Unauthorized Credit Inquiries

[Horace]

I have six credit inquiries on my credit report from companies that I didn’t authorize or asked to check my credit.

have just one credit card, and my credit report shows that 4 banks, one credit card company and one insurance company has asked to review my credit report.

I’ve checked to see if I have unfamiliar new open account because I thought someone stole my identity, but I have none.

What should I do about it? Dispute these inquiries? I’m worried that it hurts my credit.

Thank you

[Tracy Winters]

No need to worry. It’s normal

You have absolutely nothing to worry about. This happens all the time, and rarely has any affect.

These credit inquiries may look like hard inquiries, but in fact they are not. They appear on your report, but are not considered by the Fico formula and do not impact your score.

The Fair and Accurate Credit Transactions Act (FACT Act) gives the credit bureaus permission to sell your credit history information to credit lending companies. Consumers have the right to exclude themselves from receiving such pre-approved mailing offers.

Any time a company or other entity looks up your information – it generates a credit inquiry in your report. Even when you check your credit report – an inquiry is generated. However, as explained above, because these inquiries are NOT initiated by your search for new credit, they are NOT considered by the Fico formula.

You can request the 3 major credit bureaus (Equifax, Experian and TransUnion) to exclude your name from lists for pre-approved, unsolicited credit and insurance offers by calling 1-888-5-OPT OUT (1–888–567–8688).

Hope this clear things for you

[Author]

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