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Inquiries

What is THD/CBNA On My Credit Report?



Did a hard inquiry from THD/CBNA bring down your credit score?

If so, you probably applied for a credit card from The Home Depot (THD) which is issued by Citibank North America (CBNA).

Whenever you apply for a retail credit card, the resulting hard inquiry can lower your credit score by a few points.

You may also see the inquiry listed on your credit report.

In most cases, this is nothing to worry about.

But, if you’ve never applied for a Home Depot card, this entry shouldn’t be on your report and you may be a victim of fraud.

Read on to learn more about how a hard inquiry from THD/CBNA could impact your credit and get a few pointers for getting fraudulent entries off your report.

What Is THD/CBNA On My Credit Report?

THD/CBNA stands for The Home Depot/Citibank North America.

Citi is a popular bank that provides credit cards for a wide range of retail stores like The Home Depot, Best Buy, Shell, ExxonMobile and L.L. Bean, among others.

Citi offers four credit options for The Home Depot shoppers such as The Home Depot Consumer Credit Card, The Home Depot Commercial Revolving Charge Card, The Home Depot Project Loan, and The Home Depot Commercial Account.

When you apply for any one of these cards, loans, or credit accounts, you authorize Citibank to run a hard credit check.

You could also get a hard inquiry if you consent to be an authorized user for a friend or family member with one of these accounts.

If you are overwhelmed by dealing with negative entries on your credit report,
we suggest you ask a professional credit repair company for help.

Ask Lex Law for Help

How Does a Hard Inquiry Affect Your Credit Report?

Normally, a hard credit isn’t a big deal. In fact, by itself, it shouldn’t impact your credit report.

Hard inquiries let businesses like Citibank and The Home Depot get an in-depth look at your history of using credit.

With a hard inquiry, a lender might access one, two, or all of your three credit reports. That means any of your scores could be lowered as a result of the inquiry.

The good news? Hard inquiries lower your score by only a couple of points, and they fall off of your credit report in two years.

That being said, having several hard inquiries within a couple months can suggest you rely heavily on loans and credit cards. This could make you a less appealing applicant to future lenders.

But having a few inquiries on your report is completely normal and shouldn’t worry you too much, especially if they’re spread across a couple years.

If you’re concerned about having too many hard credit checks, do a little research before your next application.

A lot of lenders are upfront about their basic score requirements and approval odds, helping you to sidestep any unnecessary inquiries.

Or look for a lender that performs soft inquiries, which do no damage to your score. If you tried to get pre-qualified for a card from The Home Depot, your report may have undergone a soft pull.

If you took it a step further and applied for a card or loan from the retailer, the THD/CBNA entry on your report is a hard inquiry.

How to Remove THD/CBNA from Your Credit Report

If you applied for a card or loan from The Home Depot or agreed to be an authorized user, then the hard inquiry on your report is legit.

But if you don’t recall doing either of those things, finding an inquiry from this retailer should cause you concern.

Unwarranted inquiries could be the result of a reporting error, or they could suggest that someone is using your identity fraudulently.

Either way, you’re covered. Here are a couple of tips that can help you get a mysterious hard inquiry off your report.

Dispute the Unauthorized Hard Inquiry with CitiBank and the Bureaus

The Fair Credit Reporting Act was created to ensure credit reports are fair and accurate.

This law allows you to dispute hard inquiries you didn’t consent to.

First, you should start by getting all the details you can from Citibank regarding the suspected fraud, asking for proof.

From there, you need to file a dispute with the credit bureaus — Equifax, Experian, and TransUnion.

When you file a dispute, the bureaus should launch an investigation into the entry. If it does prove to be an error, the entry will be deleted from your account.

If you suspect someone used your information to open an account with The Home Depot, you can go to identitytheft.gov to report it with the Federal Trade Commission.

You may also freeze your credit reports, alerting the bureaus to the identity theft and stopping any potential hard inquiries.

Start Monitoring Your Credit Report

Every year, you can get a free copy of your credit report from each credit bureau by visiting annualcreditreport.com.

We recommend going a step further and signing up for credit monitoring.

There are a handful of excellent credit monitoring apps, with both free and more advanced paid versions.

Apps like Credit Karma and Credit Sesame come with several nifty features, like:

  1. Regular score updates
  2. Notifications of new items on your report
  3. Resources for filing disputes
  4. Suggestions for improving your score
  5. A breakdown of your report
  6. Pre-approval offers and card recommendations

Regularly checking your credit can be crucial to catching suspected identity theft in time to stop it from doing serious damage to your credit.

It can also help you to clear up reporting errors quickly and efficiently, along with providing all the bonus features listed above.

These apps are free and easy to use, but you can also use paid apps that provide even more protection.

Work with a Credit Repair Company

If you don’t have the time or energy to deal with credit bureaus and lenders about an inquiry you never authorized, let a credit repair company help.

Credit repair specialists can help dispute inaccuracies on your report and get them removed.

They can also help you with a range of credit issues that have more of an impact on your score, such as:

Whatever issues are plaguing your credit report, there are several top-notch credit repair companies that can get you back on track.

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Dealing with THD/CBNA on Your Credit Report

As you can see, getting an inaccurate entry deleted from your credit report should be easy enough.

While you may not be able to get an inquiry off your report after applying for a new credit card, you also don’t have to worry about it doing extreme damage to your credit.

Unlike a collections account, which can stay on your report for seven years, a hard inquiry will be off in two, barely lowering your score during that time.

Instead of getting down about hard inquiries, try to use credit in a way that bolsters your score, like paying your accounts on time, keeping your credit utilization low, and having a variety of credit accounts.

If your score could use some serious work, consider hiring a credit repair company to help.

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