your creditworthiness. But, if there are multiple inquiries in a short period, it can affect your credit score.

Let's explore the impact of credit inquiries on your credit report and how to remove inquiries from your credit report.

What Are Credit Inquiries?

A credit Inquiry is recorded when a lender accesses your credit report, when you apply for a credit card or a loan. These inquiries are of two types: hard Inquiries and soft Inquiries.

• Hard Inquiries: These inquiries are when you apply for a credit card or loan. These inquiries temporarily occur in your credit report and affect your credit score.
• Soft inquiries: These inquiries are usually made by individuals or companies to collect information from your credit report. These inquiries do not affect your credit score and are for informational purposes only.

Impact of Credit Inquiries on Your Credit Score

A hard inquiry drops your credit score a bit. The dip is temporary, and with responsible credit behaviour, you can reduce the impact. But if there are several hard inquiries in a short period, it signals credit stress and drops your score more noticeably.

When Should You Remove Credit Inquiries?

You cannot remove a valid hard inquiry from your credit report. These inquiries are part of your credit history and stay in your credit report for up to 2 years.

However, you can remove credit inquiries in some cases:

• Lender accessed your credit report without your consent
• If an entry has incorrect information, such as a wrong lender name, date, or duplicated entries, because of a data mix-up

In such cases, you can raise a dispute with TransUnion through the official website.

How to Check Your Credit Report and Identify Inquiries

To check your credit report and identify inquiries, you first need to download it and review it for any loan inquiries you did not authorise.

Here's how you can download your credit report:

1. Visit the official CIBIL website
2. Create a new account or log in to existing account
3. Fill the form with details, such as DOB, name, email, etc
4. After verification, you will get the credit report on your registered email ID

Also read: How To Read Your Credit Report?

How to Remove Inquiries from Credit Report

After you have verified your credit report and identified the wrong credit inquiry, here's what you should do:

• Log in to your CIBIL account and raise a dispute
• Outlines the specific inquiry or information, along with the relevant details
• CIBIL will process the dispute, and if everything seems good, it is forwarded to the lender
• The lender will then verify and update information in your CIBIL report. If the dispute is accepted, they will provide the correct report, and if rejected, they will update the status in your online dispute dashboard, which you can access in the logged-in section of your CIBIL account
• Consider following up with the bank or financial institution behind the credit inquiry. Request them a reason for the inquiry, and if they cannot provide relevant documentation, ask them to notify the credit bureau to remove the inquiry

Tips to Minimize the Impact of Credit Inquiries

Hard inquiries stay on your credit report for up to 2 years. Here's how you can minimise their impact:

• Do not apply for multiple loans or credit cards in a short period
• Use comparison platforms that conduct soft checks
• Space your credit applications over months
• Check your credit report regularly to monitor changes and spot errors
• Maintain good credit habits, such as paying EMIs on time, maintaining a balanced credit mix, and keeping credit utilisation low

Manage Your Financial Profile With Hero Fincorp

A hard inquiry is shown on your credit report. You cannot remove it if it is valid. Check your credit report for any inaccurate or wrong hard inquiries, and raise a dispute to get it corrected.

And when you need a loan for an emergency, travel, upskilling, or other requirements, apply for one at Hero Fincorp. With a paperless process and quick approval, you can get a loan fast. Simply install the instant loan app, and fill out the application to apply.

Frequently Asked Questions

How long do credit inquiries stay on my credit report?

A hard credit inquiry stays on your credit report for up to 2 years.

Can I remove all credit inquiries from my report?

No, you cannot remove valid hard inquiries from your credit report.

What documents are needed to dispute a credit inquiry?

You will need your PAN and Aadhaar number, along with the inquiry details and supporting documents, to dispute a credit inquiry.

How often should I check my credit report for inquiries?

You should check your credit report at least once a year, but ideally every 3 months.

Disclaimer: The information provided in this blog post is intended for informational purposes only. The content is based on research and opinions available at the time of writing. While we strive to ensure accuracy, we do not claim to be exhaustive or definitive. Readers are advised to independently verify any details mentioned here, such as specifications, features, and availability, before making any decisions. Hero FinCorp does not take responsibility for any discrepancies, inaccuracies, or changes that may occur after the publication of this blog. The choice to rely on the information presented herein is at the reader's discretion, and we recommend consulting official sources and experts for the most up-to-date and accurate information about the featured products.