What is TD Bank Target?
TD Bank Target, TD Bank USA Target, and TARGET/TD are credit report codes that signify a Target credit card issued by TD Bank. Target offers a store credit card called the RedCard, which provides various perks, such as discounts and free shipping, to its cardholders.
Applying for a Target RedCard and Its Impact on Your Credit
When you apply for a Target RedCard, TD Bank, the issuing bank, will usually place a hard inquiry on your credit report. This is a standard procedure for most credit applications. Hard inquiries can affect your credit score, and having too many in a short period can potentially lower your score more significantly.
The Difference Between Hard and Soft Inquiries
It’s essential to understand the difference between hard and soft inquiries to better manage your credit score.
Hard Inquiries
A hard inquiry occurs when you apply for new credit and the lender conducts a credit check. These inquiries can lower your credit score by a few points. Having too many hard inquiries in a short period can signal to lenders that you may be a higher-risk borrower.
Soft Inquiries
A soft inquiry, on the other hand, is a more routine check of your credit history. These inquiries occur as part of background checks or prequalification offers from lenders. Soft inquiries have no impact on your credit score.
How long do hard inquiries stay on your credit report?
Hard inquiries can remain on your credit report for up to two years. Regardless of whether your Target credit card application is approved or denied, the inquiry will be recorded by one or more of the three major credit bureaus: Equifax, Experian, and TransUnion.
Dealing with Unauthorized Inquiries
If you notice an unfamiliar hard inquiry on your credit report, or you’re sure you didn’t apply for the credit product in question, contact TD Bank to inquire about the reason for the inquiry. The creditor’s name should be listed under the hard inquiry section of your credit report.
Can TD Bank Target inquiries be removed from my credit report?
Companies like Credit Saint specialize in removing inquiries and other negative marks on credit reports.
They can also help you dispute and possibly remove other negative items on your credit report, such as:
- late payments
- collections
- charge offs
- foreclosures
- repossessions
- bankruptcies
Improving Your Credit with Expert Help
If you’re struggling with bad credit and want to learn more about how to improve your credit score, consider a free credit consultation with Credit Saint. They have helped many individuals in similar situations.
Visit their website and fill out the consultation form to discover what they can do for you in addressing inquiries and other negative items on your credit report.
Ready to Raise Your Credit Score?
Learn how credit repair professionals can assist you in disputing inaccuracies on your credit report.
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