Better Credit Blog

DECEMBER 31, 2020

A hard inquiry is simply a way for a lender to check your credit reports before approving your application. While VCTRSSEC might sound unfamiliar, it represents a popular retailer: Victoria’s Secret. Comenity Bank is a premier producer of retail credit cards, partnering with 145 popular brands to offer credit cards to consumers.

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Better Credit Blog

FEBRUARY 12, 2021

EPR may show up on your report if you’ve fallen behind on payments to a service provider or a lender. The longer you ignore a collections entry, the more damage it can do to your report. Evergreen Professional Recoveries is a legitimate debt collection agency and member of the American Collectors Association. Commercial.

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Collection Industry News

MAY 30, 2022

The CFPA includes a long list of exemptions to the CFPB’s authority, such as: merchants; retailers; accountants and tax preparers; attorneys engaged in the practice of law; persons regulated by the Securities and Exchange Commission; persons regulated by the Commodity Futures Trading Commission; and auto dealers.

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Better Credit Blog

FEBRUARY 25, 2021

First Federal is most likely on your report as a collections entry because of an unpaid bill. Because collections accounts can lower your credit score, it’s important to act quickly to get them off your report. Fortunately, FFCC is a legitimate third-party debt collection agency. Healthcare. Financial institution.

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Better Credit Blog

DECEMBER 9, 2020

When you apply for a retail credit card from Best Buy, it can lead to a hard credit check and lower your score. Hard inquiries happen whenever you apply for funding from a bank, retailer, or lender. This guarantees that your interactions with the bureau and lenders are well-documented. Debt in collections.

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Better Credit Blog

DECEMBER 18, 2020

The entry is most likely on your report as a hard inquiry, which happens when you apply for a retail credit card. Comenity Bank is one of the nation’s leading producers of branded retail credit cards, with over 145 cards on offer. It allows lenders to gain access to your full credit reports from one or more of the credit bureaus.

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Better Credit Blog

NOVEMBER 19, 2020

They also have partnerships with major retailers nationwide like TJ Maxx, with whom they issue rewards credit cards. It occurs when you complete the application process for a loan or a credit card, allowing the lender to see your actual credit report. Collections accounts. Foreclosures. Charge offs. Late payments.

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Better Credit Blog

DECEMBER 2, 2020

Banana Republic offers these cards through a partnership with Synchrony Bank, which issues credit cards for dozens of national retailers. Lenders access your entire credit report from Experian, Equifax, TransUnion, or all three bureaus. Collection-stage debt. Foreclosure. How Do Hard Inquiries Work? Hard Inquiries.

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Better Credit Blog

DECEMBER 2, 2020

Banana Republic offers these cards through a partnership with Synchrony Bank, which issues credit cards for dozens of national retailers. Lenders access your entire credit report from Experian, Equifax, TransUnion, or all three bureaus. Collection-stage debt. Foreclosure. How Do Hard Inquiries Work? Hard Inquiries.

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Better Credit Blog

JANUARY 15, 2021

Clarity Services is a third-party credit reporting company used by lenders to obtain data like your credit reports when you apply for funding. They specialize in subprime candidates, helping lenders with tough calls on applicants with poor credit or little to no credit history. Collections records. Retail financing.

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Better Credit Blog

OCTOBER 28, 2020

Its credit card offerings are among its most popular products, as the bank partners with dozens of retailers, including Toys R Us. If R Us Credit Card SYNCB or R Us Credit Card appears on your report, it’s likely the result of a retail credit card application. Collections entry. Foreclosure. Charge off. Repossessions.

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Better Credit Blog

JANUARY 5, 2021

Citi is a massive provider of retail credit cards and accounts. Credit checks allow prospective lenders, banks, employers, and landlords to see your credit reports. Depending on how many reports a lender chooses to factor into its approval process, any or all of your credit reports could be affected. Collections-level debt.

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Better Credit Blog

JANUARY 5, 2021

Citi is a massive provider of retail credit cards and accounts, they partner with The Home Depot and dozens of other popular companies. Credit checks allow prospective lenders, banks, employers, and landlords to see your credit reports. Collections-level debt. Foreclosure. Ask Lex Law for Help. How Do Hard Inquiries Work?

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Better Credit Blog

JANUARY 6, 2021

The popular retailer provides two credit card options: The Brooks Card and the Brooks Brothers Platinum Mastercard. Hard inquiries let lenders obtain your credit report(s). This could also deter prospective lenders from approving your applications. Collections. Foreclosure. BRKSB/CBNA On My Credit Report.

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Better Credit Blog

DECEMBER 28, 2020

Shop Your Way is a Mastercard issued by Citibank that offers rewards points that can be redeemed on thousands of products from popular retailers. They let lenders access your complete credit report, which they use to assess your creditworthiness. Collections. Foreclosure. Charge offs. Poor payment history. Repossessions.

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Better Credit Blog

NOVEMBER 30, 2020

DSNB issues two types of cards in partnership with these retailers: American Express cards. This type of inquiry is more exhaustive and gives your prospective lender access to your entire credit report. Collections entries. Foreclosure. AMEX/DSNB represents American Express/Department Stores National Bank. Charge offs.

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Better Credit Blog

NOVEMBER 23, 2020

Whether a lender, landlord, or employer requested a screening of your credit report through ACRAnet, read on to learn more about how a hard inquiry from the company may impact your score. The company also provides retail, commercial, and automotive screening, but on a smaller scale. Collections-stage debt. Foreclosure.

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Better Credit Blog

DECEMBER 2, 2020

Badcock is a large furniture retailer with more than 320 stores across 8 different states. Like many retailers, it offers financing for its products. This gives lenders a clearer idea of how responsibly you use credit and aids them in the decision-making process. Debt collection. Foreclosures. Charge offs.

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Better Credit Blog

OCTOBER 28, 2020

That’s because applying for a credit card, loan, or in this case a Mastercard, often results in banks and lenders checking your credit report. eBay Mastercards are issued by Synchrony Bank, a massive national bank offering several retail cards. Collections. Foreclosures. eBay Mastercard/SYNCB. Charge offs.

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Debt RR

DECEMBER 13, 2019

There are 35 major bankruptcies in 2019 so far, and over two-thirds happened in retail. When faced with mounting debt, it’s inevitable that someone will come to collect. When courts get involved, debt collection gets serious. Distressed homeowners who successfully fought foreclosure lawsuits stemming from the 2010 U.S.

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Better Credit Blog

JANUARY 29, 2021

If you didn’t apply for a retail card from Macy’s, the inquiry could be a mistake, or it may be the work of an identity thief. Any time you apply for new credit, like a card, loan, or line of credit, the lender might run a hard credit check. Debt collections. Foreclosure. Ask Lex Law for Help. HARD INQUIRIES. Charge offs.

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Better Credit Blog

DECEMBER 23, 2020

Among its extensive lineup of banking products, the institution offers credit cards in partnership with dozens of big-name brands and retailers. Whenever you apply for a line of credit, credit card, or loan, the lender will likely obtain your credit report as a means of vetting you. Collections-stage debts. Foreclosure.

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Troutman Sanders

MAY 9, 2023

The proposed rule would require lenders to assess a borrower’s ability to repay a PACE loan and would provide a framework for how these loans will be treated under the Truth in Lending Act. Strengthen Retail (Consumer) Investor Protections. For more information, click here. On May 4, Colorado Governor Jared Polis signed SB93 into law.

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Troutman Sanders

JANUARY 30, 2023

On January 26, the Securities and Exchange Commission (SEC) rejected Cboe BZX Exchange’s (BZX) request to list and trade Ark 21Shares, the proposed spot-Bitcoin exchange traded fund (ETF) managed by asset managers ARK Investment Management and 21Shares (collectively hereinafter, the “trust). For more information, click here.

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Better Credit Blog

JANUARY 22, 2021

Department Stores National Bank issues retail credit cards for shoppers at Macy’s and Bloomingdale’s. If you applied for one of these retail credit cards, whether in-store or online, you signed off on a hard inquiry. A lender may request access to one, two, or each of your three credit reports. Debt collections.

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Better Credit Blog

DECEMBER 9, 2020

Belk/Synchrony Bank may show up on your report if you apply for a Belk retail credit card. Belk is one of the dozens of retailers that Synchrony Bank has a partnership with. They allow lenders to access your credit reports from any or all of the credit bureaus. Collections-stage debt. Foreclosures. Banana Republic.

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Better Credit Blog

NOVEMBER 17, 2020

The bank also partners with 25 companies to offer rewards credit cards across different industries, including entertainment, travel, and retail. This allows the lender to take a closer look at how you’ve used credit in the past and aids them in the approval process. Collections. Foreclosures. Barnes & Noble.

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Troutman Sanders

DECEMBER 4, 2023

On December 1, the House of Representatives approved a resolution to repeal a Consumer Financial Protection Bureau (CFPB) rule that mandated banks to gather data on loan applications from women-owned, minority-owned, and small businesses to help lenders identify business development needs and opportunities. For more information, click here.

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