capital One Bank ran my credit 6 times in one month and 12 times in one year. This has ruined my FICO score. Can anything be done about this?
2006-06-19 11:15:20 · 6 answers · asked by youknowinjuneau 1 in Business & Finance ➔ Personal Finance
Look at the next junk mailer from any credit card company - you'll find the OPT OUT phone number. Call it from your home phone and you will be removed from the pre approved list that generates credit inquiries.
It'll take a couple of months to change but by year's end you should find a significant drop in junk mail and credit inquirie.
2006-06-19 13:30:13 · answer #1 · answered by Paula M 5 · 0⤊ 0⤋
Some inquiries don't count against your score. These are usually the ones you don't ask for. You can contact the credit bureaus and put a freeze on it so that no one can check your credit without your permission. You can also opt out of allowing firms that may want to make you an offer from being able to check your credit (ie. you didn't ask for a credit card, they are fishing for good prospects)
Check with the credit bureau as unsolicited inquiries usually don't impact fico so maybe there's another problem.
Lastly you may be able to file a dispute letter on your record. It doesnt' change the score but at least any lender looking will see your explanation.
2006-06-19 19:05:50 · answer #2 · answered by Lori A 6 · 0⤊ 0⤋
1) assuming that they are running the report as a result for your request for credit, then stop asking (i.e. don't apply for new lines of credit, credit cards, personal loans)
2) if they are doing it on their own, then it's not affecting your score.
3) either way, if the same company checks your score multiple times in the same month, it's only a "one time" hit to your credit score. If i were you, i'd be concerned that something else is negatively effecting your credit score. "checks" by creditors are much less detrimental than delinquencies or collections.
2006-06-19 21:22:31 · answer #3 · answered by ricketysplickity 2 · 0⤊ 0⤋
Did you request them to run the report? There are different kind of inquires as far as I know, one is when they run the report on your request and one is when these companies keep checking your report through consumer reports etc. The 2nd one does not impact your FICO score.
2006-06-19 18:41:59 · answer #4 · answered by Minderaser 1 · 0⤊ 0⤋
you should determine why they ran your credit in the first place. were you showing some late payments or delinquencies? if not, you should get a hold of the credit bureau and dispute the entries that you feel were wrong.
2006-06-19 18:19:44 · answer #5 · answered by Q&A Monster 2 · 0⤊ 0⤋
cancel your credit cards
2006-06-19 18:19:33 · answer #6 · answered by Kevin S 2 · 0⤊ 0⤋