What is TBOM/TFC?
TBOM/TFC stands for The Bank of Missouri/Tidewater Finance Company, which are two separate financial institutions. This combination of entities might appear on your credit report as a hard inquiry if you’ve applied for credit or financing through either company. The appearance of TBOM/TFC indicates that a lender pulled your credit report to evaluate your creditworthiness before extending credit.
Why TBOM/TFC Appears on Your Credit Report
If you see TBOM/TFC on your credit report, it’s likely due to a recent credit application with The Bank of Missouri or Tidewater Finance Company. This could be associated with various credit products, such as credit cards, auto loans, or other financing options offered by these institutions. When you apply for these products, a hard inquiry is conducted and recorded on your credit report.
The Impact of TBOM/TFC Hard Inquiries on Your Credit
A hard inquiry from TBOM/TFC can cause a slight dip in your credit score. Typically, a single hard inquiry might lower your score by a few points, which generally isn’t significant. However, if you accumulate multiple hard inquiries over a short period, the impact can be more substantial, potentially signaling to lenders that you are actively seeking credit and might be a higher risk.
How Long TBOM/TFC Inquiries Stay on Your Credit Report
The hard inquiry from TBOM/TFC will remain on your credit report for up to two years. During this time, the inquiry is documented by the major credit reporting agencies—Equifax, Experian, and TransUnion. While the inquiry’s impact on your credit score diminishes over time, it remains visible to lenders who may review your credit report during the application process.
Addressing Unauthorized TBOM/TFC Inquiries on Your Credit Report
If you notice a TBOM/TFC inquiry on your credit report that you do not recognize, it’s crucial to investigate it. Start by contacting either The Bank of Missouri or Tidewater Finance Company to verify the details of the inquiry. If it turns out to be unauthorized, you should dispute it with the credit bureaus to have it removed from your report.
Removing TBOM/TFC Inquiries from Your Credit Report
If you determine that the TBOM/TFC inquiry was made in error or without your consent, you may want to consider working with a credit repair company like Credit Saint. These firms specialize in disputing and potentially removing unauthorized inquiries and other negative marks from your credit report, such as late payments, collections, charge-offs, and more.
Take Action to Remove Inquiries and Improve Your Credit
If you’re struggling with bad credit and want to learn more about your options, consider a free credit consultation with Credit Saint. They have helped many people in your situation improve their credit scores.
To get started, visit their website and fill out the form to see what they can do for you. By taking action now, you can work towards a brighter financial future with a healthier credit score.
Ready to Repair Your Credit?
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.
