What is Credco/Quicken?
Credco/Quicken is a combination of two entities: CoreLogic Credco and Quicken Loans. CoreLogic Credco is a prominent credit reporting agency that provides merged credit reports to mortgage lenders across the country.
Quicken Loans, now known as Rocket Mortgage, is one of the leading mortgage lenders in the United States. When you apply for a mortgage with Quicken Loans, Credco/Quicken may appear on your credit report as a hard inquiry.
Why Credco/Quicken Appears on Your Credit Report
When you see Credco/Quicken on your credit report, it typically means that you’ve applied for a mortgage through Quicken Loans. As part of the mortgage application process, Quicken Loans uses CoreLogic Credco to pull a merged credit report, which results in a hard inquiry on your credit report.
The Impact of Credco/Quicken on Your Credit Score
A hard inquiry from Credco/Quicken can cause a temporary dip in your credit score. While a single hard inquiry might only reduce your score by a few points, having multiple inquiries within a short period can lead to a more significant impact. Lenders might view several inquiries as a sign that you’re actively seeking new credit, which could affect your ability to secure additional loans or favorable terms.
How Long Credco/Quicken Stays on Your Credit Report
Hard inquiries like Credco/Quicken typically remain on your credit report for up to two years. These inquiries are recorded by the major credit reporting agencies—Equifax, Experian, and TransUnion. Although the impact on your credit score lessens over time, the inquiry remains visible to lenders during this period.
Addressing Unauthorized Credco/Quicken Inquiries
If you notice a Credco/Quicken inquiry on your credit report that you don’t recognize or didn’t authorize, it’s crucial to investigate. Start by contacting CoreLogic Credco to verify the legitimacy of the inquiry. If the inquiry was unauthorized, you can dispute it with the credit bureaus to have it removed.
Removing Credco/Quicken from Your Credit Report
If Credco/Quicken appears on your credit report as a hard inquiry that shouldn’t be there, consider seeking help from a credit repair company like Credit Saint. They specialize in disputing and potentially removing various negative items from credit reports, including:
- late payments
- collections
- charge offs
- foreclosures
- repossessions
- bankruptcies
Take Action to Remove Inquiries and Improve Your Credit
If you’re struggling with a low credit score due to hard inquiries or other negative marks, consider seeking a free credit consultation with Credit Saint. They have helped many people in similar situations and can potentially help you dispute and remove negative items from your credit report.
Visit their website and fill out the form to explore your options and take the first step toward improving your credit.
Ready to Repair Your Credit?
Learn how credit repair professionals can assist you in disputing inaccuracies on your credit report.
Crediful is your go-to destination for all things related to personal finance. We're dedicated to helping you achieve financial freedom and make informed financial decisions. Our team of financial experts and enthusiasts brings you articles and resources on topics like budgeting, credit, saving, investing, and more.
