Credit Reports

Understanding inquiries

Every time someone inquires about your credit, that information can be placed on the credit bureau report. If you run around and apply for lots of credit, it will most likely result in many "inquiries" shown on your report. Creditors are concerned when they see "excessive inquiries". (Sometimes creditors might also assume that the inquiries are negative because you weren't issued credit.) If you plan to shop for a car all weekend, be careful how many dealers you negotiate with. The Fair Credit Reporting Act allows only authorized inquiries. You can challenge an inquiry if you feel the company was not authorized by you to inquire.