What is MABT CONTFIN?
MABT/CONTFIN is a credit report code associated with Mid America Bank & Trust and Continental Finance, both of which offer various financial services, including credit cards and financing options. If you see this code on your credit report, it typically indicates that you’ve applied for a credit product or financing through one of these institutions.
Why MABT CONTFIN Appears on Your Credit Report
When MABT/CONTFIN shows up on your credit report, it’s usually because you applied for a credit card or loan. This results in a hard inquiry as part of the lender’s process to assess your creditworthiness.
Continental Finance is known for offering credit cards to individuals with less-than-perfect credit, so if you’ve applied for one of their cards, this could be the reason behind the appearance of MABT/CONTFIN on your report.
The Effect of Hard Inquiries on Your Credit Score
Hard inquiries, such as those from MABT/CONTFIN, can cause a minor dip in your credit score. Typically, a single hard inquiry might reduce your score by just a few points. However, accumulating multiple hard inquiries in a short period can have a more significant impact, as lenders may perceive this as a sign that you’re seeking too much credit too quickly.
How Long MABT CONTFIN Inquiries Stay on Your Credit Report
A hard inquiry from MABT/CONTFIN will remain on your credit report for up to two years. During this period, it will be recorded by the major credit bureaus—Equifax, Experian, and TransUnion—and will be visible to other potential lenders. While the impact on your credit score diminishes over time, the inquiry itself remains until it is automatically removed after 24 months.
Handling Unauthorized MABT CONTFIN Inquiries
If you notice a MABT/CONTFIN inquiry on your credit report that you don’t recognize, it’s important to take action. Begin by contacting Mid America Bank & Trust or Continental Finance to verify the legitimacy of the inquiry. If the inquiry was unauthorized, you have the right to dispute it with the credit bureaus to have it removed from your report.
Can MABT CONTFIN be removed from my credit report?
If you believe that a MABT CONTFIN inquiry on your credit report is inaccurate or unauthorized, you are entitled to dispute it. Credit repair companies like Credit Saint specialize in helping clients remove inquiries and other inaccurate negative marks from their credit reports.
In addition to assisting with the removal of hard inquiries, they can help you dispute and potentially remove the following items from your credit report:
- late payments
- collections
- charge offs
- foreclosures
- repossessions
- bankruptcies
Take Control of Your Credit
If you’re struggling with bad credit or are concerned about the impact of hard inquiries on your credit report, consider a free credit consultation with Credit Saint. They have helped many people in similar situations improve their credit scores and regain control of their financial lives.
Visit their website and fill out the consultation request form to see how they can help you take the first step toward better credit.
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