What Does DSNB Bloom Mean on Your Credit Report?

The following information can be helpful if you’re not sure how an inquiry from DSNB Bloom showed up on your credit report. The credit reporting code for Bloomingdale’s credit card issued by Department Stores National Bank is ‘DSNB Bloom.’ This hard inquiry is likely to show up on your report after submitting a credit card application for a Bloomingdale card.

You should be able to dispute the erroneous entry and get the inquiry removed from your credit report if you don’t recall signing up for a Bloomingdale card. Read further to know how hard and soft inquiries affect your credit score and how you can get them removed from your report.

What is a Hard Inquiry?

Inquiries and checks by creditors show up on your credit report when you apply for new lines of credit. As per the Consumer Financial Protection Bureau, these are classified as hard inquiries which impact your credit report and scores since they indicate how regularly you apply for new debts. Recent hard inquiries are counted in a creditor’s decision-making, indicating that a recent debt has been added to your account. These debt accounts can be for an auto loan, insurance policy, credit card, mortgage, cell phone, apartment, and even a job application. 

What is a Soft Inquiry?

A review of your credit report, creditors evaluating current accounts, and potential lenders pre-screening your report without your permission are known as soft inquiries on your report. As claimed by the CFPB, these inquiries do not impact your score.

For How Long Do Hard Inquiries Stay On Your Credit Report?

Whether your credit card application for a Bloomingdale’s card is approved or not, the hard inquiry is likely to remain on your report for about two years. Every time an inquiry is made, it is listed by all three major consumer credit reporting bureaus – Experian, Equifax, and TransUnion.

Unwarranted Inquiries

Contact DSNB Bloom if you do not recognize their inquiry on your report and are sure you didn’t make it. The lender’s name is usually listed below the hard inquiry section on the credit report.

DSNB Bloom on Your Credit Report

Department Stores National Bank offers retail cards to buyers at Bloomingdale’s and Macy’s. Applying for one of these cards online or in-store signs you up for a hard inquiry. This permits the issuing bank to access your credit report to determine whether you are a good or bad credit risk and if they should approve your application.  

Becoming an authorized user on somebody else’s account can also lead to you being hit with a hard inquiry.

How Does a Hard Inquiry by DSNB Bloom Affect Your Overall Credit?

A hard inquiry is listed in your credit report after you apply for new lines of credit, a loan, or a credit card. A creditor may want to view one or all three of your credit reports from Equifax, Experian, and TransUnion.

Hard inquiries usually stay on your credit report for up to two years and may pull your score down by a few points. Therefore it is recommended to restrict yourself to only a few inquiries on your report every year, as a report featuring multiple hard inquiries indicates your unstable borrowing nature and can prevent you from acquiring loans from lenders in the future.

It’s necessary to know the difference between hard and soft inquiries. Soft inquiries are recorded when you pre-qualify for loans or new credit cards while comparing rates and submitting to a background check carried out by a creditor. These inquiries also occur when you check your credit score. Bear in mind that these inquiries are not added to your credit report and cannot pull down your score.

Can I Remove DSNB Bloom From My Credit Report?

Professional credit repair agencies such as Lexington Law specialize in eradicating erroneous entries and inquiries from your credit report. With over 18 years of experience, the professional credit repair service has disputed over seven million negative items in 2020. 

It is advised to contact Lexington Law for a free consultation if you want to remove a collections account or dispute the following items from your credit report at the earliest.

• Delayed or missed payments
• Collections accounts
• Foreclosures
• Tax liens
• Judgments
• Bankruptcy
• Repossessions
• Charge offs

Listed below are a few measures you can take to help you with the process of removing DSNB Bloom from your credit report.

Dispute the Inquiry

Reach out to DSNB, the source for the hard inquiry, to find out about the application that caused this. All credit bureaus which have dated information regarding your credit report should be informed and disputed to investigate your claim and make the necessary updates. It typically takes a month for bureaus to look into the declaration.

You may have to write a ‘goodwill letter’ addressing the creditor and elucidate why the negative entry appears on your report. 

It is recommended by the Consumer Financial Protection Bureau (CFPB) that you provide a copy of your report with the error highlighted. It is also necessary to provide important documentation while filing a dispute to support your claim.

Monitoring your credit using fee-based services or acquiring a copy of your complete credit report annually from annualcreditreport.com will help you deal with potential fraud and identity theft cases.

Hire a Professional Credit Restoration Company

Contemplate hiring a professional credit repair agency if you prefer to go with a more hands-off approach. 

Seeking professional help or hiring a credit repair company is usually recommended to remove negative items such as tax liens, foreclosures, debt collection accounts, and bankruptcies from your credit report. The advanced strategies, in this case, are better left to credit repair professionals as they are more familiar with the know-how of credit bureaus and can guide you through the process better.

Bottom Line: Get Your Hard Inquiries Removed Today!

There’s no need to stress over a DSNB Bloom inquiry on your credit report, as there are several ways to make up for the points lost after applying for a Bloomingdale credit card. You can get these entries removed by contacting DSNB and the consumer credit bureaus involved. You may also want to reach out to a professional credit repair service for additional assistance.