What is TBOM/Fortiva?
TBOM/Fortiva is a credit report code representing The Bank of Missouri/Fortiva. It may also be listed as ‘Fortiva/TBOM’. This code may appear on your credit report as a hard inquiry if you’ve applied for a Fortiva retail credit account, a Fortiva credit card, or a Fortiva personal loan issued by The Bank of Missouri.
The Difference Between Hard and Soft Inquiries
It’s important to understand the distinction between hard and soft inquiries, as they have different implications for your credit score.
What is a hard inquiry?
A hard inquiry occurs when you apply for new credit, and the lender or creditor runs a credit check. Examples of situations that may result in a hard inquiry include applying for a mortgage, apartment, car loan, credit card, insurance policy, cell phone, or sometimes even a job application.
Although hard inquiries generally only lower your credit score by a few points, having too many in a short period can cause significant damage to your credit score.
What is a soft inquiry?
A soft inquiry typically happens when a company checks your credit history as part of a background check, or when a credit card issuer or lender checks your credit to prequalify you for an offer. An existing creditor may also perform a soft inquiry 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’re approved for a Fortiva Credit Card or Fortiva Retail Credit account, the hard inquiry will remain on your credit report for up to 2 years. Each inquiry is recorded by one or all three major credit reporting agencies: Equifax, Experian, and TransUnion.
Dealing with Unauthorized Inquiries
If you find a TBOM/Fortiva inquiry on your credit report that you don’t recognize or believe you didn’t initiate, contact The Bank of Missouri to inquire about the reason for the inquiry. The creditor’s name should be listed under the hard inquiry section on your credit report.
Removing TBOM/Fortiva from Your Credit Report
Credit Saint specializes in removing inquiries and other in accurate negative marks from your credit report. In addition to removing inquiries, they can help you dispute (and possibly remove) the following items:
- late payments
- collections
- charge offs
- foreclosures
- repossessions
- bankruptcies
Take Action to Remove Inquiries and Improve Your Credit
If your credit score is suffering and you’re looking for guidance, a complimentary credit consultation with Credit Saint may be the solution. They have a proven track record of helping individuals facing similar credit challenges. To explore how they can support you in enhancing your credit, visit their website and complete the inquiry form.
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