What Is CBNA on a Credit Report and Does It Have Influence to My Credit Rating
If you applied for a new credit card, a new account may appear on your credit report, which would raise some questions. What do you know about CBNA on a credit report? This is the account that indicates that your credit history is currently being investigated. However, what if you didn’t apply and the record appeared? Why would anyone check your credit history?This may not be a test. Such an abbreviation may mean something else.However, we will talk about this a little later. How does a CBNA hard inquiry affect your credit report? It has minimal impact on it. However, it can negatively affect your credit rating. Therefore, most people wonder how long it would stay there. CBNA inquiry would remain on your credit report for up to two years. Sometimes a CBNA record may appear due to employee error. For example, the name of the person who requested the new credit card is similar to yours, or a mistake in the insurance number. In any event, don’t panic. Check out the best course of action below.
- Contact the company and ask for documents that could confirm that it was you who initiated the investigation. In doing so, please report possible fraud because you did not make such a request. If the requested documentation is not provided, it must be deleted at all credit bureaus.
- If you managed to remove the CBNA inquiry on the credit report, great. But don’t forget to report the potential scam to the FTC, which can be done quickly and easily by visiting their official website.
- Report a scam to three major credit bureaus (Equifax, TransUnion, Experian). It would help to prevent new fraudulent accounts from entering. Also, take advantage of the free 90-day fraud notification service.
What Does CBNA Stand for?
CBNA stands for Citibank North America. However, we mentioned above that it also can be something else. For example:
- Credit Bureau of North America. This is a collection agency. The main purpose is to collect outstanding debts. Therefore, you may have some kind of unpaid bills. In addition to writing CBNA in the report, you would also receive letters and phone calls from them. And as you know, debts affect the rating.
- Comenity Bank. Basically, this bank stores credit cards for major retail brands. And your report can only mention it if you requested a store credit card.
- Community Bank NA. It is a small bank that offers banking services to New Yorkers in Pennsylvania. The CBNA credit inquiry can be in the case of a request for a loan or line of credit.
If you want to remove CBNA from your report, it is possible (the same procedure as in cleaning up credit reports). Don’t forget to check your report periodically, it would save you from scammers. Thanks for being with us. Don’t miss new updates. See you!
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