What is DSNB Bloom?
DSNB Bloom is a credit report code that you might come across while reviewing your credit report. It represents Department Stores National Bank/Bloomingdale’s and usually appears as a hard inquiry on your credit report when you apply for a Bloomingdale’s credit card. But what does this mean, and how does it impact your credit score?
The Difference Between Hard and Soft Inquiries
When you apply for credit, lenders and creditors need to review your credit history to assess your creditworthiness. There are two types of credit inquiries: hard and soft inquiries.
Hard Inquiries
A hard inquiry takes place when a potential lender or creditor requests a full credit check to make a lending decision. This typically occurs when applying for mortgages, car loans, credit cards, insurance policies, apartments, cell phone plans, or even certain job applications. Hard inquiries can slightly lower your credit score, and having too many in a short period of time can significantly impact your credit rating.
Soft Inquiries
On the other hand, a soft inquiry occurs when a company conducts a background check or a lender or credit card issuer prequalifies you for an offer. Soft inquiries might also be initiated by existing creditors to monitor your 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 your Bloomingdale’s credit card application is approved or denied, the hard inquiry will stay on your credit report for up to two years. The inquiry is recorded by one or more of the three major credit reporting agencies: Equifax, Experian, and TransUnion.
Dealing with Unauthorized Inquiries
If you notice an unfamiliar inquiry or are certain that you didn’t initiate it, you should contact DSNB Bloom to inquire about the reason for the hard inquiry. The creditor’s name should appear under the hard inquiry section on your credit report.
Can DSNB Bloom Inquiries Be Removed from Your Credit Report?
If you believe that a DSNB Bloom hard inquiry on your credit report is incorrect, you can seek professional help from companies like Credit Saint.
They can also assist you in disputing and potentially removing the following negative items:
- late payments
- collections
- charge offs
- foreclosures
- repossessions
- bankruptcies
Take Action to Improve Your Credit
If you’re struggling with a low credit score and want to learn more about your options, consider a free credit consultation with Credit Saint. They have helped many people in similar situations and can provide guidance on improving your credit.
Visit their website and complete the form to see what they can do for you.
Ready to Raise Your Credit Score?
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