Have a hard inquiry on your credit report from Comenity Bank/VCTRSSEC?
If so, you may be wondering how it got there and what it means for your credit score.
A hard inquiry is simply a way for a lender to check your credit reports before approving your application.
While VCTRSSEC might sound unfamiliar, it represents a popular retailer: Victoria’s Secret.
If you applied for a Victoria’s Secret credit card, the article below will shed some light on how the application will impact your credit.
We’ll also provide the information you need to get the entry deleted if you never applied for the store’s credit card.
Comenity Bank/VCTRSSEC On My Credit Report
Comenity Bank is a premier producer of retail credit cards, partnering with 145 popular brands to offer credit cards to consumers.
One of those partners is Victoria’s Secret.
With the Victoria’s Secret store credit card, you get several benefits, including:
- A sign-up reward
- Birthday gift
- Exclusive deals
- Free shipping on orders over $50
Many people don’t know that applying for a store credit card requires a hard credit check, signing off on the credit inquiry without realizing the effects it can have on their report.
You might also see the name CB/Vicscrt on your report after applying for this card.
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 Does a Comenity Bank/VCTRSSEC Hard Inquiry Affect Your Credit Report?
The level of impact a credit check has on your report and score depends on the type of inquiry it is.
If you’re simply checking your credit score, comparing quotes, or getting pre-qualified for an offer, your credit undergoes a soft inquiry.
It doesn’t lower your score and isn’t likely to show up on your report.
But when you take it a step further and actually apply for a credit card, like the Victoria’s Secret card from Comenity, your credit report is subject to a hard inquiry.
Depending on how many reports the creditor uses, one or more of your scores could be impacted by your application.
A hard credit check lets the lender see your full credit report, which can give them insight into your history as a borrower.
While a hard pull may only take a few minutes, it will remain on your credit report for 2 years.
Fortunately, it should only drop your credit score by a couple of points.
Hard inquiries are expected to show up on your credit report, so having a few inquiries here and there isn’t likely to deter lenders from approving your future credit applications.
However, if your credit report is filled to the brim with hard inquiries, it doesn’t send a good message, implying that you might be desperate for funding.
To keep the negative effects of hard inquiries at bay, assess your approval odds before applying for a new card or loan.
You can save some time and a few points by only applying for offers you’re likely to be eligible for.
How to Get Comenity Bank/VCTRSSEC off Your Credit Report
In most cases, a hard inquiry should be the least of your credit concerns. It’s a necessary part of increasing your available credit and reaching new financial goals.
However, you should never ignore an unsolicited credit inquiry. An unfamiliar hard inquiry could suggest that someone used your information to obtain a credit card.
In that case, you should follow the advice below to get the hard inquiry deleted from your credit report.
Dispute the Inquiry with the Bank and Credit Bureaus
If you’re eager to get to the bottom of a mysterious inquiry from Comenity Bank, you should contact them first.
The bank should be able to provide you with details about the application that resulted in the hard inquiry.
If a reporting error is to blame for the hard inquiry, you could clear up the mistake and get it removed by reaching out to the bank.
Next, you need to dispute the inquiry with the credit bureaus. Check each of your reports to see which ones are displaying the entry and contact the appropriate bureaus.
You can usually file a dispute online, by phone, or by letter if you prefer to have documentation on paper.
The bureaus should launch an investigation, exploring the entry and its origins. If it’s fraudulent, you can expect to see it deleted within 30 days of your dispute.
To catch future errors and additions to your report, sign up for free credit monitoring with Credit Karma.
That way, you’ll be notified whenever a new entry is added to your report or your score changes.
You’ll also get a helpful overview of your credit profile, with pointers for boosting your score. The best part? It’s completely free.
For a more in-depth look at your credit, don’t forget that you can access a free copy at annualcreditreport.com each year.
Use a Credit Repair Company
If the thought of disputing hard inquiries and dealing with potential identity fraud is getting you down, you might want to call in the experts.
A credit repair company can do the heavy lifting for you, contacting banks and credit bureaus to dispute inaccurate entries on your report.
They can dig even deeper into your credit report, pinpointing the biggest factors bringing down your score.
They’re equipped to take on credit challenges like:
Need help picking a company?
We’ve done our homework and compiled a list of the very best credit repair companies for you. Take a look and see which one is the best fit for your budget and circumstances.
Dealing with Comenity Bank/VCTRSSEC
Don’t ignore a questionable entry on your credit report.
The Fair Credit Reporting Act has you covered, allowing you to easily dispute fraudulent entries.
If the hard inquiry from Victoria’s Secret is legit, then there’s no reason to stress about it.
Some of the best ways you can improve your score moving forward are to:
- Keep your credit utilization at 30% or less
- Stay up-to-date on credit card/loan payments
- Monitor your credit score
And if you feel like you could use additional assistance, get in touch with a credit repair company.