What is TBOM/CONTFIN?
TBOM/CONTFIN is a credit report code that stands for The Bank of Missouri/Continental Finance.
It’s possible that TBOM/CONTFIN is appearing on your credit report as a hard inquiry. Usually, this happens when you apply for a Continental Finance credit card issued by The Bank of Missouri.
The Impact of Hard Inquiries on Your Credit Score
When you apply for credit, such as a loan or a credit card, the lender will typically perform a hard inquiry to review your creditworthiness. Hard inquiries are recorded on your credit report and may cause a temporary dip in your credit score. While a single inquiry may only lower your score by a few points, multiple inquiries within a short time frame can have a more significant impact.
How long do hard inquiries stay on your credit report?
Hard inquiries can remain on your credit report for up to two years. These inquiries are recorded by one or more of the three major credit reporting agencies: Equifax, Experian, and TransUnion. However, the impact of a hard inquiry on your credit score generally diminishes over time, with the most significant impact occurring in the first year.
Can TBOM/CONTFIN be removed from my credit report?
If you believe that the TBOM/CONTFIN inquiry or other hard inquiries on your credit report are incorrect or should be removed, you can seek professional assistance from a credit repair company like Credit Saint.
They can help you dispute and possibly remove various negative marks, including:
- late payments
- collections
- charge offs
- foreclosures
- repossessions
- bankruptcies
Get Started with a Free Credit Consultation
If your credit score has been negatively impacted by hard inquiries or other issues, consider reaching out to Credit Saint for a free credit consultation. Their team of experts has extensive experience in helping individuals improve their credit scores and financial situations.
To take the first step towards better credit, visit their website and fill out the consultation request form. Their team will review your case and provide guidance on the best course of action to help you achieve your credit goals.
Ready to Raise Your Credit Score?
Learn how credit repair professionals can assist you in disputing inaccuracies on your credit report.
Crediful is your go-to destination for all things related to personal finance. We're dedicated to helping you achieve financial freedom and make informed financial decisions. Our team of financial experts and enthusiasts brings you articles and resources on topics like budgeting, credit, saving, investing, and more.
