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How to Remove AMEX/DSNB from Your Credit Report

By:
Money Staff
6 min read

Are you curious about an AMEX/DSNB entry on your credit report? If you’re applying for an American Express or store card from Macy’s or Bloomingdale’s, you have no reason to worry. A hard inquiry is simply a lender’s way of checking your credit report to decide whether to approve your application, and a hard credit check is unlikely to damage your credit score unless there are other negative inquiries. This article explains how hard credit inquiries work and provides strategies for removing an inquiry from your report.

What is AMEX/DSNB?

AMEX/DSNB is a credit report code that stands for American Express/Department Stores National Bank. Department Stores National Bank issues two types of credit cards for Bloomingdale’s and Macy’s:

AMEX/DSNB can appear on your credit report for up to two years after you apply for one of these cards or if someone else adds you to their account as an authorized user.

How do hard inquiries work?

When you compare quotes, prequalify for a credit card or check your credit score online, a soft inquiry occurs. It doesn’t necessarily go on your report or lower your credit score. Once you actually apply for a card or loan, your credit report undergoes a hard inquiry. This type of inquiry is more exhaustive and gives your prospective lender access to your entire credit report.

The information on your report helps a lender assess if you’re a responsible borrower and is often the key factor in determining if it approves your application. In addition to lenders, prospective employers often obtain your credit report as a part of their screening process, as do landlords and rental property managers.

Inquiries can impact your score with the three major credit reporting bureaus — TransUnion, Experian and Equifax — and companies can request access to these reports. A hard inquiry stays on your report for two years and can result in a slight hit to your score. The impact is worse if you have multiple inquiries or other negative entries, so limiting your credit card and loan applications will reduce the impact on your score.

When considering credit card applications, do your research, and only apply for cards that you’re likely to get approval for based on your credit history. Additionally, if you’re applying for a particular type of loan, like a mortgage, submit all your applications within a 14-day window.

Learn more: soft versus hard inquiries

How to remove AMEX/DSNB from your credit report

If you don’t apply for a card and an inquiry from AMEX/DSNB appears on your report, it’s usually possible to delete it using the following strategies:

Dispute the inquiry

An unsolicited hard inquiry can indicate identity fraud, which puts your finances in danger. It’s crucial to act quickly to dispute any inaccuracies you notice on your report. Once an entry appears on your report, you have 30 days to dispute it with the company (in this case, DSNB) or with the credit bureaus. You have three options for disputing an entry with the bureaus:

Sending a letter via certified mail provides you with valuable documentation, but the other methods can also work. If the bureaus determine that the entry is illegitimate, they’ll remove it from your report. The key to deleting an entry is to move quickly.

A free credit monitoring service is an invaluable asset, as it alerts you to changes on your report. An app such as Credit Karma will notify you of updates to your report, give you recommendations for improving your score and provide you with customized offers for cards and loans in your credit range. You can also take advantage of annualcreditreport.com, which gives you a free copy of your credit report each year.

Use a credit repair company

You may prefer to leave disputing errors and cleaning up your credit to the pros. There are plenty of reputable credit repair companies that can help you with your credit problems and provide you with a comprehensive plan to improve your credit score. They specialize in disputing fraudulent inquiries with companies and credit bureaus, which can save you a ton of time and eliminate the hassle of confronting the bureaus yourself. They can also assist you with more complicated credit problems, such as:

Most companies offer multiple levels of service, so you can pick one according to your budget and the level of assistance you need.

Dealing with AMEX/DSNB

If you apply for a Bloomingdale’s or Macy’s card or a friend or relative adds you as an authorized user, there’s no need for concern. A hard inquiry may have a small impact on your score, but it’s a routine part of applying for new credit. However, if neither of these scenarios apply, it’s important to act quickly and contact the credit bureaus and Department Stores National Bank.

Regardless of whether it’s a reporting error or someone using your identity fraudulently, you need to get to the bottom of things. And if you don’t want to go it alone, a credit repair company can help you through the process.

Disclaimer: This story was originally published on November 30, 2020, on BetterCreditBlog.org. To find the most relevant information concerning collections or credit card inquiries, please visit: https://money.com/how-to-remove-collections-from-credit-report/ or https://money.com/get-items-removed-from-credit-report/

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