What is Sears/CBNA?
Sears/CBNA is a code that may appear on your credit report if you’ve applied for a Sears Mastercard, which is issued by Citibank North America. This code indicates that Citibank conducted a credit inquiry as part of your credit card application process. The Sears Mastercard offers various benefits, including financing options and rewards for purchases at Sears.
Seeing this code on your report? Here’s what it means and how it could affect your credit.
Why Sears/CBNA Shows Up After a Credit Application
When you apply for the Sears Mastercard, Citibank reviews your credit report to determine your eligibility. This process generates a hard inquiry, recorded on your credit report under the code Sears/CBNA. Hard inquiries like this are standard whenever you apply for new credit, and they indicate that a lender has reviewed your credit history as part of their decision-making process.
Even if your application isn’t approved, the inquiry will still be documented on your report, showing that you’ve recently applied for credit.
How Sears/CBNA Hard Inquiries Impact Your Credit Score
A hard inquiry from Sears/CBNA can cause a slight drop in your credit score, usually by just a few points. While a single inquiry might not significantly affect your score, multiple hard inquiries within a short period can add up, leading to a more noticeable decrease. Lenders may interpret frequent inquiries as a sign that you’re actively seeking credit, which could raise concerns about your financial stability.
To protect your credit score, it’s wise to limit the number of credit applications you submit and apply only when necessary, especially if you’re planning larger financial moves.
How long does Sears/CBNA stay on your credit report?
The hard inquiry from Sears/CBNA will remain on your credit report for up to two years, regardless of whether your application was approved. Over time, the impact of this inquiry on your credit score will diminish, but the inquiry will stay on your report until it drops off automatically after 24 months.
Keeping track of these inquiries is important for maintaining a healthy credit profile.
What to Do About Unauthorized Sears/CBNA Inquiries
If you spot a Sears/CBNA inquiry on your credit report that you didn’t authorize, it’s crucial to act quickly. Unauthorized inquiries could be the result of an error or potential identity theft. Here’s how to address the issue:
- Reach Out to Citibank: Contact Citibank to inquire about the details of the inquiry. They can confirm whether the inquiry was legitimate or if it was made in error.
- File a dispute with the credit bureaus: If the inquiry was not authorized, you should file a dispute with the credit bureaus—Equifax, Experian, and TransUnion. This process can help remove the unauthorized inquiry from your report.
- Consider additional protections: If you suspect identity theft, you may want to place a fraud alert or credit freeze on your report to prevent further unauthorized activity.
Can Sears/CBNA be removed from my credit report?
If the Sears/CBNA inquiry was unauthorized or recorded incorrectly, disputing it with the credit bureaus can lead to its removal. Maintaining an accurate credit report is essential for protecting your credit score.
Credit repair companies like Credit Saint specialize in removing inquiries and other inaccurate negative marks from your credit report. They can help you dispute and potentially remove various negative items, such as:
- late payments
- collections
- charge offs
- foreclosures
- repossessions
- bankruptcies
Take Charge of Your Credit Today
If you’re struggling with poor credit and want to learn more, consider a free credit consultation with Credit Saint. They’ve helped many people in similar situations and can provide guidance on the best course of action.
Visit their website and fill out the form to see how they can assist you in your credit repair journey.
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