Score lower because of inquiries?

Ari,

I have seen experts to recommend paying student loan installments timely because it helps to raise credit score. Since you are not defaulted on your student loan, I do not think it can lower your score.

But credit inquiries can hurt your score. Soft inquiries run by your existing creditors are not counted by credit scoring models. However, hard inquiries done by prospective creditors with your permission can hurt your score.

These inquiries generally stay in credit report for 1 ??? 2 years. If you find any discrepancy, you can dispute it with your creditors and ask them to remove this from your report.

Quicksand had a similar problem, please go through the discussion we had earlier-

http://www.debtconsolidationcare.com/forums/remove-inquiries.html

P.S. I'm not an expert, hope others will give some more points here :D

I just don't understand how why simple inquiries lower the score? It's not like anything has gone unpaid.

Ari,

The inquiries appearing in your report were done by the existing creditors? Or you have applied for some loans and new creditors ran these credit inquiries. I can remember that you are planning to buy home this summer. So have you applied for mortgage recently? Inquires done by mortgagors can hurt your score. However you can verify it with credit bureaus too.

Keep us updated, I know you will.

The apartment complex where my husband and I live runs credit checks. My score was 661 last I checked, and before that 718. It was 718 when I had half the student loans I have now. I also had some small remaining balances on a couple of credit cards, but I already paid those up, I know those sunk it a little. This makes me think that credit scores are similar to body weight, that can change sporadically depending on your level of self-discipline at the given time.

So everything is going to the right direction. You have paid credit card balances. Student loan is getting paid with time. So there is nothing wrong! The credit checks done by your apartment complex cannot hurt your score. There is no reason behind this drastic change.

Have you checked your report with other bureaus? Also you can speak to them asking for clarification.

They also said that my current car loan and one collection account from the past (thanks a lot, UpChuck) are what is holding my score down. Everything else is current though. I'm just afraid that if I contact the creditor or CA behind that collection account, it will open up a can of worms even though I settled with the original creditor.

If you have settled the account with the original creditor how can the collection account be there in your report? Didn't OC report the account when you paid it? You can dispute it with bureaus, or contact the OC directly. Avoid contacting the CA at the first place.

What about the car loan account? Is it with good standing?

The car loan payments are always paid on time. I will look into disputing that account on my credit report.