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What is CCB/LNDINGCL on my credit report?
CCB/LNDINGCL stands for Comenity Capital Bank/LendingClub Patient Solutions .
LendingClub Patient Solutions ( once Springstone Financial ) is a service offered by LendingClub, a bank and fiscal technology party. LendingClub Patient Solutions provides loans and lines of credit for medical procedures such as dentistry, weight loss treatments, fertility treatments, and hair restoration. 1 2
LendingClub’s relationship with Comenity Capital Bank
Comenity Capital Bank ( CCB ) has issued many of LendingClub ’ s credit accounts since 2014. 3 4
specifically, Comenity issues LendingClub ’ s revolving recognition accounts, which are lines of credit that you can withdraw from each month. ( Credit cards are the most common character of revolving credit. )
This means that if you see CCB/LNDINGCL on your credit report, you probably applied for a recognition poster or another type of revolving report from LendingClub Patient Solutions .
LendingClub works with more than one bank
LendingClub besides works with NBT Bank and their own LendingClub Bank to provide citation accounts. 5 3 however, if the mark on your credit report has CCB in it, you know your account is with Comenity Bank and not any of these others .
Comenity Capital Bank’s other affiliates
If CCB appears on your credit report but you don ’ triiodothyronine have an history with LendingClub, then you may have an account with one of Comenity Capital Bank ’ s other affiliates. Comenity Capital Bank partners with businesses in a variety of industries to offer over 145 credit cards. 6
Is CCB/LNDINGCL a scam?
No, CCB/LNDINGCL isn ’ t a victimize. Comenity Bank and LendingClub are legitimate organizations. If they ’ re on your credit report, it probably indicates that you have an report with them or they checked your credit .
If you ’ re certain that there ’ sulfur activity on your credit report under CCB/LNDINGCL that shouldn ’ deoxythymidine monophosphate be there, it ’ second possible you ’ ve been the victim of identity larceny .
We ’ ll discuss the reasons ( both legalize and deceitful ) that CCB/LNDINGCL might be on your credit report in more detail in the next section .
Why is CCB/LNDINGCL on my credit report?
CCB/LNDINGCL can appear on your accredit report for a issue of reasons, some negative and some harmless. It ’ s potential for it to show up even if you don ’ t have a LendingClub accredit history .
here are some reasons why CCB/LNDINGCL might be on your credit report :
1. Comenity Bank checked your credit
You ’ ll see CCB/LNDINGCL on your recognition report if Comenity Bank ran a recognition check to determine whether or not to extend credit to you. This type of credit check can appear as a hard inquiry or a easy inquiry .
- Hard inquiries: These generally appear on your credit report when you apply for new credit, such as credit cards, store cards, or installment loans. For example, if you applied for a LendingClub credit card, Comenity Bank probably triggered a hard inquiry when reviewing your application.
- Soft inquiries: These show up on your credit report when someone checks your credit but you’re not actually in search of new credit. For example, if you received an unsolicited offer letter in the mail for a credit card issued by Comenity Bank, then they may have triggered a soft inquiry during the prequalification process.
thankfully, easy inquiries won ’ triiodothyronine affect your credit grade. hard inquiries normally lower your recognition score by several points, but the effect won ’ triiodothyronine end more than a year, and the question will fall off your credit report wholly after two years. note that you normally can ’ thymine remove a hard question early unless the chest of drawers added it to your report by mistake .
2. You have a LendingClub credit account
CCB/LNDINGCL will appear on your credit reputation if you presently have or previously had a LendingClub credit account. even if you closed your account, CCB/LNDINGCL can stay on your citation report for 7 years ( if the report was delinquent due to miss payments ) to 10 years ( if the report was in good standing ) .
You might find your LendingClub accredit account marked as closed even if you never took any active steps to close it. This can happen due to account inactivity—it ’ sulfur park for lenders to close credit rating accounts if they haven ’ metric ton been used for a while .
3. You’re an authorized user on someone else’s LendingClub credit account
CCB/LNDINGCL can show up on your credit report if person else added you as an empower drug user to their own LendingClub credit explanation .
You might have been named as an authorized drug user by your :
- Business partner
If person designated you as an empower user on their LendingClub citation report, their activities on the account could affect your credit score .
If the primary cardholder is a responsible person and a reliable borrower, being an authorized user on their report will credibly improve your credit score by helping you build a incontrovertible requital history. On the other hand, you might notice a drop in your credit score if the chief cardholder neglects their payments or cancels their report with amateur debt .
similarly, your practice of person else ’ south credit will affect their credit rating score, so take care when acting as an authorized user .
4. You’re a victim of identity theft
If you see a CCB/LNDINGCL intemperate inquiry on your credit report card but you ’ ra sure you didn ’ t enforce for a LendingClub credit account, it could be a sign of identity larceny .
If you think that CCB/LNDINGCL is on your credit composition because person ’ s trying to fraudulently open accounts in your name, take these steps :
- Contact the company that made the hard inquiry (which will be Comenity Bank, unless they hired another company to perform the inquiry for them). Tell them you didn’t authorize the inquiry. Ask them for details (i.e., when and under what circumstances their records show the inquiry was authorized).
- Report the identity theft to the Federal Trade Commission (FTC). Go to www.identitytheft.gov and answer the questions to generate an identity theft report and recovery plan.
- Contact any of the three main credit bureaus (Equifax, Experian, or TransUnion) and have a fraud alert placed on your credit report. You only need to contact one of the bureaus; they’ll coordinate with the others, and your fraud alert will be acknowledged by all three.
You may besides want to freeze your credit ( or get a accredit lock, which is very alike ) .
cautiously monitor your credit reports over the following few months for far signs of deceitful activeness .
How does CCB/LNDINGCL affect my credit score?
There are respective ways that CCB/LNDINGCL can affect your credit seduce, depending on whether they triggered an inquiry or manage one of your accounts .
As mentioned, a one hard question will have a little, short-run effect on your credit, normally lowering your FICO score by up to five points and your VantageScore credit score by 5–10 points .
This impression is normally accumulative, so excessively many hard inquiries can very hurt your grade. however, a individual inquiry international relations and security network ’ t something to worry about—your credit score ranges from 300 to 850, which means 5 points in either guidance international relations and security network ’ thymine significant .
Open and closed accounts
If you have an open or close CCB/LNDINGCL account on your credit report, then it ’ randomness contributing to your credit seduce by influencing the surveil factors :
If the explanation is open, then it ’ s besides contributing to your credit utilization pace ( besides known as your debt-to-credit ratio ) .
To learn how your CCB/LNDINGCL score will affect your accredit seduce, familiarize yourself with the factors that make up your FICO grudge and VantageScore .
Don’t rush to close your account
Closing an account can hurt your credit score by reducing your available accredit ( which will increase your credit use rate ). Use the report occasionally to prevent your creditor from closing it due to inactiveness, and alone close it if keeping it open will jeopardize your finances .
How to remove CCB/LNDINGCL from my credit report
If you want to delete CCB/LNDINGCL from your credit report, then try one of the following approaches .
1. Send a dispute letter
If you see an item listed under CCB/LNDINGCL on your recognition report that you suspect is a error, then you can dispute it by writing something known as a credit dispute letter .
You should send your letter to whoever you think the error originated with. You can send it to :
- Comenity Bank: Send your letter directly to them if you believe they made the original mistake (e.g., they reported a credit check to the bureaus that you never actually authorized).
- The credit bureaus: Write to the credit bureaus if you believe the error originated witih them (e.g., they confused you with someone with a similar name or Social Security number).
Either way, it ’ second normally a good theme to send copies of the letter to both parties, the agency and your tease issuer ( Comenity Bank ). They may contact each other as they investigate the matter, and it ’ s important to make sure everybody has received the relevant information .
Credit Dispute Letter to a Credit Bureau
If you think one of the credit rating agency added CCB/LNDINGCL to your citation report by mistake, use this credit quarrel letter template to file a challenge directly with them. Send your letter to all of the chest of drawers that are reporting the mistaken hard question or credit bill .
Credit Dispute Letter to Comenity Bank
Use this letter if you think CCB/LNDINGCL is on your credit report because Comenity Bank mistakenly reported a recognition check or account to the agency. Address and send your letter to Comenity Bank, not LendingClub .
once you ’ ve filed your credit quarrel, the credit agency will be required to investigate and correct any inaccurate information on your report, normally within 30–45 days .
2. Use a credit repair company
A credit rectify caller will act as a contact between yourself and your wag issuer ( and the credit chest of drawers ). They might be able to get a hard question or another CCB/LNDINGCL item off your credit report by helping you gather attest and handling all the compulsory communication.
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however, be leery of scammers. There are restrictions on the cost of credit repair—by law, credit rating repair companies are not allowed to charge you before they ’ ve helped you. If they ask for payment upfront, hire a unlike company .
Although hiring a credit haunt company can save you some prison term and hassle in disputing items on your credit report, bear in mind that they can ’ t do anything for you that you can ’ t do yourself .
They besides won ’ t necessarily be able to erase valid negative information or turn a badly credit score into a thoroughly credit rating score overnight. Think carefully ahead hiring a third-party company to get CCB/LNDINGCL off your accredit report .
Takeaway: CCB/LNDINGCL can appear on your credit report for several reasons
- CCB/LNDINGCL can appear on your credit report as a hard inquiry or as an open or closed credit account, either belonging to you or someone who has authorized you to use it.
- How CCB/LNDINGCL will affect your credit score depends on your credit history and the status of the account.
- You can get CCB/LNDINGCL off your credit report by sending a dispute letter to the credit bureaus and Comenity Bank. Alternately, you can hire a credit repair company.