Are you worried about a new entry on your credit report from CFNA?
An entry from CFNA is nothing to be concerned about if you applied for a credit card from Credit First National Association.
When you apply for a credit card, a hard inquiry is added to your report, and it may lower your credit score by a few points.
CFNA On My Credit Report
CFNA Bank is short for Credit First National Association, a credit card bank and credit arm of Bridgestone Americas.
The bank offers credit cards for Firestone Complete Auto Care, Wheel Works, and Tires Plus.
It also provides credit services for more than 8,000 tire and auto companies across the country. CFNA has over 4.6 million cardholders.
When you apply for a CFNA card, the bank runs a hard inquiry, which allows them to access your credit report.
Here’s how that works.
How Does a CFNA Hard Inquiry Impact Your Credit Report?
Your credit report can undergo two kinds of checks: hard and soft inquiries.
A soft inquiry provides lenders with an overview of your credit, letting them pre-approve you for offers.
Soft pulls also happen when you check your score or consent to a background check. This type of inquiry has no effect on your credit, so it won’t result in a lower score or negative entry on your report.
On the other hand, hard pulls are used to approve your credit card, loan, and credit line applications.
They let creditors access your reports to decide whether or not you’re a risky borrower.
Lenders can obtain one, two, or all three of your reports when you apply for a card.
A hard inquiry can drop your score by a couple of points, staying there for two years.
Once two years have passed, the inquiry will fall off your report naturally.
Hard inquiries barely affect your score on their own, but several inquiries can do a bit more damage.
When you constantly apply for new cards, it can signal that you’re a risk to lenders.
To avoid this negative effect, try only applying for funding that you’re likely to be approved for based on your credit score.
If you are overwhelmed by dealing with negative entries on your credit report,
we suggest you ask a professional credit repair company for help.
How to Get CFNA Removed from Your Credit Report
Hard inquiries are generally nothing to worry about, but you should be concerned if you didn’t apply for a credit card or loan and find one on your report.
If you’ve never heard of CFNA until discovering it on your credit report, you could be the victim of identity theft.
Otherwise, a reporting error could be to blame.
Either way, here are a few tips for removing a hard inquiry from your credit report.
Dispute the Inquiry with CFNA and the Bureaus
The Fair Credit Reporting Act was created to protect consumers from fraudulent or otherwise inaccurate credit reporting.
It allows you to dispute inquiries with unknown origins.
If you suspect that someone has used your personal information to apply for a card with CFNA, or you fear there has been a reporting error, you need to file a dispute with the credit bureaus.
You can go online to dispute an inquiry, call a representative, or mail in a letter of dispute.
We also suggest contacting the creditor, in this case, Credit First National Association, to explain the situation and get more information.
After a dispute has been filed, the bureaus should take a closer look at your case, dismissing the entry if it is found to be inaccurate.
Monitor Your Credit
A surefire strategy for catching errors on your credit report and disputing them promptly is to monitor your credit.
There are several impressive credit monitoring apps, with both free and paid versions to choose from.
Many of these platforms come with several benefits, such as:
- Free credit score updates
- Alerts for changes to your report
- Pre-selected credit and loan offers
- Credit profile analysis
- Resources for improving your score
Credit monitoring is key to stopping fraudulent entries from impacting your score and can alert you to potential identity theft.
Get Help from a Credit Repair Company
If the thought of calling and writing letters to creditors and credit bureaus gives you anxiety, don’t sweat it.
You don’t have to fight inaccuracies on your report on your own.
If you need assistance with hard inquiries or any other credit issues, you should look into paying for a credit repair service.
Credit repair companies are teeming with experts who can get to the bottom of your credit woes, disputing inaccuracies and improving your score over time.
In addition to inquiries, they can be a great asset if you’re struggling with the effects of:
- Charge offs
- Collection-stage debts
- Poor payment history
If you’re dealing with the problems above, take a look at our list of the best credit repair companies and pick the one that best fits your situation and budget.
Getting CFNA off Your Credit Report
You shouldn’t have trouble getting CFNA removed from your credit report if you never completed an application for one of their credit cards.
If you did apply for a card and are concerned about its impact on your score, you can rest assured knowing that a hard inquiry is a standard part of applying for a credit card.
As such, it’ll barely alter your score. In fact, a few months from now, it should have virtually no effect on your score.
The best thing you can do moving forward is to use your credit to your advantage. Stay up to date on payments and don’t exceed 30% of your available credit to see the best results.
And as always, if you’re facing any credit issues, don’t hesitate to contact a credit repair company for help.