What is an EMS Credit Inquiry on my Credit Report?
Every time you check or apply for a loan, credit card, mortgage, tradelines, or so on, you’re prompting a kind of inquiry which may or may not appear on your credit report depending upon the nature of the inquiry.
Actions such as checking your credit score, comparing quotes, or pre-qualifying a loan or card offer etc., can attract a soft credit check on your report. But soft inquiries are not visible to lenders and does not influence your credit report or score whatsoever.
On the other hand, a hard inquiry appears on your credit file when you’ve applied for a mortgage, loan, credit card, or a line of credit and waiting for approval. It allows creditors to obtain any of your credit reports to determine your payment habits and financial behavior.
A few hard inquiries on your credit report will not have a drastic impact on your credit score as it only lowers it by a few points. In contrast, too many hard inquiries on your report might give creditors a negative impression about your financial stability and scare them away. A hard inquiry can stay in your credit report for up to 2 years at the most.
A typical example of a hard inquiry is EMS or Equifax Mortgage Services. It may appear on your credit report after you’ve applied for a mortgage from a lender, be it an individual or a firm.
EMS is a credit reporting code used by mortgage lenders to obtain your credit report from Equifax. If you’ve applied for a mortgage within the last two years, the chances are that it may show up on your credit report.
But there’s nothing to worry about as it’s going to fall off your report in due time. In case you haven’t applied for any mortgage services and EMS still shows up on your credit report, here’s what you can do to get it off your credit report.
- Contact Equifax and other Credit Bureaus to report the issue. Although an EMS credit inquiry usually shows up on your credit report when you’ve applied for a mortgage, it can also appear due to an inaccurate entry, a reporting error, or in worst-case scenario due to fraudulent activity or identity theft. To counteract on suspected fraud, you must file a dispute with Equifax and other credit bureaus to get to the bottom of it as soon as possible.
After filing a complaint, an investigation will be carried out by Credit Bureaus which may take up to 30 days, and once it’s clear that you didn’t apply for a mortgage, the EMS inquiry should be removed from your report in no time.
- You can also freeze your credit reports and put a fraud alert on your reports to prevent further damage to your identity or credit worth.
- Last but not the least, you should subscribe for credit monitoring, which allows you to understand various credit factors in laymen terms. It will give you tips on how to improve
your credit score, give you offers that you’re most likely to get approval for, and provides you with regular updates and additions to your credit report.
However, suppose you’re struggling to boost your credit score due to multiple EMS inquiries on your report, or any other legit credit problem. In that case, you can always contact a Credit Repair Organization to solve the issues with Credit Bureaus on your behalf.
Another major cause of a hard inquiry is applying for a credit card. Despite it being a casual move these days, most people are unaware of the consequences of applying for a new credit card, whether online or not and may end up making multiple applications in a year.
Whether you remember all the companies you’ve sent your credit card applications to or not, once you’ve applied for a credit card, it shows up on your report as a hard inquiry and stays for up to 2 years.
A perfect example of such hard inquires would be DSNB Bloom and GECRB. We’ll talk about it in a short while but before that a quick tip,
(Whenever you’re trying to check your luck for a loan, credit card or mortgage, make sure to send your applications across different creditors within 14 days to avoid a large impact on your credit report.)
Now, moving on.
What is DSNB Bloom on My Credit Report?
An inquiry from DSNB Bloom on your credit report most likely appears if you’ve applied for a Bloomingdale’s credit card. DSNB Bloom is the credit reporting code used by Bloomingdale’s credit card offered through Department Stores National Bank. If you’re unsure about applying for a Bloomingdale’s card, you should be able to get it off your report by filing a dispute with the Credit Bureaus.
If you remember applying for it within the last 2 years, you needn’t worry as it will be removed upon completion of 2 years. However, if you’re in urgent need of credit, you can always contact a Credit Repair Organization for a rather quick solution.
What is GECRB on My Credit Report?
Another example of a hard inquiry that pops up on your credit report is GECRB (General Electric Capital Retail Bank). Formerly known as Synchrony Bank, a GECRB appears on your credit report if you’ve applied for a Synchrony card at some point in the past.
As told above, if you are positive about not applying for a Synchrony card ever, you should file a dispute with the credit bureaus and everything should be fine. But if you have, you must wait for it to be removed from your report which may take up to 2 years from the time of credit card application. For instant resolution, you may contact a Credit Repair Organization.
To conclude, you should first recall and find out whether it’s legit or not for any hard inquiries on your credit report. Once you’ve figured out the cause, you can follow the steps mentioned above to tackle any issues in your credit file and improve your creditworthiness.