What is CB INDIGO?
CB INDIGO stands for Celtic Bank/Indigo, representing a financial partnership between Celtic Bank, a Utah-based chartered industrial bank, and Indigo, a credit card service under the umbrella of Genesis Financial Solutions, Inc.
This collaboration focuses on providing credit card solutions to individuals with poor credit, aiming to help them rebuild and improve their credit scores over time.
Why is CB INDIGO on your credit report?
CB INDIGO may appear on your credit report as a hard inquiry if you’ve recently applied for the Indigo Platinum Mastercard issued by Celtic Bank. This credit card is specifically designed for individuals with less-than-perfect credit, aiming to help them rebuild and improve their credit scores.
Understanding Hard and Soft Inquiries
What is a hard inquiry?
A hard inquiry occurs when you apply for new credit, and the lender or creditor conducts a credit check to evaluate your creditworthiness. Hard inquiries can be associated with various types of credit, including mortgages, car loans, credit cards, insurance policies, and even certain job applications.
While hard inquiries typically only decrease your credit score by a few points, having too many within a short period can accumulate and negatively impact your credit score.
What is a soft inquiry?
A soft inquiry, on the other hand, generally takes place when a company reviews your credit history as part of a background check or prequalification process. Soft inquiries might also be initiated by an existing creditor monitoring your current credit situation.
Unlike hard inquiries, soft inquiries do not affect your credit scores.
How long do hard inquiries stay on your credit report?
Regardless of whether you’re approved for the Indigo Platinum Mastercard, the hard inquiry will remain on your credit report for up to two years. Each inquiry is recorded by one or all three major credit reporting agencies: Equifax, Experian, and TransUnion.
Addressing Unauthorized Inquiries
If you don’t recognize the CB INDIGO inquiry on your credit report or are certain you didn’t initiate it, contact Celtic Bank to inquire about the reason for the inquiry. The creditor’s name should be listed under the hard inquiry section on your credit report; in this case, it’s Genesis FS Card Services, Inc.
Genesis FS Card Services Inc. Contact Information
Address:
Genesis FS Card Services Inc.
15220 NW Greenbrier Pkwy, Suite 200
Beaverton, OR 97006
Phone number: (800) 509-6191
Can CB INDIGO be removed from my credit report?
If you believe the CB INDIGO inquiry on your credit report is unauthorized or erroneous, consider seeking assistance from a reputable credit repair company like Lexington Law. With over 18 years of experience, they successfully removed over 6 million negative items from clients’ credit reports in 2021 alone.
In addition to helping remove inquiries, they can assist with disputing and potentially removing other negative items on your credit report, such as:
- late payments
- collections
- charge offs
- foreclosures
- repossessions
- bankruptcies
Take the First Step to Remove Inquiries Today
If you’re facing credit challenges and want to learn more, consider a free credit consultation with Lexington Law. They have extensive experience helping individuals in similar situations. Visit their website and complete the online form to explore the services they can offer to help you improve your credit.
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