Have you noticed a hard inquiry from JPMCB on your credit report?
If you recently applied for a credit card from Chase, it’s likely responsible for the entry on your credit report.
While one credit card application isn’t going to substantially harm your credit, several applications within a small time frame can do considerable damage.
What Is JPMCB Card?
You might not recognize the abbreviation JPMCB on your credit report, but you’re probably familiar with the name it stands for.
JPMorgan Chase Bank, or Chase, headquartered in New York, is one of the most popular national banks.
They offer checking accounts, debit cards, and savings accounts as well as being credit card issuers.
As a Chase account cardholder might see Chase, including Chase Sapphire, on your credit report under the following names: JPMCB, JPMorgan Chase Bank, JPMCB Card, or JPMCB Card Services.
How Long Do Hard Inquiries Stay on Your Report?
When you apply for a financial service such as a credit card, a loan, or a mortgage, the lender or creditor pulls your credit report, which is defined as a hard credit inquiry.
Usually, with a soft inquiry, they use your phone number and maybe address, not information like your social security number.
Hard inquiries tell lenders how often you apply for credit, which can be an indicator of your financial situation.
That’s why multiple hard inquiries can hurt your score.
Hard inquiries stay on your report for two years. However, they don’t usually affect your credit score for more than 12 months.
If you are a victim of Identity Theft and need help repairing your credit,
we recommend you seek professional help from a credit repair company.
Can You Remove Hard Inquiries from Your Credit Report?
If you have an inquiry on your report from JPMCB but didn’t apply for a Chase credit card, you should act quickly to get the hard inquiry removed.
While soft inquiries don’t require your authorization, hard pulls do.
The credit bureaus (Experian, Transunion, and Equifax) are required to notify you when a company runs a hard inquiry, hence it showing up on your report.
If an inquiry that you didn’t authorize appears on your report, you may be the victim of identity theft.
When that’s the case, you should be able to get the inquiry taken off your report.
How to Remove JPMCB Card from Your Credit Report
There are a few important steps to take if you think someone may have used your information to apply for a JPMCB card or the company made a mistake.
Get a Copy of Your Credit Report
Credit monitoring services can alert you to changes to your score, but you should also take advantage of annualcreditreport.com.
Every year, you get free access to your full credit report from Equifax, Experian, and TransUnion.
The credit inquiry section of your report could reveal the details of the credit check.
Research any unfamiliar names you see, and you may realize that they’re alternate names for lenders you’ve applied with.
If you did apply for a card or loan with the company, it will most likely stay on your report for the full two-year period.
Report Fraud to JPMCB
If you didn’t apply for a credit card and authorize Chase to run a credit check, you need to report the incident to the company.
You could be:
- Victim to identity theft
- Subject of a reporting error
If your information has been used by an identity thief, you need to take the crucial steps of contacting the credit bureaus and the police.
Regardless, you need to write a letter to the creditor disputing the inquiry and insisting that they remove the negative item from your credit report.
You can mail in a basic dispute letter to get it removed.
Talk to a Credit Repair Company
Credit repair companies can be an excellent source of assistance when there are issues with your credit.
If you’ve fallen victim to identity fraud, these companies can help you to take the appropriate steps to make things right.
On the other hand, if your credit is hurting due to your own financial decisions, they can help out as well.
In addition to getting hard pulls removed from your score, they can help with some of the credit problems below:
Start by checking out some of the best credit repair companies. If an unauthorized credit check is on your report, they’ll help to get it removed quickly.
How to Deal with a Hard Inquiry from JPMCB Card
A hard inquiry from JPMCB might drop your score a few points, but it’s not the end of the world.
While an unauthorized inquiry should raise some red flags, if the inquiry is the result of your own credit card application, there’s really no need to worry.
The damage done by a hard inquiry is short-term, with virtually no impact on your score after a year.
Here are a few steps you can take in the future to avoid the negative impact of hard inquiries:
- Limit Applications: To lessen the blow of hard inquiries in the future, try to limit your credit card and loan applications. If you’re shopping for a certain type of loan, you should submit all your applications around the same time. With credit cards like American Express Platinum or Amazon Prime Rewards Visa Signature Card, try to wait for 3 to 6 months between applications.
- Monitor your Credit: Start monitoring your credit if you aren’t already so you’ll be alerted to hard inquiries and any other changes to your score. There are a handful of reputable free credit monitoring services that can assist you here.
- Look at the big picture: In most cases, hard inquiries are the least of people’s credit concerns. Look at what’s really hurting your score, like late payments, and start working to improve your credit score and get long-term entries removed from your report. A lot of credit cards charge annual fees that can fall under the radar if you don’t have your card set up on auto-draft, so pay attention to the additional information and disclaimers listed on the card you applied for, making sure to pay attention to any fees charged.
Your credit history is integral to your financial future.
Protecting that score requires vigilance and in some cases, rolling up your sleeves and boxing with other companies.
In the United States, you are entitled by law to have access to one free credit score report a year, or you can pay for credit monitoring services offered through companies like Credit Karma or Experian.