Better Credit Blog

DECEMBER 9, 2020

When you apply for a retail credit card from Best Buy, it can lead to a hard credit check and lower your score. Hard inquiries happen whenever you apply for funding from a bank, retailer, or lender. This guarantees that your interactions with the bureau and lenders are well-documented. Foreclosure. Charge offs.

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Better Credit Blog

DECEMBER 18, 2020

The entry is most likely on your report as a hard inquiry, which happens when you apply for a retail credit card. Comenity Bank is one of the nation’s leading producers of branded retail credit cards, with over 145 cards on offer. It allows lenders to gain access to your full credit reports from one or more of the credit bureaus.

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Better Credit Blog

JANUARY 22, 2021

Department Stores National Bank issues retail credit cards for shoppers at Macy’s and Bloomingdale’s. If you applied for one of these retail credit cards, whether in-store or online, you signed off on a hard inquiry. A lender may request access to one, two, or each of your three credit reports. Foreclosure. Charge-offs.

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Better Credit Blog

DECEMBER 9, 2020

Belk/Synchrony Bank may show up on your report if you apply for a Belk retail credit card. Belk is one of the dozens of retailers that Synchrony Bank has a partnership with. They allow lenders to access your credit reports from any or all of the credit bureaus. Foreclosures. Belk/Synchrony Bank On My Credit Report.

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Collection Industry News

MAY 30, 2022

The CFPA includes a long list of exemptions to the CFPB’s authority, such as: merchants; retailers; accountants and tax preparers; attorneys engaged in the practice of law; persons regulated by the Securities and Exchange Commission; persons regulated by the Commodity Futures Trading Commission; and auto dealers.

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Better Credit Blog

NOVEMBER 19, 2020

They also have partnerships with major retailers nationwide like TJ Maxx, with whom they issue rewards credit cards. It occurs when you complete the application process for a loan or a credit card, allowing the lender to see your actual credit report. Foreclosures. Some of the issues they can help out with include: Bankruptcy.

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Better Credit Blog

DECEMBER 2, 2020

Banana Republic offers these cards through a partnership with Synchrony Bank, which issues credit cards for dozens of national retailers. Lenders access your entire credit report from Experian, Equifax, TransUnion, or all three bureaus. Foreclosure. How Do Hard Inquiries Work? Hard Inquiries. A hard inquiry is more invasive.

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Better Credit Blog

DECEMBER 2, 2020

Banana Republic offers these cards through a partnership with Synchrony Bank, which issues credit cards for dozens of national retailers. Lenders access your entire credit report from Experian, Equifax, TransUnion, or all three bureaus. Foreclosure. How Do Hard Inquiries Work? Hard Inquiries. A hard inquiry is more invasive.

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Better Credit Blog

JANUARY 15, 2021

Clarity Services is a third-party credit reporting company used by lenders to obtain data like your credit reports when you apply for funding. They specialize in subprime candidates, helping lenders with tough calls on applicants with poor credit or little to no credit history. Retail financing. Foreclosure. Charge offs.

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Better Credit Blog

OCTOBER 28, 2020

Its credit card offerings are among its most popular products, as the bank partners with dozens of retailers, including Toys R Us. If R Us Credit Card SYNCB or R Us Credit Card appears on your report, it’s likely the result of a retail credit card application. Foreclosure. How Long Does a Hard Inquiry Stay on Your Credit Report?

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Better Credit Blog

JANUARY 5, 2021

Citi is a massive provider of retail credit cards and accounts. Credit checks allow prospective lenders, banks, employers, and landlords to see your credit reports. Depending on how many reports a lender chooses to factor into its approval process, any or all of your credit reports could be affected. Foreclosure.

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Better Credit Blog

JANUARY 5, 2021

Citi is a massive provider of retail credit cards and accounts, they partner with The Home Depot and dozens of other popular companies. Credit checks allow prospective lenders, banks, employers, and landlords to see your credit reports. Foreclosure. Your report could feature a hard inquiry from Home Depot CBNA. Charge offs.

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Better Credit Blog

FEBRUARY 12, 2021

EPR may show up on your report if you’ve fallen behind on payments to a service provider or a lender. While you may not be familiar with the agency, they collect for popular lenders and providers across several markets. Any time you miss a payment, your lender will contact you to collect. Foreclosures. Commercial.

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Better Credit Blog

JANUARY 6, 2021

The popular retailer provides two credit card options: The Brooks Card and the Brooks Brothers Platinum Mastercard. Hard inquiries let lenders obtain your credit report(s). This could also deter prospective lenders from approving your applications. Foreclosure. BRKSB/CBNA On My Credit Report. Charge-offs. Collections.

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Better Credit Blog

DECEMBER 28, 2020

Shop Your Way is a Mastercard issued by Citibank that offers rewards points that can be redeemed on thousands of products from popular retailers. They let lenders access your complete credit report, which they use to assess your creditworthiness. Foreclosure. SYWMC CBNA is short for the Shop Your Way credit card from Citibank.

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Better Credit Blog

NOVEMBER 30, 2020

DSNB issues two types of cards in partnership with these retailers: American Express cards. This type of inquiry is more exhaustive and gives your prospective lender access to your entire credit report. Foreclosure. AMEX/DSNB represents American Express/Department Stores National Bank. In-store only cards. Charge offs.

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Better Credit Blog

DECEMBER 2, 2020

Badcock is a large furniture retailer with more than 320 stores across 8 different states. Like many retailers, it offers financing for its products. This gives lenders a clearer idea of how responsibly you use credit and aids them in the decision-making process. Foreclosures. How Does Badcock Credit Work? Charge offs.

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Better Credit Blog

NOVEMBER 25, 2020

It is most popular for its credit cards, partnering with dozens of big-name service providers and retailers to offer rewarding credit cards. Abt Electronics is a popular appliance and electronics retailer that offers 6, 12, and 24-month financing with its Synchrony credit cards. Foreclosure. Charge offs. Debt collectors.

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Better Credit Blog

NOVEMBER 23, 2020

Whether a lender, landlord, or employer requested a screening of your credit report through ACRAnet, read on to learn more about how a hard inquiry from the company may impact your score. The company also provides retail, commercial, and automotive screening, but on a smaller scale. Foreclosure. Tenant Screening. Charge offs.

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Better Credit Blog

NOVEMBER 17, 2020

The bank also partners with 25 companies to offer rewards credit cards across different industries, including entertainment, travel, and retail. This allows the lender to take a closer look at how you’ve used credit in the past and aids them in the approval process. Foreclosures. Barnes & Noble. Diamond Resorts. Charge offs.

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Better Credit Blog

OCTOBER 28, 2020

That’s because applying for a credit card, loan, or in this case a Mastercard, often results in banks and lenders checking your credit report. eBay Mastercards are issued by Synchrony Bank, a massive national bank offering several retail cards. Foreclosures. eBay Mastercard/SYNCB. Charge offs. Collections.

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Better Credit Blog

FEBRUARY 25, 2021

When you fail to keep up with payments to a service provider or lender, they often hand your debts off to collections agencies. These agencies might buy your debts for pennies on the dollar or get paid to help the original lender/provider collect. Foreclosure. Financial institution. Bankruptcy. Repossessions. Identity fraud.

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Better Credit Blog

JANUARY 5, 2021

They partner with over 145 retailers and financers to offer cards and credit accounts. A hard inquiry could impact any of your credit scores, as some lenders only rely on one or two reports while others utilize all three. Foreclosure. The credit accounts are issued by Comenity Capital Bank. Late payments. Bankruptcy.

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Better Credit Blog

JANUARY 29, 2021

Citibank is a major financial institution that offers credit cards in partnership with numerous retailers, including: Best Buy. That being said, lenders might be discouraged from approving your application if your credit report is riddled with hard inquiries. Foreclosure. NTB/CBNA On My Credit Report. Brooks Brothers.

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Better Credit Blog

JANUARY 29, 2021

If you didn’t apply for a retail card from Macy’s, the inquiry could be a mistake, or it may be the work of an identity thief. Any time you apply for new credit, like a card, loan, or line of credit, the lender might run a hard credit check. Foreclosure. Ask Lex Law for Help. HARD INQUIRIES. Charge offs. Debt collections.

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Better Credit Blog

DECEMBER 23, 2020

Among its extensive lineup of banking products, the institution offers credit cards in partnership with dozens of big-name brands and retailers. Whenever you apply for a line of credit, credit card, or loan, the lender will likely obtain your credit report as a means of vetting you. Foreclosure. Hard Inquiry. Charge offs.

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Better Credit Blog

FEBRUARY 24, 2021

Retail cards. Whenever a lender or company like your phone or internet provider doesn’t receive a payment from you, they may eventually hire a collections agency for assistance. Foreclosure. Telecommunications. At that point, a collections entry is added to your credit report , which can drop your score by several points.

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Better Credit Blog

FEBRUARY 24, 2021

Retail cards. Whenever a lender or company like your phone or internet provider doesn’t receive a payment from you, they may eventually hire a collections agency for assistance. Foreclosure. Telecommunications. At that point, a collections entry is added to your credit report , which can drop your score by several points.

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Better Credit Blog

FEBRUARY 5, 2021

Be paid by the lender to help collect debts. Foreclosure. BRG Collections agency offers several levels of service, including pre-charge off and post-charge off collections for the following types of debt: Credit card. You can reach Bison Recovery Group here: Bison Recovery Group, Inc. 4408 Mile Strip Road, Suite 211. Identity fraud.

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Debt RR

DECEMBER 13, 2019

There are 35 major bankruptcies in 2019 so far, and over two-thirds happened in retail. Distressed homeowners who successfully fought foreclosure lawsuits stemming from the 2010 U.S. foreclosure crisis commonly used this defense. Adding to the problem is a weak economy heading into 2020. trillion worth of debt.

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Troutman Sanders

MAY 9, 2023

The proposed rule would require lenders to assess a borrower’s ability to repay a PACE loan and would provide a framework for how these loans will be treated under the Truth in Lending Act. Strengthen Retail (Consumer) Investor Protections. For more information, click here. HB1349 will take effect on July 23.

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Troutman Sanders

JANUARY 30, 2023

On January 20, the CFPB urged mortgage servicers to remind homeowners with sufficient home equity that a traditional sale could provide a better alternative to foreclosure. The CFPB also noted that the foreclosure process can be expensive for homeowners and can impact wealth accumulation. For more information, click here.

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Troutman Sanders

NOVEMBER 30, 2020

Our bank and loan servicing clients also face novel challenges affecting their industry due to COVID-19, particularly the ever-changing rules and regulations concerning evictions and foreclosures. These preliminary investigations indicate that some lenders could face civil and/or criminal charges relating to the PPP.

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Troutman Sanders

DECEMBER 4, 2023

On December 1, the House of Representatives approved a resolution to repeal a Consumer Financial Protection Bureau (CFPB) rule that mandated banks to gather data on loan applications from women-owned, minority-owned, and small businesses to help lenders identify business development needs and opportunities. For more information, click here.

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