What is Elan Financial Services?
Elan Financial Services, a subsidiary of U.S. Bank Corp, is a credit card issuer that collaborates with over 1,300 financial institutions. Elan Financial Services may appear on your credit report as a hard inquiry, typically resulting from applying for a credit card through a bank or credit union.
Which credit cards are offered by Elan Financial Services?
Elan Financial Services provides credit card programs for over 1,300 banks and credit unions such as:
- Associated Bank
- Bank of Oklahoma
- Banner Federal Credit Union
- BMW
- Bremer Bank
- Busey Bank
- Chevron Federal Credit Union
- Country Club Bank
- Desert Financial Credit Union
- Ent Credit Union
- Envision Bank
- Farmers and Merchants Bank
- Fidelity Investments
- First Financial Northwest Bank
- First Merchants Bank
- Flagstar Bank
- Highland Bank
- Mini
- MIT Federal Credit Union
- NRL Federal Credit Union
- Renasant Bank
- Star Financial Group
- United Community Bank
- Workers Credit Union
Understanding Hard and Soft Inquiries
It’s important to recognize the difference between hard and soft inquiries, as they have varying impacts on your credit report.
Hard Inquiries
Hard inquiries occur when a lender or creditor runs a credit check as part of your application for new credit. These inquiries can result from mortgage, apartment, car loan, credit card, insurance policy, cell phone, or job applications. Although hard inquiries typically only lower your credit score by a few points, having too many in a short period can significantly damage your credit score.
Soft Inquiries
Soft inquiries, on the other hand, typically arise when a company checks your credit history as part of a background check or when a credit card issuer or lender prequalifies you for an offer. Existing creditors might also conduct soft inquiries to monitor your current credit situation. Unlike hard inquiries, soft inquiries do not impact your credit scores.
How long do hard inquiries stay on your credit report?
Regardless of whether you are approved for a credit card from Elan Financial Services, 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 bureaus: Equifax, Experian, and TransUnion.
Addressing Unauthorized Inquiries
If you find an unfamiliar inquiry on your credit report or are certain you didn’t initiate it, contact Elan Financial Services right away. The creditor’s name should be listed under the hard inquiry section on your credit report. Promptly addressing unauthorized inquiries is essential for protecting your credit score and personal information.
Elan Financial Services Contact Information
Mailing address:
Elan Financial Services
P.O. Box 790408
St. Louis, MO 63179-0408
Phone number: (800) 558-3424
Can Elan Financial Services inquiries be removed from my credit report?
Credit Saint specializes in removing inquiries and other negative marks from credit reports. They can help you dispute and potentially remove the following items from your credit report:
- late payments
- collections
- charge offs
- foreclosures
- repossessions
- bankruptcies
Taking Action to Improve Your Credit
Proactively managing your credit and ensuring the accuracy of your credit report are essential steps toward financial stability. If you’re struggling with bad credit and want to learn more about your options, consider a free credit consultation with Credit Saint.
Visit their website and fill out the form to find out how they can help you improve your credit and secure a better financial future.
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