Credit inquiries are not something that should always be feared. Sure, they can harm your credit score. But they are also harmless in many ways. The trick is to make sure you do not make multiple inquiries for many resources within an extended period of time. Sometimes that is difficult to control. There are also instances when companies will need to make an inquiry about your credit score in order for you to obtain one of their services. I know this can be troubling, and unwanted. So is there a way you can prevent those companies from making those credit inquiries every single time?
Unauthorized Inquiries
First of all, you need to make sure every inquiry that is made about your credit report is authorized by you. If it is not, then get it taken off your report immediately. You do not want something to potential hurt you, especially if it was not authorized by you. Don't be fool by someone telling you that you have been pre-approved, or anything of that nature. There is no reason to settle for something, especially if there are inherent negative effects. The goal is keep your credit report as clean as possible at all times. Things like unauthorized inquiries can negatively affect you and are not worth it. Get those things removed as quickly as you can. Because it is not something that you want hanging over your head.
Is Prevention An Option?
Well unfortunately, companies will require an inquiry if they are going to allow you to apply for whatever they are selling. That is just the way it is. But many times you can prevent this by already having your credit report on your person. You also need to be familiar with it so you can answer the questions that will potentially prohibit people from making that inquiry. So there may not be much you can do to stop companies from inquiring, but there are ways you can get around it. It will just vary on the nature of service you are applying for, and how the company deals with the credit inquiries.
All you can do is be aware of how the inquiries work. If you are familiar with the process, then you can look for advantages. Also remember to be aware of how your credit report looks. That will save you a lot of time and trouble in the long run. That even applies to other aspects of your finances, not just inquiries. So do not panic, because inquiries are not the end of the world. Just know that there can be a limit, and be aware of when that limit is approaching.
Additional Resources:
Trey Knox
Team Your Credit Network