Secret ways to remove hard inquiries from your credit report. This is a big secret. Most people
do not know that you literally can remove hard inquiries from your credit report and boost your
credit score in the process. I'm going to tell you exactly how to do it with no fluff. Let's go.
I'm going to share with you a simple step-by-step process to removing hard inquiries from your
credit report in about a week or so without having to spend any money to do it. I'm going
to share with you a secret that I just learned so that you can do this without getting your credit
report flagged. And I'm going to share with you the biggest secret so how you can avoid getting
hard inquiries going forward. So, when it comes to credit reports, you guys may be aware that
there are 3 credit bureaus, okay? When it comes to personal credit, there's Equifax,
Transunion, and Experian. Those 3 credit reporting agencies will all report all of the different
trade lines that you have. So, if you have student loans, if you have credit cards, auto loans,
mortgages, pretty much all of the debts that you receive will show up on your credit report
as a trade line. They'll also report when you open the account, how well you've paid them,
what you owe them, how much the high credit limit is, and things of that nature.
So, all of the trade lines kind of combined will put together what we call a FICO score. So, each
of the 3 credit bureaus have a different score. They should all be around the same because they're
all kind of reporting the same information. But in some cases, you want to make sure that you look
at all 3 different credit bureaus to make sure that the information that each one of them has
is accurate and that all of the scores are pretty similar. You really shouldn't have credit scores
that are like 550 on one credit report and then 650 on another one and then 750 on another one.
That's not normal. They really should be all within each other because they should all have
the same information on them and you want to make sure that yours does. That's step one.
Because they all are used by different lenders pretty much all three of those different credit
bureaus that I named you are all used by different lenders throughout the world. So, all 3 of those
credit bureaus matter. So, let's talk about what affects your personal credit score. So, like I
said, we all have those different trade lines and they're all reporting different things on
our credit report and then we all have different scores for each different bureau. However,
let's talk about what affects your credit score. So, it's not just the trade lines. Of course,
though, you need tradelines but you're going to have different types of accounts. For example,
if you have a credit card that's going to be a revolving account, if you have an auto loan that's
an installment account, meaning you're making monthly payments that are equal to each other
until the loan is paid off. If you have a personal loan that may be considered an installment loan.
A mortgage is a mortgage. That's the type of loan that it is. It is a mortgage loan. And so,
each different type of account will have different weights on how it affects your credit. Now again,
I don't work for the credit bureaus. I can't tell you their exact algorithm. But I'm going to tell
you some different things that affect your credit score and which ones affect your credit score the
most. Now, of course, you want a different mix of accounts. You don't want all credit cards on your
credit report or you wouldn't just want all auto loans. You want a different mix of the different
types of accounts. The second thing that is very important that's going to affect your credit score
is how well you pay them. This is a very, very big deal. So, you want to make sure that you
are paying all of your accounts on time. Never paying anything more than 30 days late. Even if
you paid it 15 or 20 days late, it's not going to report on your credit report. But you do not
want to ever pay anything 30 days or more late because that will be affected on your credit.
The next thing that is important and so important is your debt utilization. So, if you have credit
cards using that as an example, you will have a limit. So, if they give you a credit card and the
limit is $1,000, you really want to keep that under 30%. So, using our example, you wouldn't
want your credit balance to go over $300. If your limit is 1,000, you do not charge over $300
on that credit card. That should be like the max that you would want to charge or you would want to
charge it and then pay it off before it actually reports the credit bureau the next month, okay?
So, if you have those times, you're like, "No, I got to... You know, I had to buy a plane ticket or
to get my car fixed" Or whatever. You know, this emergency, just try to make sure that you pay
before it actually reports to the credit bureau so that your credit score doesn't go down. However,
if it does go down because you pay... You know, the balance was a little too close to the limit,
you can always go ahead and pay that credit card off and then you will get those points back. So,
these are easy ways to increase your credit score. But these things are very important to your credit
score. So, now let's talk about inquiries and how they affect your credit and how you can get
them off. So, let's talk about inquiries, okay? A credit inquiry is when someone checks your credit,
okay? When a lender checks your credit, they will do what's called an inquiry. They will do usually
a hard inquiry and pull your credit report, okay? So, on your credit report... And again,
you'll notice there's different sections. I'm not going to do a whole lesson on credit reports but
I'll have your name and your information at the top. You know, your name, your middle name, your
date of birth, your address, things like that. And then it will go into the trade lines when you
open them what the types of accounts are how well you've paid them. And then at the bottom, it has
public records. You know, if you have any charge offs that are in public records, if you have any
judgments or liens that you know people have sued you; those will be on your credit report and then
you have at the bottom inquiries. And these are all of the different people that have looked
at your credit in order to lend you money, okay? This is an inquiry. This is what lenders --Chase,
Wells Fargo, Credit Cards, Car loans, whatever; what they will do and where it will report.
So, let me give you an awesome example on hard inquiries versus soft increase and tell you how
you end up with a bunch of them and how to get them off. So, let me give you a quick example. If
you've ever bought a car, okay? I've bought tons of cars now. I actually buy cars in my business's
name and I absolutely love it because I don't have to go through all of this. But I'm going to tell
you a story of maybe just 5 or 6 years ago when I bought a car, okay? I went to the car, I filled
out the application. I said, I want to buy this car and they were going to get me financed and
they had all these great financing. But what they did was they literally pulled my credit and then
they just started sending that application to all of these different lenders. And I ended up with
all of these inquiries on my credit report from them sending it to all of these different banks.
So, just use an example. Say, I'm at the Nissan dealership, okay? And yeah, actually, I think this
was a few years we were getting like a pathfinder. This is a few years ago. And they sent it to Wells
Fargo and Chase and TD bank and this type of car loan and this... And I had all these inquiries and
it tanked my credit score, okay? I literally lost probably about 40 points just from them shopping
my credit score around to see what the best or who would approve my loan, okay? Whatever. I
don't even know what the situation is or why they did that. But you will end up... If you
shop for a car, this happens to a lot of people, okay? Where you end up with all these inquiries.
And it lowers your credit score. So, every hard inquiry is going to cost you about 3 to 7 points
on your credit score for each one that you are denied for. Okay? Now, again, this is a tricky
algorithm. I don't know how they know which ones you were approved for which ones you weren't.
But you literally lose about... On average, about 5 points for every hard inquiry that is pulled
and you are not approved for it. So, they sent my credit report to like 10 different lenders.
Of course, only one approved it or let's say 7... Let's say 3 approved it and 7 didn't.
7 people didn't approve it so I lost 5 points for those 7. That's 35 points
off of my credit score. That's a lot, guys. So, you want to get those points back because you
didn't do anything. You applied with that car dealership and you told him I was buying this
lovely Pathfinder and that should have been the end of it. But if they shop your car loan around
and they give all these inquiries, you can take your power back and I'm going to tell you how.
Because this is how you get those hard inquiries removed from your credit report. So, if you are
loving this content and you are loving these secret ways before I get into those secret ways,
make sure you go ahead and like this video. Make sure you share this video if there's people that
would enjoy this content and need to learn these things. This is very valuable information. So,
go ahead and share this video with as many people as you can because I want us to be educated. So,
let's now talk about the secret ways to remove hard inquiries, okay? Because this
is super-secret, guys. You can actually dispute that, alright? So, if you... The burden of proof
like I shared with you guys before, when it comes to your credit report, the burden of proof is on
the person that has reported that information, okay? So, if you have (for example) put in a
car application at this one dealership and they shopped it to all these people,
you didn't necessarily give them proof that... You know, they don't necessarily have proof that you
told them to pull your credit report, alright? And so, the burden of proof is going to be on them.
Now, let me give you some secret things because you're going to do these things. Alright? This is
the process, super simple. You're going to go to a website called Sage Stream,
okay? Because one of the things that when you dispute and you say, "Okay, I did not do this
inquiry. I should not have this inquiry." They're not going... So, you say... Because you're going
to dispute this with the credit bureaus. You're going to dispute this with Experian, Transunion,
or Equifax. Those are the 3 people that you would send the dispute letter to. And I'm going to
get you that in a second. But those are the three places that you're sending it to. But they are
not going to contact that lender directly and say, "Hey, give me proof." They have their own system.
And one of them is called Sage Stream you go there and you go ahead and you freeze your credit there.
And then the second one is LexisNexis. You want to go ahead and freeze it there because
those are the 2 companies that the credit bureaus will use to verify that information.
And if you have frozen those accounts and said, "I don't want anybody checking them",
a lot of times they will just not be able to verify it and it will get removed from your
credit report, okay? and then there's one more step because I want you to send this letter, okay?
Because like I said, you're going to freeze those 2 things. I gave you those steps. Freeze them.
And then last but not least you are going to send the dispute letter, alright? And so, the dispute
letter you're going to get directly from the fair credit act, okay? So, you can look up fair
credit. There's a government agency and they have a section in the law called 604, okay? And there
is a letter called form 604 that you can find directly. You will download that letter and that
is the letter that you would put the inquiries that you are disputing that you say, "I don't
recall these. I did not verify this. I didn't give my permission." Whatever it is. You know, "I don't
know what this is." And you send that off and then you send that directly to the 3 credit bureaus,
alright? That's it. But do not sign that letter because then they will have your signature. You
don't want them to have your signature. And that's it. And you put the inquiries that you
are disputing, you send that letter, you froze in the 2 places that they're going to look.
Boom! They are probably going to get removed. So, as a bonus because... I just... You know Noelle,
I just love sharing, sharing, sharing. And I just have to give you all of it. I can't just
nickel and dime you. I want to make sure you have all of the information that you need to be
successful. As a bonus, make sure again that you don't sign the letter. Make sure that you send the
letter certified mail USPS, okay? So that form 604 letter that you are going to be using to dispute,
you want to send it certified mail USPS. That way you have your proof of it, they'll take that more
seriously and it will get done. I've had this work for me and lots of other students and this is the
secret sauce. Okay, guys? You use that form that they gave you. You freeze those accounts
and then you send that letter and the most likely they will either verify that those inquiries are
real or they will stay unverified and remove them. So, you are wanting to make sure that they cannot
verify them because the burden of proof is on them to verify that they have actual evidence of you
saying, "Yes, pull my credit." And again, if especially with the car dealership situation,
in most situations, they do not have evidence that you did it you did not give them your
driver's license and your social security card and say, "Hey, Wells Fargo ,Chase Bank... All
these different banks, pull my credit." So, this is why this works. But I'll give you one little
cautionary thing. If you actually were approved for your credit card, okay? So, if you want to
have an inquiry with Chase, alright? With just credit cards. This is just applicable to credit
cards. You do not want to dispute a hard inquiry on a credit card that you actually receive where
they approved you on because they will most likely shut that credit card down. So, you want to really
do this especially in the situation that I gave you and be very cautious with it. I want you to
use this information smartly and appropriately and only really dispute the ones. Especially like
with that credit card situation with the mortgage situation where they've just pulled your credit
and just tanked your credit trying to shop you around for a better loan. That's the situation
where you want to utilize this, okay? Alright. Okay. So now, you have all of the secret ways to
remove hard inquiries from your credit report. And it is amazing. Make sure you go ahead and watch
all of the videos in this playlist because I have made an entire video series teaching you on this
absolutely free. Again, I, Noelle is a real estate entrepreneur, a millionaire, a mentor,
a mom of 5, I've been blessed in my life and I want to make sure that I'm blessing
you guys with all this information so that you can have all of the tools, all of the knowledge,
and all of the resources that you need to be successful. This is Noelle. To your success.