THD / CBNA is a code that appears on credit reports and often confuses users. There are precisely two reasons why this acronym is recorded on your report. The code is nothing more than The Home Depot/ Citibank North America summary.
One of the most frequent reasons for this acronym to appear is because the user applied for a Home Depot credit card issued by Citibank. The acronym may also be reflected in the reverse report: CBNA/ THD.
The Home Depot is one of the largest retailers in the United States and works in alliance with Citibank to issue cards to its customers for the consumption of appliances, accessories and home repairs. In the following lines, we will clarify all doubts regarding the code and whether it is possible to remove it from the registry.
What does THD / CBNA mean on my credit record?
THD /CBNA is an acronym for The Home Depot/ Citibank North America. The Home Depot is one of the world’s largest home improvement retailers. With more than 2,300 U.S. locations and half a million employees, it works with Citibank to offer credit card financing to its customers.
This code may be reflected in the report as a hard inquiry or a soft inquiry.
Why does THD/ CBNA appear on my credit card report?
As previously mentioned, the THD/ CBNA code appears on your credit report for two reasons:
- You applied for a The Home Depot credit card
- You were added as an authorized user on a The Home Depot credit card
You applied for a credit card from The Home Depot
The Home Depot offers three types of credit cards for its customers, issued through Citibank. When a user applies for any of these cards, the abbreviations previously mentioned are reflected in the credit history. The cards are:
- The Home Depot Commercial Revolving Charge Card.
- The Home Depot Consumer Credit Card
- The Home Depot Business Account
In some cases, applying for this credit card is negative for the customer because it reflects a hard inquiry. This means that the user is being investigated to see if he/she qualifies as a good candidate for financing.
During this period, the three most important agencies in the United States, Experian, Equifax and TransUnion, are in charge of compiling the customer’s history under an audit. During this period, the acronyms will be reflected and could remain there for up to two years.
The authorized user is created when one person is allowed to charge items and products from another person’s credit card. It differs from a joint account in that the authorized user does not have to apply for a credit card together with the main customer.
A tacit example of this figure is when companies add certain employees as authorized users so that they can pay on behalf of the company.
Authorized users are not responsible for the payment of the debt; however, this does not mean that their credit score cannot be affected positively or negatively by the actions of the primary customer.
If the primary user is a defaulter or has a very large debt, this will be reflected on the authorized user’s credit report. Conversely, if they are a responsible customer who fulfil their commitments, the positive endorsement will also show up on your credit report.
Can I remove THD/ CBNA from my credit history?
No, the customer does not have the ability to remove the acronym from the credit record. If you applied for a credit card from The Home Depot, you agreed to allow the financial companies to scrutinize your credit history. In this case, the audit is completely valid and may take up to two years to disappear. Although this investigation could affect your credit file, you should not worry because it will not be for long.
When you are an authorized user, the acronym also appears as long as you keep this figure. When the primary customer cancels the authorization, the code is automatically deleted. Remember that all actions of the primary beneficiary directly affect your credit record.
What to do if the acronyms appear without my consent?
When acronyms appear without applying for a Home Depot credit card or being an authorized user, it is cause for concern. In some cases, customers can be victims of identity theft or system errors.
In either case, it is imperative to contact Citibank quickly to avoid further consequences. The ideal ways to resolve this are:
Citibank is the entity in charge of giving you all the necessary information. You can identify the person who gave the authorization or applied for the card.
In some cases, entities can confuse basic data such as addresses, social security numbers or names and may tie the wrong person. These types of cases can be resolved by the institution without any problems. But, if the record reflects your data while you are claiming that it was not you, then a complaint should be filed.
Fraud reporting and whistleblowing
You can visit the official website of the Federal Trade Commission in the fraud section and report fraud. To enter directly, you can click here.
If you have been a victim of theft, you can file a formal complaint with the local police and make a record of the incident.
Freeze your credit card
Ask the three financial institutions, Experian, Equifax and TransUnion, to freeze your credit card to prevent any fraud attempts.
It is also possible to dispute an inquiry to these three agencies. Upon request, they are required to do a thorough investigation of any inconsistencies prior to recording the report.