DSNB Bloom is what’s known as a hard inquiry. Hard inquiries occur when a lender pulls your credit report when applying for a loan.
Generally you can remove inquiries from your report if any of the following has happened:
DSNB Bloom reviewed a copy of your credit report(s) to decide whether or not to lend to you, which appears on your report as a hard inquiry.
Lenders are required to report hard inquiries everytime they pull your credit reports because you asked for credit. They use this reporting to track how often you’re applying for credit cards, loans, etc., which in their eyes makes you a higher risk.
If you don’t recognize this company, consider what else you may have applied for around the date of the inquiry, as many times businesses will use 3rd parties to pull credit reports which regularly causes confusion.
Hard inquiries, or hard pulls, occur every time you apply for credit and a lender needs to pull your credit reports to make an informed decision whether or not to approve you.
The most common reason for these are when applying for:
Applying for multiple credit cards or loans in search of the best deal can be tempting, but it can also result in a hard inquiry on your credit report. Hard inquiries can lower your credit score and make it more difficult to get approved for credit in the future. To avoid this, do your research beforehand and only apply for credit you're confident you'll be approved for. You may also want to consider working with a credit counselor or financial advisor to develop a strategy for building credit and managing your finances responsibly.
Hard inquiries, such as DSNB Bloom, can have a negative effect on your credit score. Each inquiry results in a small ding on your score and multiple inquiries within a short period of time can lower it significantly. Hard inquiries will eventually drop off your credit report, but it can take up to two years for them to do so.
To minimize the impact of hard inquiries, limit the number of credit applications you submit and space them out over time. It's also important to monitor your credit report regularly to check for unauthorized hard inquiries, which could be a sign of identity theft.
Hard inquiries (like DSNB Bloom) will remain on your credit report for a maximum of 2 years, regardless of whether or not your credit with Department Stores National Bank/Bloomingdale's was approved. Depending on the scoring model used, hard inquiries will stop affecting your score between 3 to 12 months.
If you’ve ever received a pre-qualification offer for a credit card, auto loan, mortgage, or anything else of that nature, a soft inquiry, or soft pull, was used. Unlike hard inquiries, soft inquiries have nothing to do with you requesting new credit, and as such they’re not visible to anyone except you and do not lower your score.
If the inquiry is a result of identity theft, then yes, TBOM/CONTIN can be removed from your credit report, this is something we can help with.
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