George Simons | October 19, 2022
Summary: Is THD/CBNA showing up on your credit report? Here is SoloSuit's guide on THD/CBNA and how to prevent them from affecting your credit.
THD/CBNA is one of the codes that appear on your credit report when you apply for a Home Depot credit card issued by Citibank. The acronym stands for The Home Depot/Citibank North America and may also appear as CBNA/THD. Here's all you need to know about this code.
The Home Depot is the largest home improvement retailer in the US, selling a wide range of home improvement products from home appliances to construction materials. In addition, the company works together with Citibank North America to issue consumer credit cards to their customers. These credit cards include:
If you've recently applied for any of these three cards and authorized Citibank to access your credit history, you may find a hard credit inquiry entry in your credit report. Alternatively, this code may appear on your credit report if you've been listed as an authorized user by a primary cardholder..
A hard credit inquiry occurs when a lender checks your credit history following your application for financing or other credit applications. They assess your past borrowing behavior, including how well you repay your debts on time and any negative remarks from previous debts.
Lenders often use your credit history to determine whether you are creditworthy. A bad credit history reduces your chances of being approved for loans or may attract higher interest rates for any missed payments.
A soft inquiry is when you authorize someone to check your credit report. For example, if you request a prequalification for one of The Home Depot credit cards, the company may access your credit history. As a result, the entry may appear on your credit report but will not have any impact on your credit score.
The THD/CBNA inquiry remains in your credit report for two years from the inquiry date. Although it negatively impacts your credit score, a single entry may not decrease your score by more than five points. Additionally, it may have a lower impact if you have a good credit history and no derogatory remarks in your credit report.
Unfortunately, you can't remove a THD/CBNA hard inquiry from your credit reports if you applied for one of The Home Depot's credit cards. The entry will stay on your credit report until after two years. However, you should have no reason to worry about it because it won't affect your credit score for a long time.
The real problem occurs when THD/CBNA appears in your report without your knowledge, and you're not an authorized user of any Home Deport credit card issued by Citibank. If that happens, you should be concerned because you could be a victim of identity theft or an erroneous entry. Either way, you need to act fast to solve this issue before it ruins your financial record.
Here's how to resolve this issue.
If you find an unauthorized THD/CBNA inquiry in your credit report, Citibank should provide you with the information you need to identify the individual or entity that authorized the inquiry. At this point, you can compare details such as your name, Social Security Number, and address with the information you obtain from the bank. If there's an error in the report, contact Citibank right away and let them know they got the wrong details. Citibank must then write to all three credit bureaus — Equifax, Experian, and TransUnion — to request the removal of the entry from your credit report.
However, if the information you obtain verifies that you authorized the inquiry but have no idea how that happened, you need to report a possible case of identity theft.
Visit the Federal Trade Commission official website to report and document the suspected identity theft. It's also a good idea to file a report with your local police department, especially if you recently lost anything through robbery, burglary, or any form of crime.
The next step is to request the three credit bureaus to freeze your credit account to stop any further fraud attempts in your account. Freezing your accounts restricts access to your credit reports and prevents any new unauthorized accounts from being opened.
Credit bureaus can also alert you in case of a suspected fraud attempt. The free fraud alert lasts for one year and is renewable after expiry.
Lastly, you can dispute the unauthorized inquiry with the three credit bureaus. Doing so mandates the credit bureaus to investigate all the inaccuracies before recording the entry in your credit report again.
If you are an authorized user of any of the three credit cards issued by The Home Depot, this may be another reason that a THD/CBNA inquiry appears in your credit report. Besides having access to the credit card, being an authorized user can positively impact your credit since the account actively appears on your report. Additionally, you aren't responsible for paying the debt.
However, if the cardholder has a high utilization ratio or skips payments, your credit may suffer the consequences. If this is something you don't want to deal with, you can contact Citibank to remove you as an authorized user of the account.
Once you are no longer listed as an authorized user, the credit bureaus can remove the account from your credit report and reverse its effects on your credit score.
Having a THD/CBNA inquiry in your credit report isn't a bad thing. However, you should ensure that all the information about the credit inquiry is accurate and that you're not a victim of fraud. In addition, if you have no idea about the credit inquiry and you're not an authorized user, you should report the incident to avoid financial problems in the future.
If Home Depot Consumer Credit Card or Citibank have contacted you about a debt you owe, the worst thing to do is ignore them. If either organization is suing you, the first step you should take to win the case is to file an Answer with the court.
When Citibank sues you for a Home Depot credit card debt, you may feel tempted to ignore the lawsuit. In fact, most consumers ignore such cases, which is why almost 90% of debt lawsuits are automatically lost because people simply don't know how to respond. Failure to respond usually results in default judgment being entered against you which can cause major financial problems like wage garnishment.
SoloSuit can help you respond to a debt lawsuit in minutes, increase your chances of winning with an attorney's review, and file the Answer for you.
SoloSuit makes it easy to respond to a debt collection lawsuit.
How it works: SoloSuit is a step-by-step web-app that asks you all the necessary questions to complete your answer. Upon completion, you can either print the completed forms and mail in the hard copies to the courts or you can pay SoloSuit to file it for you and to have an attorney review the document.
"First time getting sued by a debt collector and I was searching all over YouTube and ran across SoloSuit, so I decided to buy their services with their attorney reviewed documentation which cost extra but it was well worth it! SoloSuit sent the documentation to the parties and to the court which saved me time from having to go to court and in a few weeks the case got dismissed!" – James
You can ask your questions on the SoloSuit forum and the community will help you out. Whether you need help now or are just looking for support, we're here for you.
>>Read the NPR story on SoloSuit: A Student Solution To Give Utah Debtors A Fighting Chance
Here's a list of guides for other states.
Being sued by a different debt collector? Were making guides on how to beat each one.
Is your credit card company suing you? Learn how you can beat each one.
Going to Court for Credit Card Debt — Key Tips
How to Negotiate Credit Card Debts
How to Settle a Credit Card Debt Lawsuit — Ultimate Guide
Need more info on statutes of limitations? Read our 50-state guide.
Why do debt collectors block their phone numbers?
How long do debt collectors take to respond to debt validation letters?
What are the biggest debt collector companies in the US?
Is Zombie Debt Still a Problem in 2019?
If a car is repossessed, do I still owe the debt?
Is Portfolio Recovery Associates Legit?
Is There a Judgment Against Me Without my Knowledge?
Should I File Bankruptcy Before or After a Judgment?
What is a default judgment?— What do I do?
Summoned to Court for Medical Bills — What Do I Do?
What Happens If Someone Sues You and You Have No Money?
What Happens If You Never Answer Debt Collectors?
What Happens When a Debt Is Sold to a Collection Agency
What is a Stipulated Judgment?
What is the Deadline for a Defendants Answer to Avoid a Default Judgment?
Can a Judgement Creditor Take my Car?
Can I Settle a Debt After Being Served?
Can You Appeal a Default Judgement?
Do I Need a Debt Collection Defense Attorney?
Do I Need a Payday Loans Lawyer?
Do student loans go away after 7 years? — Student Loan Debt Guide
Am I Responsible for My Spouses Medical Debt?
Should I Marry Someone With Debt?
Can a Debt Collector Leave a Voicemail?
How Does Debt Assignment Work?
What Happens If a Defendant Does Not Pay a Judgment?
How Does Debt Assignment Work?
Can You Serve Someone with a Collections Lawsuit at Their Work?
How Many Times Can a Judgment be Renewed in Oklahoma?
Does Debt Consolidation Have Risks?
What Happens If You Avoid Getting Served Court Papers?
Does Student Debt Die With You?
Can Debt Collectors Call You at Work in Texas?
How Much Do You Have to Be in Debt to File for Chapter 7?
What Is the Statute of Limitations on Debt in Washington?
How Long Does a Judgment Last?
Can Private Disability Payments Be Garnished?
Can Debt Collectors Call From Local Numbers?
Does the Fair Credit Reporting Act Work in Florida?
The Truth: Should You Never Pay a Debt Collection Agency?
Should You Communicate with a Debt Collector in Writing or by Telephone?
What Happens After a Motion for Default Is Filed?
Can a Process Server Leave a Summons Taped to My Door?
Need help managing your finances? Check out these resources.
How to Make a Debt Validation Letter - The Ultimate Guide
How to Make a Motion to Compel Arbitration Without an Attorney
How to Stop Wage Garnishment — Everything You Need to Know
How to File an FDCPA Complaint Against Your Debt Collector (Ultimate Guide)
Defending Yourself in Court Against a Debt Collector
Tips on you can to file an FDCPA lawsuit against a debt collection agency
Advice on how to answer a summons for debt collection.
Effective strategies for how to get back on track after a debt lawsuit
New Hampshire Statute of Limitations on Debt
Sample Cease and Desist Letter Against Debt Collectors
The Ultimate Guide to Responding to a Debt Collection Lawsuit in Utah
West Virginia Statute of Limitations on Debt
What debt collectors cannot do — FDCPA explained
Defending Yourself in Court Against Debt Collector
Arkansas Statute of Limitations on Debt
Youre Drowning in Debt — Heres How to Swim
Help! Im Being Sued by My Debt Collector
How to Make a Motion to Vacate Judgment
How to Answer Summons for Debt Collection in Vermont
North Dakota Statute of Limitations on Debt
ClearPoint Debt Management Review
Indiana Statute of Limitations on Debt
Oregon Eviction Laws - What They Say
CuraDebt Debt Settlement Review
How to Write a Re-Aging Debt Letter
How to Appear in Court by Phone
How to Use the Doctrine of Unclean Hands
Debt Consolidation in Eugene, Oregon
Summoned to Court for Medical Bills? What to Do Next
How to Make a Debt Settlement Agreement
Received a 3-Day Eviction Notice? Heres What to Do
How to Answer a Lawsuit for Debt Collection
Tips for Leaving the Country With Unpaid Credit Card Debt
Kansas Statute of Limitations on Debt Collection
How to File in Small Claims Court in Iowa
How to File a Civil Answer in Kings County Supreme Court
Roseland Associates Debt Consolidation Review
Do Debt Collectors Ever Give Up?
Can They Garnish Your Wages for Credit Card Debt?
How Often Do Credit Card Companies Sue for Non-Payment?
How Long Does a Judgment Last?
How Long Before a Creditor Can Garnish Wages?
How to Beat a Bill Collector in Court