What is TBOM/CONTFIN on your credit report?
TBOM/CONTFIN is a credit report code representing The Bank of Missouri/Continental Finance. If you’ve applied for a Continental Finance credit card issued by The Bank of Missouri, you might see TBOM/CONTFIN appear on your credit report as a hard inquiry.
Why TBOM/CONTFIN Appears on Your Credit Report
When you apply for a Continental Finance credit card, The Bank of Missouri typically performs a hard inquiry to assess your creditworthiness. This inquiry is recorded on your credit report under the name TBOM/CONTFIN, indicating that your credit history was reviewed as part of the application process.
The Effect of TBOM/CONTFIN Hard Inquiries on Your Credit Score
A hard inquiry from TBOM/CONTFIN can cause a temporary dip in your credit score. While a single hard inquiry may only lower your score by a few points, having multiple inquiries within a short period can have a more substantial impact. This is because lenders may view multiple inquiries as a sign of financial stress or overextension.
How Long TBOM/CONTFIN Inquiries Stay on Your Credit Report
TBOM/CONTFIN hard inquiries can remain on your credit report for up to two years. These inquiries are tracked by major credit reporting agencies, including Equifax, Experian, and TransUnion. Although the impact on your credit score diminishes over time, it’s still important to be mindful of the number of hard inquiries on your report, especially within the first year when their effect is most significant.
Handling Unauthorized TBOM/CONTFIN Inquiries
If you notice a TBOM/CONTFIN inquiry on your credit report that you don’t recognize or didn’t authorize, it’s important to address it quickly. Start by contacting The Bank of Missouri to verify the inquiry. If the inquiry is indeed unauthorized, you can dispute it with the credit bureaus to have it removed. Addressing unauthorized inquiries is crucial to protecting your credit score from unnecessary damage.
Can TBOM/CONTFIN Inquiries Be Removed from Your Credit Report?
If you believe that the TBOM/CONTFIN inquiry on your credit report is incorrect or unauthorized, you can dispute it directly with the credit bureaus. For those who prefer assistance, credit repair companies like Credit Saint can help. They specialize in disputing and potentially removing inaccurate inquiries and other negative items from credit reports, including late payments, collections, charge-offs, foreclosures, repossessions, and bankruptcies.
Start Improving Your Credit Today
If hard inquiries or other negative marks are affecting your credit score, consider a free consultation with Credit Saint. Their team has extensive experience in helping individuals improve their credit and achieve better financial health. Visit their website to get started by filling out the consultation request form, and take the first step toward a stronger credit profile.
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