What is an “inquiry”?
An “inquiry” shows the name of the company or individual who has requested your credit file. Each inquiry is listed on the credit file so that you know who has obtained a copy of it. In addition to checking your file when you first apply for credit, credit grantors typically request regular updates of your credit file after an account has been opened, when it is being renewed or for limit increases. These are listed as “update” inquiries in a separate section of your credit file. They are for your information only and are not displayed to other credit grantors.
An inquiry occurs when an entity requests a copy of your credit report. These inquiries can be made by credit-granting organizations, such as banks and retail stores, when you are applying for credit. Other inquiries, from requestors such as insurance companies, potential employers, or rental housing agencies, can be made after you have given the requestor your consent. The entity’s name will appear on your credit report, allowing you to monitor who accessed your credit history. When you personally check your credit report with TrueCredit.
Function: At the bottom of each page that contains a single media offering, you’ll see the field called Contribute. Listed under this title you will see one or more questions to reflect on, or what we call inquiries. If you click on the inquiry, it will bring you into the community or Share channel. You can also get directly to the inquiries by clicking on the Share tab, and scrolling down to “active inquiries”. When you click on the inquiry, you will see a few more questions that will help guide your thinking about how to respond. There is no need to answer all of the questions presented there, they are only meant to help you look at the inquiry from multiple angles, and to help different types of people engage similar themes. To leave a reflection on the inquiry, simply click Respond. You will be asked to provide a subject and to fill in the body with your response. When you are done, simply click “submit.” You will have one opportunity to respond to a specific inquiry. Once a respon
The impact from applying for credit will vary from person to person based on their unique credit histories. In general, credit inquiries have a small impact on one’s FICO score. For most people, one additional credit inquiry will take less than five points off their FICO score. For perspective, the full range for FICO scores is 300-850®. Inquiries can have a greater impact if you have few accounts or a short credit history. Large numbers of inquiries also mean greater risk. Statistically, people with six inquiries or more on their credit reports can be up to eight times more likely to declare bankruptcy than people with no inquiries on their reports. While inquiries often can play a part in assessing risk, they play a minor part. Much more important factors for your score are how timely you pay your bills and your overall debt burden as indicated on your credit report.
A. An inquiry is a notation on your TransUnion credit report showing that someone requested to utilize information contained in your credit report. Often, when you apply for credit, tenancy, employment or insurance, they request your consent to obtain a copy of your credit report to assist with their decision. Once you enter into a relationship with an organization, they may also review your credit file to monitor your account. These inquiries are not disclosed to other organizations requesting your file and will report on your file for up to one year Contact numbers are provided for each organization listed that has inquired on your file. If you do not recall authorizing their use of your information, please contact them to identify what authorization they obtained to access your information. Finally, when you receive a copy of your personal credit file, a notation will be made to your file. Your inquiry to your own file will not be disclosed to other organizations receiving your info
