THD/CBNA 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:
THD/CBNA 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:
It's important to keep an eye out for unexpected inquiry activity on your credit report. Make sure you obtain a copy of your credit file from one or more major bureaus, and review it thoroughly. If any inquiries are unfamiliar or incorrect, follow the necessary steps to dispute them properly with the relevant authorities.
IYou have the right to dispute the inquiry. Start by submitting a formal request with the relevant credit bureau or creditor – easily done online, over-the-phone or via mail. The party will then investigate and provide feedback within reasonable timeframes; follow up accordingly and keep checking your reports to see if it’s been removed.
Applying for credit is an important factor in a financial journey, but too many inquiries can be detrimental to your score. To avoid this red flag, limit the number of applications you submit and space them out over time instead of applying multiple at once.
Responsible credit application habits are key in preserving good credit. When applying for any type of loan or line of credit, it is important to research beforehand and determine your likeliness of approval-- unnecessary inquiries can have a harmful effect on your score. To stay ahead of the game, regularly monitor your report for hard inquiries as well as signs that could suggest fraud. With careful awareness you can help protect against potential damage caused by hard inquiries.
Hard inquiries (like THD/CBNA) will remain on your credit report for a maximum of 2 years, regardless of whether or not your credit with The Home Depot/Citibank North America 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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