Secret Ways To Remove Hard Inquiries From Credit Reports - YouTube

Secret ways to remove hard inquiries from your  credit report. This is a big secret. Most people  

do not know that you literally can remove hard  inquiries from your credit report and boost your  

credit score in the process. I'm going to tell  you exactly how to do it with no fluff. Let's go.

I'm going to share with you a simple step-by-step  process to removing hard inquiries from your  

credit report in about a week or so without  having to spend any money to do it. I'm going  

to share with you a secret that I just learned so  that you can do this without getting your credit  

report flagged. And I'm going to share with you  the biggest secret so how you can avoid getting  

hard inquiries going forward. So, when it comes  to credit reports, you guys may be aware that  

there are 3 credit bureaus, okay? When it  comes to personal credit, there's Equifax,  

Transunion, and Experian. Those 3 credit reporting  agencies will all report all of the different  

trade lines that you have. So, if you have student  loans, if you have credit cards, auto loans,  

mortgages, pretty much all of the debts that  you receive will show up on your credit report  

as a trade line. They'll also report when you  open the account, how well you've paid them,  

what you owe them, how much the high  credit limit is, and things of that nature.  

So, all of the trade lines kind of combined will  put together what we call a FICO score. So, each  

of the 3 credit bureaus have a different score.  They should all be around the same because they're  

all kind of reporting the same information. But  in some cases, you want to make sure that you look  

at all 3 different credit bureaus to make sure  that the information that each one of them has  

is accurate and that all of the scores are pretty  similar. You really shouldn't have credit scores  

that are like 550 on one credit report and then  650 on another one and then 750 on another one.  

That's not normal. They really should be all  within each other because they should all have  

the same information on them and you want to  make sure that yours does. That's step one.  

Because they all are used by different lenders  pretty much all three of those different credit  

bureaus that I named you are all used by different  lenders throughout the world. So, all 3 of those  

credit bureaus matter. So, let's talk about what  affects your personal credit score. So, like I  

said, we all have those different trade lines  and they're all reporting different things on  

our credit report and then we all have different  scores for each different bureau. However,  

let's talk about what affects your credit score.  So, it's not just the trade lines. Of course,  

though, you need tradelines but you're going to  have different types of accounts. For example,  

if you have a credit card that's going to be a  revolving account, if you have an auto loan that's  

an installment account, meaning you're making  monthly payments that are equal to each other  

until the loan is paid off. If you have a personal  loan that may be considered an installment loan.  

A mortgage is a mortgage. That's the type of  loan that it is. It is a mortgage loan. And so,  

each different type of account will have different  weights on how it affects your credit. Now again,  

I don't work for the credit bureaus. I can't tell  you their exact algorithm. But I'm going to tell  

you some different things that affect your credit  score and which ones affect your credit score the  

most. Now, of course, you want a different mix of  accounts. You don't want all credit cards on your  

credit report or you wouldn't just want all auto  loans. You want a different mix of the different  

types of accounts. The second thing that is very  important that's going to affect your credit score  

is how well you pay them. This is a very, very  big deal. So, you want to make sure that you  

are paying all of your accounts on time. Never  paying anything more than 30 days late. Even if  

you paid it 15 or 20 days late, it's not going  to report on your credit report. But you do not  

want to ever pay anything 30 days or more late  because that will be affected on your credit.  

The next thing that is important and so important  is your debt utilization. So, if you have credit  

cards using that as an example, you will have a  limit. So, if they give you a credit card and the  

limit is $1,000, you really want to keep that  under 30%. So, using our example, you wouldn't  

want your credit balance to go over $300. If  your limit is 1,000, you do not charge over $300  

on that credit card. That should be like the max  that you would want to charge or you would want to  

charge it and then pay it off before it actually  reports the credit bureau the next month, okay?  

So, if you have those times, you're like, "No, I  got to... You know, I had to buy a plane ticket or  

to get my car fixed" Or whatever. You know, this  emergency, just try to make sure that you pay  

before it actually reports to the credit bureau so  that your credit score doesn't go down. However,  

if it does go down because you pay... You know,  the balance was a little too close to the limit,  

you can always go ahead and pay that credit card  off and then you will get those points back. So,  

these are easy ways to increase your credit score.  But these things are very important to your credit  

score. So, now let's talk about inquiries and  how they affect your credit and how you can get  

them off. So, let's talk about inquiries, okay? A  credit inquiry is when someone checks your credit,  

okay? When a lender checks your credit, they will  do what's called an inquiry. They will do usually  

a hard inquiry and pull your credit report,  okay? So, on your credit report... And again,  

you'll notice there's different sections. I'm not  going to do a whole lesson on credit reports but  

I'll have your name and your information at the  top. You know, your name, your middle name, your  

date of birth, your address, things like that.  And then it will go into the trade lines when you  

open them what the types of accounts are how well  you've paid them. And then at the bottom, it has  

public records. You know, if you have any charge  offs that are in public records, if you have any  

judgments or liens that you know people have sued  you; those will be on your credit report and then  

you have at the bottom inquiries. And these are  all of the different people that have looked  

at your credit in order to lend you money, okay?  This is an inquiry. This is what lenders --Chase,  

Wells Fargo, Credit Cards, Car loans, whatever;  what they will do and where it will report.  

So, let me give you an awesome example on hard  inquiries versus soft increase and tell you how  

you end up with a bunch of them and how to get  them off. So, let me give you a quick example. If  

you've ever bought a car, okay? I've bought tons  of cars now. I actually buy cars in my business's  

name and I absolutely love it because I don't have  to go through all of this. But I'm going to tell  

you a story of maybe just 5 or 6 years ago when  I bought a car, okay? I went to the car, I filled  

out the application. I said, I want to buy this  car and they were going to get me financed and  

they had all these great financing. But what they  did was they literally pulled my credit and then  

they just started sending that application to all  of these different lenders. And I ended up with  

all of these inquiries on my credit report from  them sending it to all of these different banks.  

So, just use an example. Say, I'm at the Nissan  dealership, okay? And yeah, actually, I think this  

was a few years we were getting like a pathfinder.  This is a few years ago. And they sent it to Wells  

Fargo and Chase and TD bank and this type of car  loan and this... And I had all these inquiries and  

it tanked my credit score, okay? I literally lost  probably about 40 points just from them shopping  

my credit score around to see what the best or  who would approve my loan, okay? Whatever. I  

don't even know what the situation is or why  they did that. But you will end up... If you  

shop for a car, this happens to a lot of people,  okay? Where you end up with all these inquiries.  

And it lowers your credit score. So, every hard  inquiry is going to cost you about 3 to 7 points  

on your credit score for each one that you are  denied for. Okay? Now, again, this is a tricky  

algorithm. I don't know how they know which ones  you were approved for which ones you weren't.  

But you literally lose about... On average, about  5 points for every hard inquiry that is pulled  

and you are not approved for it. So, they sent  my credit report to like 10 different lenders.  

Of course, only one approved it or let's say  7... Let's say 3 approved it and 7 didn't.  

7 people didn't approve it so I lost  5 points for those 7. That's 35 points  

off of my credit score. That's a lot, guys. So,  you want to get those points back because you  

didn't do anything. You applied with that car  dealership and you told him I was buying this  

lovely Pathfinder and that should have been the  end of it. But if they shop your car loan around  

and they give all these inquiries, you can take  your power back and I'm going to tell you how.  

Because this is how you get those hard inquiries  removed from your credit report. So, if you are  

loving this content and you are loving these  secret ways before I get into those secret ways,  

make sure you go ahead and like this video. Make  sure you share this video if there's people that  

would enjoy this content and need to learn these  things. This is very valuable information. So,  

go ahead and share this video with as many people  as you can because I want us to be educated. So,  

let's now talk about the secret ways to  remove hard inquiries, okay? Because this  

is super-secret, guys. You can actually dispute  that, alright? So, if you... The burden of proof  

like I shared with you guys before, when it comes  to your credit report, the burden of proof is on  

the person that has reported that information,  okay? So, if you have (for example) put in a  

car application at this one dealership  and they shopped it to all these people,  

you didn't necessarily give them proof that... You  know, they don't necessarily have proof that you  

told them to pull your credit report, alright? And  so, the burden of proof is going to be on them.  

Now, let me give you some secret things because  you're going to do these things. Alright? This is  

the process, super simple. You're going  to go to a website called Sage Stream,  

okay? Because one of the things that when you  dispute and you say, "Okay, I did not do this  

inquiry. I should not have this inquiry." They're  not going... So, you say... Because you're going  

to dispute this with the credit bureaus. You're  going to dispute this with Experian, Transunion,  

or Equifax. Those are the 3 people that you would  send the dispute letter to. And I'm going to  

get you that in a second. But those are the three  places that you're sending it to. But they are  

not going to contact that lender directly and say,  "Hey, give me proof." They have their own system.  

And one of them is called Sage Stream you go there  and you go ahead and you freeze your credit there.  

And then the second one is LexisNexis. You  want to go ahead and freeze it there because  

those are the 2 companies that the credit  bureaus will use to verify that information.  

And if you have frozen those accounts and  said, "I don't want anybody checking them",  

a lot of times they will just not be able to  verify it and it will get removed from your  

credit report, okay? and then there's one more  step because I want you to send this letter, okay?  

Because like I said, you're going to freeze those  2 things. I gave you those steps. Freeze them.  

And then last but not least you are going to send  the dispute letter, alright? And so, the dispute  

letter you're going to get directly from the  fair credit act, okay? So, you can look up fair  

credit. There's a government agency and they have  a section in the law called 604, okay? And there  

is a letter called form 604 that you can find  directly. You will download that letter and that  

is the letter that you would put the inquiries  that you are disputing that you say, "I don't  

recall these. I did not verify this. I didn't give  my permission." Whatever it is. You know, "I don't  

know what this is." And you send that off and then  you send that directly to the 3 credit bureaus,  

alright? That's it. But do not sign that letter  because then they will have your signature. You  

don't want them to have your signature. And  that's it. And you put the inquiries that you  

are disputing, you send that letter, you froze  in the 2 places that they're going to look.  

Boom! They are probably going to get removed. So,  as a bonus because... I just... You know Noelle,  

I just love sharing, sharing, sharing. And I  just have to give you all of it. I can't just  

nickel and dime you. I want to make sure you  have all of the information that you need to be  

successful. As a bonus, make sure again that you  don't sign the letter. Make sure that you send the  

letter certified mail USPS, okay? So that form 604  letter that you are going to be using to dispute,  

you want to send it certified mail USPS. That way  you have your proof of it, they'll take that more  

seriously and it will get done. I've had this work  for me and lots of other students and this is the  

secret sauce. Okay, guys? You use that form  that they gave you. You freeze those accounts  

and then you send that letter and the most likely  they will either verify that those inquiries are  

real or they will stay unverified and remove them.  So, you are wanting to make sure that they cannot  

verify them because the burden of proof is on them  to verify that they have actual evidence of you  

saying, "Yes, pull my credit." And again, if  especially with the car dealership situation,  

in most situations, they do not have evidence  that you did it you did not give them your  

driver's license and your social security card  and say, "Hey, Wells Fargo ,Chase Bank... All  

these different banks, pull my credit." So, this  is why this works. But I'll give you one little  

cautionary thing. If you actually were approved  for your credit card, okay? So, if you want to  

have an inquiry with Chase, alright? With just  credit cards. This is just applicable to credit  

cards. You do not want to dispute a hard inquiry  on a credit card that you actually receive where  

they approved you on because they will most likely  shut that credit card down. So, you want to really  

do this especially in the situation that I gave  you and be very cautious with it. I want you to  

use this information smartly and appropriately  and only really dispute the ones. Especially like  

with that credit card situation with the mortgage  situation where they've just pulled your credit  

and just tanked your credit trying to shop you  around for a better loan. That's the situation  

where you want to utilize this, okay? Alright.  Okay. So now, you have all of the secret ways to  

remove hard inquiries from your credit report. And  it is amazing. Make sure you go ahead and watch  

all of the videos in this playlist because I have  made an entire video series teaching you on this  

absolutely free. Again, I, Noelle is a real  estate entrepreneur, a millionaire, a mentor,  

a mom of 5, I've been blessed in my life  and I want to make sure that I'm blessing  

you guys with all this information so that you  can have all of the tools, all of the knowledge,  

and all of the resources that you need to be  successful. This is Noelle. To your success.