What is Amex/DSNB on your credit report?
Amex/DSNB refers to American Express/Department Stores National Bank, and it typically appears on your credit report as a hard inquiry. This code is linked to applications for credit cards like Macy’s or Bloomingdale’s, both issued by Department Stores National Bank.
Why Amex/DSNB Appears on Your Credit Report
Amex/DSNB refers to American Express/Department Stores National Bank, a partnership established to issue credit cards for Macy’s and Bloomingdale’s stores. In 2010, American Express teamed up with Macy’s, Inc., using DSNB—a subsidiary of Citibank—as the credit card issuer for these retailers.
Depending on your situation, AMEX/DSNB may appear on your credit report in several ways:
Tradeline
If you currently have or previously had a Macy’s or Bloomingdale’s American Express card, AMEX/DSNB will appear as a tradeline. This indicates an active or closed account tied to these cards.
Even if your card account is closed, it can remain on your credit report for up to 10 years. Accounts in good standing can have a positive impact on your credit history, while accounts with late payments or negative marks may lower your score.
Hard Inquiry
A hard inquiry from AMEX/DSNB occurs when you apply for a Macy’s or Bloomingdale’s credit card account. This inquiry is recorded on your credit report and may lower your score slightly for a short time.
Soft Inquiry
If either store prequalified you for a card or reviewed your account for a credit line increase, AMEX/DSNB may show up as a soft inquiry. Unlike hard inquiries, soft inquiries do not affect your credit score.
Authorized User
You may see AMEX/DSNB on your credit report if you were added as an authorized user on a credit card account issued by Department Stores National Bank. This can affect your credit score positively or negatively:
- Positive Effect: If the primary account holder maintains a low credit utilization ratio and makes on-time payments, this account could improve your credit score.
- Negative Effect: If the account has high balances or missed payments, it could hurt your score, even though you’re not legally responsible for the debt.
Identity Theft or Fraudulent Activity
If you’ve never applied for a Macy’s or Bloomingdale’s card, an unauthorized AMEX/DSNB entry may indicate identity theft. Someone might have used your personal information to open an account without your permission.
Steps to Address Identity Theft:
- Contact the store’s customer service for clarification.
- File a dispute with the credit bureau reporting the entry.
- Submit a report through IdentityTheft.gov to create an official identity theft record.
- Monitor your credit for additional unauthorized entries.
Types of Macy’s and Bloomingdale’s Credit Cards
It’s important to understand the difference between the two types of cards issued by AMEX/DSNB:
- Store Cards: These cards are limited to purchases at Macy’s or Bloomingdale’s locations.
- American Express Co-Branded Cards: These cards are more versatile, allowing purchases anywhere American Express is accepted.
If you notice AMEX/DSNB on your credit report but don’t recall applying for or owning one of these cards, further investigation may be needed.
How Amex/DSNB Impacts Your Credit Score
AMEX/DSNB can impact your credit score in several ways, depending on how you handle your Macy’s or Bloomingdale’s American Express card. How you use the card and manage your accounts over time can greatly influence your overall credit profile.
Payment History
This is the most important factor in calculating your FICO® score, accounting for 35% of your total score. Late or missed payments on your card can significantly damage your credit score and remain on your report for up to seven years. On the other hand, consistently making on-time payments demonstrates financial responsibility and helps improve your score.
Credit Utilization Ratio
Your credit utilization ratio (CUR) measures the percentage of your available credit that you’re using. For example, if your Macy’s American Express card has a $1,000 limit, and you carry a $700 balance, your CUR is 70%. A high CUR can lower your credit score by signaling financial strain to lenders. Keeping your CUR below 30%, and ideally closer to 10%, is recommended for a healthy credit profile.
Length of Credit History
The age of your credit accounts impacts your score by showing how long you’ve managed credit. Keeping your Macy’s or Bloomingdale’s card open for a longer period can improve the average age of your accounts, which is a positive factor in your credit score. Closing the card too early could shorten your credit history, potentially lowering your score.
Credit Mix
Credit mix accounts for 10% of your FICO® score and evaluates the variety of credit types you use, such as credit cards, loans, and mortgages. Adding a Macy’s or Bloomingdale’s credit card to your portfolio can enhance your credit mix, particularly if your profile is heavily weighted toward installment loans.
New Credit Applications
When you apply for a Macy’s or Bloomingdale’s card, AMEX/DSNB performs a hard inquiry on your credit report. Hard inquiries may lower your credit score slightly and stay on your report for up to two years. While the impact is typically small, multiple inquiries in a short period can make lenders view you as a higher risk borrower.
How Long Amex/DSNB Stays on Your Credit Report
Hard inquiries from Amex/DSNB remain on your credit report for up to two years, even if your credit card application is not approved. The three major credit bureaus—Equifax, Experian, and TransUnion—record these inquiries. Although the inquiry stays on your report for two years, its impact on your credit score diminishes over time, especially after the first 12 months.
Dealing with Unauthorized Amex/DSNB Inquiries
If you notice an Amex/DSNB inquiry on your credit report that you don’t recognize, it’s crucial to contact Department Stores National Bank. The creditor’s contact information should be listed on your credit report, and you can request clarification on why the inquiry was made. If the inquiry is unauthorized, you can dispute it with the credit bureaus to have it removed.
Removing Amex/DSNB Inquiries from Your Credit Report
If you believe that the Amex/DSNB inquiry is incorrect or unauthorized, you can dispute it with the credit bureaus directly. For additional assistance, credit repair companies like Credit Saint specialize in removing negative items such as late payments, collections, charge-offs, foreclosures, repossessions, and bankruptcies.
Take Control of Your Credit Today
Struggling with negative items on your credit report? Credit Saint specializes in helping people like you tackle inaccurate or harmful entries. Their team provides personalized support to help you rebuild your financial reputation.
A free consultation is the first step toward creating a stronger financial future. Visit their website and fill out the form to get started today.
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