What is BK OF AMER?
BK OF AMER is an abbreviation that appears on credit reports, representing Bank of America, one of the largest banks in the United States. The term simplifies the information displayed on credit reports and helps to streamline communication between credit bureaus, lenders, and consumers.
Why is BK OF AMER on my credit report?
You might see BK OF AMER on your credit report due to a hard inquiry that occurs when you apply for any of Bank of America’s financial offerings. Here are some specific situations in which BK OF AMER might show up on your credit report:
Applying for a Bank of America Credit Card
Bank of America provides a variety of credit cards tailored to different consumer needs, such as cashback, travel rewards, or low-interest cards. When you submit an application for a Bank of America credit card, the bank will perform a credit check, which results in a hard inquiry appearing on your credit report as BK OF AMER.
Requesting a Loan or Line of Credit
When you apply for a personal loan, mortgage, or line of credit from Bank of America, the bank will conduct a credit check. This process will also result in a hard inquiry on your credit report, identified by the BK OF AMER abbreviation.
Opening a Bank Account
Although not as common, sometimes applying for a checking or savings account with Bank of America might lead to a hard inquiry, depending on the specific account requirements. In such cases, the hard inquiry will also be listed on your credit report as BK OF AMER.
How long does BK OF AMER stay on your credit report?
Hard inquiries like BK OF AMER remain on your credit report for up to two years. Even though their impact on your credit score diminishes over time, these inquiries will stay on your report until they are automatically removed after 24 months. Monitoring your credit regularly can help you stay informed about these inquiries.
Addressing Unauthorized BK OF AMER Inquiries
If you see a BK OF AMER inquiry on your credit report that you don’t recognize, it’s important to respond quickly. Begin by contacting Bank of America to check if the inquiry was legitimate or made in error.
If the inquiry wasn’t authorized, submit a dispute to the credit bureaus—Equifax, Experian, and TransUnion—to have it removed and safeguard your credit score. If you suspect identity theft, you might also consider adding a fraud alert or credit freeze to your report to stop any further unauthorized actions.
Bank of America Contact Information
Address:
Bank of America Corporation
100 North Tryon Street
Charlotte, NC 28255
Phone number: (800) 432-1000
Can BK OF AMER be removed from my credit report?
If the BK OF AMER inquiry was unauthorized or incorrectly reported, disputing it with the credit bureaus can lead to its removal. Keeping your credit report accurate is key to maintaining a healthy credit score.
Credit Saint is a credit repair firm that specializes in removing inquiries and other derogatory marks from credit reports. They can also assist in disputing (and possibly erasing) the following negative items from your credit report:
- late payments
- collections
- charge offs
- foreclosures
- repossessions
- bankruptcies
Steps to Improve Your Credit
If you’re struggling with poor credit, consider scheduling a free credit consultation with Credit Saint. Their extensive experience and expertise in assisting individuals in similar situations can provide valuable guidance and support.
Visit their website and complete the form to find out how they can help you.
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