What does BANNERBANK mean on my credit report?

Is BANNERBANK making an impact on your credit score?

Updated January 1, 2023
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What is BANNERBANK?

BANNERBANK is shorthand for Banner Bank, with the company name being Banner Bank

It’s our pleasure to serve you. You can contact us Monday through Sunday by calling 800-272-9933 from 7 am to 7 pm Pacific time, or visiting us during normal office hours. For automated payment confirmation inquiries, transactions, account balance questions, and more, please call any time, 24 hours a day, seven days a week for online help. Click here to begin a Text Conversation with Live Support.

BANNERBANK is a Bank provider. They could be on your report for a number of reasons, for example:

  • ⚫ You missed a repayment.

  • ⚫ You opened an account with Banner Bank.

  • ⚫ You opened a credit card / loan / mortgage with this company.

  • ⚫ Someone fraudulently opened a credit line under your name.

About the account

  • ⚫ The average high credit balance is $60400.

  • ⚫ The typical loan duration is 72 months.

  • ⚫ The average credit limit is $24000.

The account is classified under the following METRO2 categories:

  • ⚫ Real estate

How do I contact them?

Here is the current contact details for Banner Bank:

Address:

  • 10 South First Avenue, P.O. Box 907, Walla Walla, WA 99362

Website:

Email:

Phone:

Payments

To make a payment, you can either do it online or by contacting a representative and making a payment using a prepaid debit card. There are no other payment options, such as using a check or money order. There are no penalties for late or missed payments during a disaster forbearance plan.

Question Answer
Do they offer a monthly payment plan? No
Can I make payments over the phone? No
Can I make payments online? Yes
Do they offer a discount for automatic payments? No
Can I make a payment using a mobile app? No
Can I make a payment using a prepaid debit card? Yes
Can I make a payment using a wire transfer? No

Forgiveness and Cancellation

they do not offer loan consolidation or loan forgiveness. However, eligible borrowers may be able to apply for reduced or suspended mortgage payments for a period of time.

Question Answer
Do they offer loan forgiveness? No
Do they offer loan consolidation? No

How to Apply

At this time, Banner Bank does not allow for loans to be applied for online, over the phone, or in person. If you have experienced a financial hardship due to an eligible disaster, you may be able to discuss a disaster forbearance plan with benefits such as reduced or suspended mortgage payments for a period of time with no late fees or additional interest added to your account, and no delinquency status reported to credit reporting agencies.

Question Answer
Can I apply for a loan online? No
Can I apply for a loan over a phone call? No
Can I apply for a loan in person? No
Can I apply for a loan using a mobile app? No
Can I apply for a loan with a cosigner? No

IdentityIQ Report Example

  • This is an example of what this creditor will look like on your IdentityIQ report.

BANNERBANK IdentityIQ Report

Will this affect my credit score?

Whether this account affects your credit score depends on a variety of factors, such as:

  • Account Open Date: If you opened this account recently it will impact your credit, the only way to prevent this from impacting your credit score is to remove the account from your report.
  • Derogatory Markings: If this account has any derogatory markings such as: Lates, Charge Offs, Collections and others.

However, there are could be some potential positive aspects to this account which could lead to improving your credit score, such as:

  • Account Age: If your account is quite old, then the age of it will positively impact your credit score
  • Repayment History: If the account has no Late Payments, Charge off Payments, then it may reflect a positive impact onto your credit score.

Can it be removed from my credit report?

Yes, with the right strategy, you will be able to remove any account from your report. But you have to be careful to ensure that the account is negative to begin with, or it will negatively impact your credit score.

However, removing a negative account will positively impact your credit score, allowing you to open new credit lines and potentially removing bad debt.

What is a Bank

A bank is an institution where money is kept for saving or commercial purposes. They are able to offer Loans and Mortgages which means they have the ability to report on your credit. Banks are generally felt as untrustworthy (30% confidence rating in the USA) by the general public. Banks can make mistakes on your credit report which may lower your credit score, potentially damaging your credit report and costing you money.

How do I remove BANNERBANK from my credit report?

You can send a dispute letter to the credit bureaus to remove this account from your report. You must send a dispute letter to all three credit bureaus, as they are legally required to remove the account from your report if it is found to be inaccurate. For best results you should send a dispute letter to the credit bureaus via certified mail, this will ensure that you have a legal record of the communication.