You may have noticed the entry “THD/CBNA” on your credit report and wondered what it is. THD/CBNA stands for The Home Depot/Citibank North America and may appear on your credit report if you’ve applied for a Home Depot credit card issued by Citibank.
This article will explain what this code means and what it could indicate about your credit history.
How THD/CBNA show up on your credit report
The presence of THD/CBNA on your credit report doesn’t necessarily mean that you have a bad credit history. It may simply mean that you’ve applied for a Home Depot credit card issued by Citibank.
The Home Depot is a retailer that specializes in home improvement and construction products. It’s one of the largest retailers in the United States and has more than 2,000 stores nationwide.
The company partners with Citibank North America to offer its own branded credit cards to its customers.
These credit cards include:
- The Home Depot Consumer Credit Card
- The Home Depot Commercial Revolving Credit Card
- The Home Depot Commercial Account
If you’ve applied for any of these cards and granted Citibank permission to access your credit history, the application will likely show up on your credit report as an inquiry from THD/CBNA. This doesn’t mean that you’re automatically approved or denied for the card – it’s just a record of your inquiry. This code may also appear on your credit report to show that you’re an authorized user on someone else’s account.
What is a hard credit inquiry?
A hard credit inquiry is a type of inquiry that’s initiated by a lender when you apply for a loan or credit card. It’s also known as a “hard pull” of your credit report.
When you apply for a loan or credit card, the lender will request permission to access your credit report. This is called a “credit check.” During this process, the lender will review your credit history and decide if you’re eligible for the product.
Your credit history is one of the factors that lenders use to decide whether to approve you for a loan or credit card. Bad credit history can indicate that you’re a high-risk borrower and may lead to a denial of your application.
What is a soft inquiry?
A soft inquiry is a type of inquiry that’s initiated by you or another person, such as a potential employer. It’s also known as a “soft pull” of your credit report.
There are several types of soft inquiries, including:
- A credit check that’s initiated by you when you apply for a loan or credit card
- A credit check that’s initiated by someone else when they request your credit report for a pre-approval offer
- A credit check that your insurance company initiates to determine your insurance rates
Soft inquiries may likely show up on your credit report but don’t hurt your credit score.
An authorized user
Another reason why you may see THD/CBNA on your credit report is if you’re an authorized user on someone else’s account.
An authorized user is a person who’s been authorized by the cardholder to use their credit card. The authorized user isn’t responsible for repaying the debt, but their credit history is still reported on their credit report.
How long does the THD/CBNA inquiry stay on my credit report?
The THD/CBNA inquiry will typically stay on your credit report for two years from the inquiry date.
If you’re concerned about the impact that THD/CBNA may have on your credit score, don’t worry – a single entry won’t likely decrease your score by more than five points. With a good credit history in your credit report, the impact of this inquiry will be even lower.
Can you remove a THD/CBNA hard inquiry from your credit reports?
The answer is no – you can’t remove a THD/CBNA hard inquiry from your credit reports. However, don’t worry – the inquiry won’t significantly impact your credit score and will eventually expire from your report after two years.
If you’re concerned about the impact that THD/CBNA may have on your credit score, try to keep your overall credit utilization low and make on-time payments to improve your credit history.
The real issue is when THD/CBNA appears on your report without your knowledge and if you are not an authorized user of any Home Depot credit card issued by Citibank. This can make you a victim of identity theft or an erroneous entry on your credit report. So, it is important to take immediate action and solve the issue before it ruins your credit history.
If this happens to you, don’t panic! There are a few things you can do to help solve the problem.
1. Contact Citibank and ask for more information about the inquiry:
When you contact Citibank, ask for more information about the inquiry, such as the name of the person who made the request and the date of the inquiry. This information can help you identify the individual or entity that authorized the inquiry. Compare these details with the information you obtained from the bank. If you find an error in the report, let Citibank know right away. It is their responsibility to contact all three credit bureaus and request the removal of the entry from your credit report.
2. Report suspected fraud or identity theft to the Federal Trade Commission:
If you believe that you’re a victim of fraud or identity theft, report it to the Federal Trade Commission. This is the government agency that regulates consumer protection and identity theft issues. You can file a report on their website or by phone.
3. Freeze your credit account:
Reach out to the three credit bureaus and request that they freeze your credit account. Freezing your accounts restricts access to your credit reports and prevents any new unauthorized accounts from being opened.
4. Request a free fraud alert.
Most credit bureaus offer a free fraud alert service that notifies you when someone tries to open a new account in your name. This service helps prevent identity theft and can help you track any suspicious activity on your credit report.
5. Dispute the inquiry with the credit bureaus:
Finally, you can dispute the inquiry with the credit bureaus. This can be done online, by mail, or by phone. When you dispute the inquiry, provide as much information as possible, including documentation that supports your case.
A THD/CBNA inquiry on your credit is not something to worry about. It will have a minimal impact on your credit score and will eventually expire from your report. However, the best way to protect yourself from any negative consequences is to take action and solve the issue as soon as possible. If you’re a victim of fraud or identity theft, contact the appropriate authorities to help solve the problem.
What if I’m being sued for a Home Depot credit card debt?
If you’re being sued by Home Depot Consumer Credit Card or Citibank for a debt you allegedly owe, don’t panic. It is often easier to ignore the lawsuit and hopes it goes away, but this is usually not the best course of action.
In fact, that is one reason most people lose these types of cases. The first step you should take if you’re being sued is to file an Answer with the court. This document lets the court know that you are aware of the lawsuit and also provides your defense (if you have one).
If you don’t file an Answer, the court will likely enter a default judgment against you. A default judgment is a ruling in favor of the plaintiff (in this case, Home Depot Consumer Credit Card or Citibank) because the defendant (you) did not respond to the lawsuit. This can cause major financial problems like wage garnishment.