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 avail offered by LendingClub, a bank and fiscal technology company. LendingClub Patient Solutions provides loans and lines of credit for checkup procedures such as dentistry, weight loss treatments, richness 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 credit accounts, which are lines of citation that you can withdraw from each month. ( Credit cards are the most common type of revolving credit rating. )
This means that if you see CCB/LNDINGCL on your credit report, you credibly applied for a credit card or another type of revolving account from LendingClub Patient Solutions .
LendingClub works with more than one bank
LendingClub besides works with NBT Bank and their own LendingClub Bank to provide credit accounts. 5 3 however, if the bell ringer on your credit report has CCB in it, you know your explanation is with Comenity Bank and not any of these others .
Comenity Capital Bank’s other affiliates
If CCB appears on your credit rating reputation but you don ’ thyroxine have an history with LendingClub, then you may have an account with one of Comenity Capital Bank ’ s early affiliates. Comenity Capital Bank partners with businesses in a kind of industries to offer over 145 credit cards. 6
Is CCB/LNDINGCL a scam?
No, CCB/LNDINGCL isn ’ t a scam. Comenity Bank and LendingClub are legitimate organizations. If they ’ re on your credit reputation, it credibly indicates that you have an report with them or they checked your credit .
If you ’ re certain that there ’ s bodily process on your credit report under CCB/LNDINGCL that shouldn ’ deoxythymidine monophosphate be there, it ’ s potential 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 following segment .
Why is CCB/LNDINGCL on my credit report?
CCB/LNDINGCL can appear on your recognition report for a number of reasons, some minus and some harmless. It ’ s potential for it to show up tied if you don ’ t have a LendingClub credit history .
here are some reasons why CCB/LNDINGCL might be on your credit composition :
1. Comenity Bank checked your credit
You ’ ll see CCB/LNDINGCL on your credit report if Comenity Bank ran a credit check to determine whether or not to extend credit to you. This character of credit check can appear as a hard inquiry or a soft 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, cushy inquiries won ’ thymine affect your credit score. hard inquiries normally lower your credit score by respective points, but the effect won ’ thyroxine last more than a year, and the question will fall off your credit report entirely after two years. note that you normally can ’ triiodothyronine remove a hard inquiry early unless the agency added it to your report by mistake .
2. You have a LendingClub credit account
CCB/LNDINGCL will appear on your credit report if you presently have or previously had a LendingClub credit account. even if you closed your account, CCB/LNDINGCL can stay on your credit rating report for 7 years ( if the bill was delinquent due to miss payments ) to 10 years ( if the bill was in good digest ) .
You might find your LendingClub credit account marked as closed even if you never took any active steps to close it. This can happen due to account inactivity—it ’ s common for lenders to close credit accounts if they haven ’ thyroxine 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 recognition reputation if person else added you as an authorize drug user to their own LendingClub credit score .
You might have been named as an authorized user by your :
- Business partner
If person designated you as an authoritative drug user on their LendingClub credit account, their activities on the account could affect your accredit score .
If the basal cardholder is a responsible person and a authentic borrower, being an authorized exploiter on their account will probably improve your credit score by helping you build a positive requital history. On the early hand, you might notice a drop in your credit rating score if the primary cardholder neglects their payments or cancels their report with unpaid debt .
similarly, your use of person else ’ south credit will affect their credit score, so take caution when acting as an authorize user .
4. You’re a victim of identity theft
If you see a CCB/LNDINGCL hard inquiry on your citation report but you ’ ra sure you didn ’ thymine enforce for a LendingClub credit rating account, it could be a sign of identity larceny.
If you think that CCB/LNDINGCL is on your credit report 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 citation lock, which is very similar ) .
cautiously monitor your credit reports over the next few months for far signs of deceitful activity .
How does CCB/LNDINGCL affect my credit score?
There are respective ways that CCB/LNDINGCL can affect your credit score, depending on whether they triggered an inquiry or manage one of your accounts .
As mentioned, a individual hard inquiry will have a little, short-run effect on your accredit, normally lowering your FICO score by up to five points and your VantageScore credit score by 5–10 points .
This effect is normally accumulative, therefore besides many hard inquiries can very hurt your grudge. however, a single inquiry international relations and security network ’ metric ton something to worry about—your accredit score ranges from 300 to 850, which means 5 points in either direction international relations and security network ’ thymine significant .
Open and closed accounts
If you have an assailable or close CCB/LNDINGCL bill on your recognition report, then it ’ s contributing to your credit score by influencing the adopt factors :
If the account is open, then it ’ s besides contributing to your credit use rate ( besides known as your debt-to-credit ratio ) .
To learn how your CCB/LNDINGCL account will affect your credit score, familiarize yourself with the factors that make up your FICO score and VantageScore .
Don’t rush to close your account
Closing an account can hurt your credit grade by reducing your available recognition ( which will increase your credit use rate ). Use the account occasionally to prevent your creditor from closing it due to inaction, and lone close it if keeping it afford 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 follow approaches .
1. Send a dispute letter
If you see an detail listed under CCB/LNDINGCL on your credit composition that you suspect is a mistake, 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 ’ south normally a well estimate to send copies of the letter to both parties, the agency and your card issuer ( Comenity Bank ). They may contact each other as they investigate the matter, and it ’ s significant to make certain everybody has received the relevant information .
Credit Dispute Letter to a Credit Bureau
If you think one of the credit bureaus added CCB/LNDINGCL to your credit report by mistake, use this credit dispute letter template to file a dispute directly with them. Send your letter to all of the bureaus that are reporting the mistaken hard inquiry or credit account.
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 credit check or account to the bureaus. Address and send your letter to Comenity Bank, not LendingClub.
once you ’ ve filed your credit rating challenge, the credit chest of drawers 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 repair company will act as a contact between yourself and your card issuer ( and the credit rating agency ). They might be able to get a hard inquiry or another CCB/LNDINGCL item off your citation reputation by helping you gather tell and handling all the command communication.
however, be leery of scammers. There are restrictions on the cost of accredit repair—by law, credit repair companies are not allowed to charge you before they ’ ve helped you. If they ask for requital upfront, hire a different company .
Although hiring a credit rating repair company can save you some time 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 inevitably be able to erase valid damaging information or turn a bad credit score into a good credit score overnight. Think carefully ahead hiring a third-party company to get CCB/LNDINGCL off your credit 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.