The Process for Removing Enquiries from your Credit File

Information verified correct on September 30th, 2016
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How to remove excessive enquiries for credit from credit files

No matter how much money you wish to borrow, be it as little as $500 or as high as $500,000, there is no guarantee that the lender in question will approve your application. The amount of money you want to borrow, in fact, might not have as much to do with the lender’s decision making as you might think. Just how your credit file looks plays a crucial role in your application for credit, and if it comes with too many enquiries for credit, the same can affect your ability to get credit adversely. Is there anything you can do to remove enquiries from your credit file? Luckily, yes.

Why would I need to remove an enquiry from my credit file?

Every application you submit for credit, which can be for a credit card, a store card, a car loan, or a home loan, finds a mention on your credit file. If you don’t apply for credit often, this is not really a problem, but if you do, it can be.

A common mistake people make is applying for credit without waiting enough in between applications. For example, if a lender refuses your application for credit, you might consider applying with a different lender soon after. If the second lender does not approve your application, you might turn to a third almost immediately. This, as you’ll see, is a folly.

When you apply for credit, the creditor, in all likelihood, would review your credit file. No creditor views too many credit enquiries with favour, and don’t be surprised if this is the reason for your failed credit applications. A typical lender, you should know, would think of such an applicant as a serial borrower, and this can lead to a failed application.

If you’re considering applying for credit, and if you have too many credit enquiries on your file, you would need to remove any possible enquires to increase your application’s probability of approval.

How can I remove an enquiry from your file

Removing an enquiry or more from your credit file requires some effort on your part, and you also have the option of seeking professional assistance. For professional help, you can turn to companies that offer assistance in repairing credit, and if you choose to get help, here’s what the process will entail.

  1. Get and review your credit file. Start by getting a copy of your credit file, and go through all the credit enquiries on record. Count the total number of enquiries, and establish how many you want removed. Know that as few enquiries on your file as possible is ideal, but accomplishing this is easier said than done.
  2. Provide information. After you find a suitable company to work with, provide them with as much information as possible. This information would essentially relate to all your previous applications for credit. At this stage, expect the company you’re working with to charge an initial fee.
  3. Review of informationThe company in question reviews all the information you provide, and if it feels it cannot help, it informs you of the same, and you can expect a refund of the initial payment. If the company feels it can be of assistance, it moves forward with your case.
  4. Addressing specific enquiriesAt this stage, you have to provide details of the specific enquiries you want removed, and bear in mind that the removal of each would attract a separate fee. The company you’re working with then contacts the creditors in question, and it tries to get them to remove their enquiries. If they agree, they do so in writing, and when this happens the process to remove the particular enquiry gets underway. At this stage, you might have to pay a final fee.

If you plan to work of removing enquiries from your credit file on your own, you’ll have to prepare letters to send to each creditor asking them to remove their enquiries. Know that if a creditor did not have proper authorisation from you to access your credit file when it did, you can look forward to the removal of the given enquiry.

Once the removal of any unwarranted enquiries from your credit file is complete, getting a fresh copy of your credit file and reviewing it is a good idea. If you still find enquiries that shouldn’t be there, get in touch with the company you’re working with to rectify the same.

What errors can I look out for on my credit file?

When you’re reviewing your credit file, there are certain errors you should watch out for, which include the following.

Defaults

Your application for credit stands little chance of approval if your credit file finds mention of multiple instances of defaults.

What are defaults and how can they impact my credit file? If you miss making a repayment it counts as a default, and every such instance finds a mention in your credit file. The impact of multiple defaults of your credit file is such that they can lead to unsuccessful applications for credit.

What can I do if I have defaults on my credit file? There are instances when defaults appear on credit files by mistake, and you should keep a particular eye out for such instances. If you find any incorrect default listings, you can take measures to remove them.

What can you do?
The simplest solution is to try and repay your debts as quickly as possible, and you can even consider cancelling certain credit cards. If you’ve transferred balances from old cards to a new card, remember cancelling the old cards once the transfer is complete, failing which, they’ll continue to appear on your credit file. Bear in mind that when you don’t close an account you’re not using, its maximum credit limit continues to appear on your credit file as credit available to you.

What should I consider when trying to improve my credit file?

If you wish to improve your credit file, know that the task is not particularly easy, and it’s important that you approach the process with caution.

  • Areas you cannot fix. When you review your credit file, know that there are aspects that you can fix and aspects that you cannot. For example, if there’s mention of a loan you’ve still not paid off, you can’t expect the lender in question to remove its mention. Your priority, on the other hand, should be on fixing mistakes or reducing the number of credit enquiries.
  • Unqualified services. Not every credit repair company in Australia is as good, and this field is not devoid of its share of unscrupulous elements. As a result, make sure you choose a reputable and trustworthy company, even if it means spending a little extra.
  • Overnight fixes. If you come by a business or an individual claiming to fix your credit file overnight, you’ve got reason enough to be wary, simply because making improvements in credit files requires not just effort, but time as well.

What can I do if a provider declines my application?

If a credit provider declines your application for credit without giving a suitable reason, which is often the case, you should consider going through your credit file. This is because there’s a good possibility that the lender came by something in your credit file that led to an unsuccessful application.

Going through your credit file should give you a clear indication of what your credit history looks like, and if you suffer from poor creditworthiness, take heart in knowing that you can take steps to repair your credit over time. While you can attempt to repair your credit on your own, you can also turn to a credit repair company. Don’t apply for credit again until you take steps to fix your credit, because doing so would only have an adverse effect on your credit file.

Learn more about credit card repair

Conclusion

Removing enquiries from your credit file can have a much required positive effect on your creditworthiness, but doing this requires some time and effort. If you feel you’re not up to it on your own, you can get in touch with a credit repair company for help, and given the number of options, it’s good that you compare a few before choosing any one.

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Frequently asked questions

How long do credit enquiries stay on my credit file?

Credit enquiries stay on your credit file for five years. Mentions of defaults also stay on your file for five years.

I have a default showing on my credit file that I still haven’t repaid. How can I get it removed?

You cannot get a lender to remove a default listing until you pay the arrears. Once you pay what’s due, the same finds a mention on your credit file, but mention of the default stays on file for five years.

I contacted multiple credit repair companies and they told me they can’t help. What can I do?

If credit repair companies have declined to offer assistance in your case, you should start by trying to get your finances on track. If you have existing credit cards and/or loans, try to repay them in a timely manner, or speak to the creditors and try to work on alternate payment plans. Try to save some money in a savings account every month, and consider getting term deposits in time. These steps would have a positive bearing on your financial health in the future.

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38 Responses to The Process for Removing Enquiries from your Credit File

  1. Default Gravatar
    Nic | September 21, 2016

    Is an enquiry on a credit report a bad thing?

    • Staff
      May | September 22, 2016

      Hi Nic,

      Thank you for your question.

      If you will have too many enquiries on your file, that would negatively affect your chances of approval for credit.

      An enquiry will appear on your credit file every time you submit an application for any form of credit such as credit card, home loan, personal loan, car loan, etc. These will all be mentioned in your file. So as soon as the creditor reviews your file, that will be recorded.

      Cheers,
      May

  2. Default Gravatar
    Nic | September 21, 2016

    Hello,
    I have just opened my credit report and I have 1 credit card that’s paid off but still on there as well as another GE money card that I was approved for but cancelled as I didn’t require it. Is there any reason they would both still be on there?

    • Staff
      May | September 22, 2016

      Hi Nic,

      Thanks for your question.

      Information is kept on file for a number of years. For instance, credit applications, enquiries and overdue accounts are held on your file for 5 years. If you want to have a good understanding of your credit file, you may like to read this page for your guide.

      Cheers,
      May

  3. Default Gravatar
    mary | August 3, 2016

    Hi, I have just received a copy of my credit file and there aren’t any enquiries/defaults on my file it is perfectly clear but a debt company is accessing my file at least once a month under accesses I don’t understand why they are doing this as I don’t have any bad debts listed against me. Any ideas?

    • Staff
      May | August 4, 2016

      Hi Mary,

      Thank you for your inquiry.

      Usually, when you apply for a credit, the creditor/lender, will most likely review your credit file. You may want to double check if you have applied for a credit with that company some time ago. If you find that a creditor did not have proper authorisation from you to access your credit file when it did, you can look forward to the removal of the given enquiry. Our guide above on removing enquiries from your file can be of help.

      Cheers,
      May

  4. Default Gravatar
    Raji | March 25, 2016

    I have 10 enquirers in my credit file but recently I have 4 enquirers so I want to remove that so can you help me with that please

    • Staff
      Debbie | April 1, 2016

      Hi Raji,

      Thanks for your inquiry.

      Unfortunately, we are unable to assist you on removing enquiries from your credit file as you’ve come through finder.com.au, an online comparison service and we can only provide general information about credit cards features and other benefits.

      You may wish to speak directly to credit repair companies, they’ll be more happy to assist you and provide more alternate payment plans.

      Cheers,
      Debbie

  5. Default Gravatar
    michelle | February 8, 2016

    Is there a sample letter in which we can give to the creditors to dismiss our inquiries from our credit file?

    • Staff
      Jonathan | February 8, 2016

      Hi Michelle, thanks for your inquiry!

      Unfortunately we do not currently have a sample letter/ template to dismiss inquiries from a credit file.

      Cheers,

      Jonathan

  6. Default Gravatar
    Kanish | December 4, 2015

    Hi,
    I got approx. 10 credit inquiry. Back in FEB 2015. I applied credit cards which were declined. I didn’t keep a track on my credit score and I am Apart from credit inquires, rest everything is clear. Is that possible to fix those inquiries. Current score is below average.
    Thank you

    • Default Gravatar
      blackbird | January 29, 2016

      I have 4 enquiries that have been paid out,2 have been paid out more than 3yrs ago.
      Why are the enquiries still listed?
      Thanks in advance.

    • Staff
      Jonathan | February 1, 2016

      Hi Blackbird, thanks for your inquiry!

      If any enquiries are still listed on your credit file you can contact the respective financial institution whom the records are with to request them to be removed.

      Cheers,

      Jonathan

    • Staff
      Jonathan | December 7, 2015

      Hi Kanish, thanks for your inquiry!

      If you have any remaining credit inquiries which are incorrect you can remove them by using a credit repair service.

      Cheers,

      Jonathan

  7. Default Gravatar
    | November 20, 2015

    I have too many credit enquiries that cause my credit score go down.
    Does my credit score goes up monthly?
    If so, how much does it go up every month?

    • Staff
      Jonathan | November 22, 2015

      Hi Bostan, thanks for your inquiry!

      Credit scores improve with positive financial signals such as paying your bills on time, rather than increasing with time. To find out more about the factors that contribute to your credit score total please refer to this guide.

      Cheers,

      Jonathan

  8. Default Gravatar
    bostan | November 10, 2015

    I have too many credit enquiries in my file that caused my credit score too low.
    How long should I wait for my score to go up?

    • Staff
      Ysa | November 11, 2015

      Hi Bostan Rahimi,

      Thanks for your inquiry.

      Credit card bankruptcy, defaults and enquiries are kept on your credit file for two years from the annulment date or five years starting from the day when the default began – whichever is later. If you have applied for several enquiries for a short span of time, it may have a negative effect on your credit.

      You may wish to check this page for a guide on how you can repair your credit rating.

      I hope this has helped.

      Cheers,
      Ysa

  9. Default Gravatar
    cory | July 27, 2015

    Hi there,

    I was wondering if i can remove credit enquiries instead of using a credit repair company?

    • Staff
      Jonathan | July 28, 2015

      Hi Cory, thanks for your inquiry!

      Credit enquiries can be removed if there is supporting evidence of the claim for the record to be removed. Credit enquiries/ applications will remain on an individual’s credit file for up to 5 years.

      Cheers,

      Jonathan

    • Default Gravatar
      cory | July 29, 2015

      So what has happened was, Telstra had put a default on my credit file 3 years ago. I had not noticed that I was being rejected a lot for credit, so I purchased my credit report last year in December. My report had the default and many credit enquiries, I contacted Telstra and they have since removed the default but the credit enquiries are still there. What i’m curious about is that i was being rejected due to a default that was put there incorrectly and the numerous credit inquiries have impacted my score greatly. How can i get them removed? Should i seek legal advise? If so who is the best to ask?

    • Staff
      Jonathan | July 30, 2015

      Hi Cory, thanks for your inquiry!

      In the event that credit records have been incorrectly placed on your credit file it can be ideal to consult with a credit repair service, who specialise in cleaning up incorrect listings on credit files. Please see this page for more details on this process.

      Cheers,

      Jonathan

  10. Default Gravatar
    varun | January 31, 2015

    Is it possible to remove credit enquiry. and what is the process.

    • Staff
      Jonathan | February 2, 2015

      Hi Varun,

      Thanks for your inquiry!

      Please see this page for more information on credit repair.

      I hope this helps!

      Cheers,

      Jonathan

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