What hurts your credit?

One aspect that causes concern for folks checking their credit report is the inquiries section. Here with some basic facts you should know about credit inquiries is Busey Banks Susan Abbott: Q1: What are all of these credit inquiries showing up on the credit report? ·A credit inquiry is an item on a credit report that shows a business (with a "permissible" purpose) has previously requested a copy of the report. Not all inquiries count toward the credit score. Q2: Which credit inquiries do count toward a credit score? ·Only one type, those initiated by the consumer. When you apply for a mortgage, auto loan or other type of credit, you authorize the lender to request a copy of your credit report. These types of credit inquiries, prompted by your own actions, appear on your credit report and count toward your credit score. Q3: Which inquiries do not count toward a credit score? ·Your own credit report inquiries ·Credit checks made by businesses to offer you goods or services ·Inquiries made by businesses with whom you already have a credit account. ·Credit checks by prospective employers also do not count. These inquiries may appear on your credit report, but are not included in your credit score. Q4: What can I do about these pre-approved credit offers I receive in the mail? ·Inquiries into your account for account review purposes as well as preapproved offers of credit have no effect on credit scores. ·Pre-approved credit offers are sometimes found in the trash and used to apply for credit in your name. Be sure to shred these offers before you throw them out. ·You can opt-out to have your name removed from the mailing lists: contact all three credit-reporting agencies and request they remove your name from all mailing lists. Call 1-888-5-OPT OUT (1-888-567-8688) and request to be removed from all 3, or send requests by mail to: 1.Options/Equifax, P.O. Box 740123, Atlanta, GA 30374-0123 2.Experian, 901 W. Bond St., Lincoln, NE 68521 3.Transunions LLCs Name Removal Option, P.O. Box 97328, Jackson, MS 39288-7328 Requests should include the following: 1.First, middle, and last names (including Jr., Sr., III) 2.Current address (previous address if youve moved within 6 months) 3.Social Security Number 4.Date of birth 5.Signature