It’s a common question; the answer may not be as black and white as you think. Let’s look at hard inquiries, why they might stay on your credit report, and how removing them can impact your score.

What is a Hard Inquiry?

A hard inquiry is a credit check performed by a lender before deciding whether or not to give you a loan or extend credit. Hard inquiries can stay on your credit report for up to two years and reduce your score somewhat.

On the other hand, a hard inquiry may have a significant impact if you have a good credit history of paying your bills on time and managing your debt responsibly.

Why Do Hard Inquiries Stay on Your Credit Report?

Hard inquiries stay on your credit report so lenders can see how you’ve handled credit in the past. A history of responsibly managing credit shows lenders that you’re likely to do the same in the future.

However, if you have a history of late payments or maxing out your credit cards, this could make lenders hesitant to extend your credit.

How Removing Hard Inquiries Can Impact Your Score

If you have a hard inquiry on your credit report that’s negatively impacting your score, you may be able to remove it by disputing it with the credit bureau. However, this is no guarantee that the inquiry will be withdrawn.

If you remove the hard inquiry, your credit score may increase slightly. However, removing a hard inquiry may not significantly impact your score if you have other negative items on your credit reports, such as late payments or high balances.

The Bottom Line

Hard inquiries can stay on your credit report for up to two years, but they typically only have a small impact on your credit score. Removing a hard inquiry may not significantly impact your score if you have other negative items on your credit reports, such as late payments or high balances.

If you’re trying to improve your credit score, focus on paying your bills on time, keeping your balances low, and using credit responsibly. These positive behaviors will have a much bigger impact on your score than removing a hard inquiry