What is Genesis/FEB-Retail on your credit report?
Genesis Financial Solutions is known for offering private label credit cards and financing options to consumers with lower credit scores. They partner with various retailers to provide in-store credit cards. Genesis/FEB-Retail is a division that focuses on retail financing.
When you see Genesis/FEB-Retail on your credit report, it typically means you’ve applied for one of their credit cards, such as the Indigo Platinum Mastercard, Destiny Mastercard, or Milestone Gold Mastercard. As part of the application process, a hard inquiry is conducted, which appears on your credit report.
Why Genesis/FEB-Retail Appears on Your Credit Report
When you apply for a credit card with Genesis Financial Solutions, the lender conducts a hard inquiry to assess your credit. This inquiry is recorded on your credit report under Genesis/FEB-Retail and may cause a small drop in your credit score.
How Genesis/FEB-Retail Hard Inquiries Affect Your Credit Score
A single hard inquiry from Genesis/FEB-Retail may slightly lower your credit score. However, accumulating multiple hard inquiries within a short period can lead to a larger impact, making it more challenging to secure loans or favorable interest rates. Lenders might view multiple inquiries as a sign that you are seeking a lot of credit, which could raise concerns about financial stability.
How Long Genesis/FEB-Retail Inquiries Stay on Your Credit Report
Hard inquiries from Genesis/FEB-Retail can remain on your credit report for up to two years. These inquiries are reported by the three major credit bureaus—Equifax, Experian, and TransUnion. The impact of these inquiries on your credit score lessens over time, especially after the first year.
Addressing Unauthorized Genesis/FEB-Retail Inquiries
If you notice a Genesis/FEB-Retail inquiry on your credit report that you don’t recognize or didn’t authorize, you should act quickly. Contact Genesis Financial Solutions to clarify the reason for the inquiry and determine if it was authorized. If it wasn’t, you can dispute the inquiry with the credit bureaus.
Genesis Financial Solutions Contact Information
Address:
Genesis Financial Solutions
PO Box 4499
Beaverton, OR 97076-4499
Phone number: (866) 502-6439
Removing Genesis/FEB-Retail and Other Hard Inquiries from Your Credit Report
If you believe the Genesis/FEB-Retail inquiry on your credit report is inaccurate or unauthorized, you can dispute it with the credit bureaus. For additional help, credit repair companies like Credit Saint specialize in removing hard inquiries and other negative marks such as late payments, collections, charge-offs, foreclosures, repossessions, and bankruptcies.
Take Steps to Improve Your Credit Today
If hard inquiries or other negative items are holding back your credit score, consider reaching out to Credit Saint for a free consultation. Their expertise in credit repair can help you take control of your credit and move toward financial success. Visit their website and fill out the consultation form to get started on improving your credit.
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