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Dear Liz: As part of our mortgage refinance, my wife and I were provided copies of our credit reports and scores by the credit union making our loan. Our scores are great, ranging from 777 to 819, but I was surprised to see in the negative remarks section a note that I had “too many inquiries.” Reviewing the list I saw one business I recognized (a new brokerage account), one of our credit card issuers and four inquiries from CBC Innovis. What is CBC Innovis and how can I tell them to butt out of my credit history? I’m just glad I have good credit and their poking around didn’t have a material effect on our ratings. Others might not be so fortunate.

Answer: CBC Innovis is a reporting agency that provides a variety of services, including offering credit reports, tax transcripts and appraisal, title and settlement services to lenders.

If the inquiries weren’t connected to your refinance deal, they might be related to a job application, because CBC Innovis also provides employment screening and Social Security number validation. It offers skip tracing and other services for collection agencies and landlords, but given your scores and your situation, those are unlikely reasons for the inquiries.

In any case, you have nothing to be worried about. The only reason you got the “too many inquiries” message is because there wasn’t much else negative to say about your credit situation, which is excellent. Inquiries in general should be a minor concern for most people, since most have little or no effect on their scores.

Unfortunately, it’s pretty tough to tell a company to “butt out” of your credit history, since a variety of companies have perfectly legal access to your information. If you really want to lock down your reports, you can consider a credit freeze, but you’ll still have to “unlock” your information to various companies when you want a loan. For more on credit freezes, visit the Consumers Union website and search on “security freeze.”

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Categories : Credit & Debt, Q&A



Liz, a potential solution to the original posters request is something I did prior to coming here to Iraq. I went on-line to Equifax and signed up for an account in which one of the features allows me to lock down my credit report. This actually worked for me…I asked my wife to go by a car dealership and look at a car I wanted to purchase. She did so and ended up going through the process of purchasing it…during the process, the dealership went to go check my credit report and my wife had to email me so I could go in and lift the lock. The system allowed me to go in and remove the lock on the account for a 24-hour period and then locked back up.