Wednesday, October 03, 2007

Inquiry on my credit report. How much does it hurt my score.

I opened a new bank account and the bank mistakenly sent me a new credt card even though I emphasized that I did not want one. Since I had not submitted enough financial information, the application for the card I didn't want was not approved for use and now shows up as an inquirey. I did not attemt to activate or use the card. How much does this inquiry affect my score? How can I get it erased from my record? Experian does not seem to offer a mailing address for disputes and seems to require one of their reports vs. a 3 in 1 from another agency (Equifax).
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Inquries do not really hurt score unless you pile on about 20 or something.
Most inquires cannot be removed and they are not worth troubling yourself over.
You can try to dispute them with this form. Credit Dispute Form
1-5 inquiries have no efffect. 5-20 probably about 5-20 points max.

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