THD/CBNA is among the codes that show up in your credit reports after you apply for the Home Depot credit card issued by Citibank. The acronym refers to The Home Depot/Citibank Northern America and could also be referred to as THD/CBNA This article will provide you with everything you must be aware of this code.
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Why & How THD/CBNA appear on your credit report?
The Home Depot is the biggest home improvement retailer in the US and offers a broad variety of home improvement items from appliances for the home to construction materials. The company also cooperates with Citibank North America to issue credit cards for consumers to their customers. The credit cards offered comprise:
- The Home Depot Commercial Revolving Charge Card
- The Home Depot Consumer Credit Card
- The Home Depot Commercial Account
In the event that you’ve applied for one of the three credit cards listed above and have approved Citibank to check your credit report, you could see a hard credit inquiry on the credit file. In addition, this number could appear on your credit reports in the event that you’re listed as an authorized person by the principal cardholder..
Hard Enquiry
An inquiry into your credit history is a hard one. It occurs whenever you apply for credit and the creditor or lender conducts a credit inquiry. It could be for the purchase of a home, mortgage or credit card, car loan or cellphone, insurance and, sometimes, even an application for employment.
Hard inquiries typically lower your credit score just a few points. But if you’re submitting more than you need, especially over the short time, they could begin to accumulate and cause some damage.
Soft enquiry
Soft inquiries typically occur when a company examines your credit score to conduct a background investigation. It could also occur when the credit card issuer or lender examines your credit score to decide if you are qualified for a loan. Sometimes, a soft inquiry could even be made by a credit card issuer, who is merely taking a look at your current credit score.
Soft inquiries are not a factor that has an any effect on your credit score.
Can you eliminate a THD/CBNA request for hard information from credit report?
Unfortunately, you aren’t able to erase an inquiry by THD/CBNA from your credit report when you apply for one of the Home Depot’s Credit Cards. The information will remain on your credit file until at least two years after the date of application. There’s no reason to be concerned about it since it will not impact your score on credit for long.
The problem is when the THD/CBNA is listed on your credit report without you knowing that there is no evidence that you are an authorized customer or holder of the Home Deport credit card issued by Citibank. If this happens you need to be worried since you could become the victim of identity theft or an incorrect entry. Whatever the case, you must be quick to resolve the issue before it affects your financial records.
How can I resolve the issue of CBNA/THD on the Credit report?
If acronyms are displayed without requesting an Home Depot credit card or being a registered user, it’s an indication of concern. In some instances customers could be the victims of fraud or errors in the system.
Directly get in touch with Citibank
Citibank is the company responsible for providing you with all the required information. It is possible to identify the person who issued the authorization or made the application for the card.
In certain situations entities could misinterpret basic information like addresses, social security numbers , or names and can connect an incorrect person to the wrong. These kinds of situations can be solved by the institution with no issues. However, if the data is based on your personal information and you claim it wasn’t you and you are not sure, a complaint must be made.
Make sure you freeze your credit card
Contact the three banks, Experian, Equifax and TransUnion to stop the freezing of your credit card in order to stop any fraudulent attempts.
There is the option to challenge the inquiry made to the three agencies. If requested they must conduct a thorough examination of any inconsistencies before making the report.
Report suspicions of fraud
Go to this Federal Trade Commission official website to report and document suspicion of identity theft. It’s recommended to report the theft to the police department in your area particularly if you’ve just lost something through robbery or burglary, or another type of crime.