What is CoreLogic Credco?
CoreLogic Credco is a subsidiary of CoreLogic, a leading provider of merged credit reporting services, identity verification products, and compliance solutions. When lenders require credit information from all three national credit bureaus (Experian, Equifax, and TransUnion), they can use CoreLogic Credco as a single source for that information.
CoreLogic Credco’s merged credit reports are used across various industries, including mortgage lending, auto loans, lines of credit, and tenant screening.
Why is CoreLogic Credco on your credit report?
There are several reasons why CoreLogic Credco might appear on your credit report:
Applying for credit
If you applied for a mortgage, or other types of credit that triggered a hard inquiry, CoreLogic Credco might appear on your credit report. As a go-between for some mortgage lenders and your credit information, you may not have been aware that CoreLogic Credco provided the inquiry for a lender until you see it on your credit report.
Prequalifying for credit
CoreLogic Credco also performs soft inquiries for prequalification purposes. If you have been prequalified for a mortgage, auto loan, or another type of credit, CREDCO may appear on your credit report for that soft inquiry.
Refinancing an auto loan
When you refinance your vehicle, your lender has to perform a hard inquiry, and CoreLogic Credco may have pulled your credit on behalf of your lender.
Applying for rental housing
CoreLogic Credco offers tenant screening services for landlords. If you applied for an apartment or other rental accommodations, the landlord may have used CoreLogic Credco to pull a tenant screening for a background check on you.
Undergoing credit counseling
Getting credit counseling services that utilize CoreLogic Credco’s Instant Merge SoftTouch credit reports will cause CoreLogic Credco to show up on your credit report. This is considered a soft inquiry and does not impact your credit scores.
Identity theft or fraud
If you are a victim of identity theft or fraud, and you’ve never applied for new credit using a CoreLogic Credco report, it’s possible someone opened a credit account in your name.
Is CoreLogic Credco a legitimate company?
CoreLogic Credco is a legitimate consumer credit reporting agency that resells your credit information as three-bureau merged credit reports to lenders. Following the Fair Credit Reporting Act (FCRA), CoreLogic Credco discloses your information only to mortgage lenders, landlords, or other creditors you have authorized to view your information for lending purposes.
How long do hard inquiries stay on your credit report?
Whether you get approved for the mortgage makes no difference. The Credco hard inquiry will remain on your credit report for up to 2 years. Each time you make an inquiry, it is recorded by one or all of the three major credit bureaus – Equifax, Experian, and TransUnion.
Can I remove a Credco credit inquiry from my credit report?
You can only remove a CoreLogic Credco inquiry from your credit reports if the information is inaccurate. Unless CoreLogic Credco made a mistake or you can prove someone committed identity theft against you, you cannot have the item removed from your consumer report. All other items, such as hard and soft inquiries due to applications for lines of credit or counseling services, typically cannot be removed.
Dealing with Unauthorized Inquiries
Your credit reports serve as a historical record of your credit activities, and each inquiry into your report can have a potential impact on your credit score. While many inquiries are the result of legitimate activities, such as applying for a new line of credit or a loan, unauthorized inquiries can sometimes appear. Addressing these promptly is crucial for several reasons.
- Potential impact on credit score: Multiple inquiries on your credit report within a short span can reduce your credit score. This is especially concerning when these inquiries aren’t the result of your own actions.
- Indication of identity theft: Unauthorized inquiries can be a sign of more significant issues, such as identity theft. If someone is attempting to open accounts in your name without your knowledge, it’s crucial to act swiftly to prevent potential financial damage.
- Protection of personal information: By addressing unauthorized inquiries, you are also taking steps to ensure your personal and financial information remains secure.
If you find an unauthorized inquiry made by CREDCO or any other entity:
- Contact CoreLogic Credco immediately: Before jumping to conclusions, it’s essential to gather more information. Sometimes, inquiries can be the result of a misunderstanding or a clerical error. By reaching out to CoreLogic Credco using the contact information provided below, you can clarify the reason behind the hard inquiry.
- Document everything: As you converse with representatives, take notes about your discussions. Dates, times, names of the representatives, and the nature of the conversation can all be valuable if you need to escalate the issue.
- Formal dispute: File a dispute with the relevant credit bureaus. This can be done by sending a credit dispute letter to each of the credit bureaus that show the Credco hard inquiry on your credit report.
- Monitor your credit reports: After addressing the issue with CoreLogic Credco, it’s a good practice to keep an eye on your credit reports. Ensure that the unauthorized inquiry is removed and be vigilant about spotting any other potential discrepancies.
CoreLogic Credco Contact Information
Credco Consumer Services Department
P.O. Box 509124
San Diego, CA 92150
Phone number: (877) 532-8778
Addressing CREDCO and Other Hard Inquiries with Expert Assistance
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