What does CITIZENSBK mean on my credit report?

Is CITIZENSBK making an impact on your credit score?

Updated January 1, 2023
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What is CITIZENSBK?

CITIZENSBK is shorthand for Citizens Bank, with the company name being Citizens Bank Inc

Twenty-four initial investors raised 35,000 dollars in order to establish the bank. Throughout the early years, customers were allowed to make depositors and cash checks at The Rankin Company. The bank grew and flourished thanks to Harry Rankin, who led it during the period from 1968 onwards when it became one of the most technologically advanced banks in the area.

CITIZENSBK 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 Citizens Bank.

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

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

About the account

The account is classified under the following METRO2 categories:

  • ⚫ Collection Agency/Attorney
  • ⚫ Auto Loan
  • ⚫ Secured
  • ⚫ Unsecured

How do I contact them?

Here is the current contact details for Citizens Bank:

Address:

  • P.O. Box 232 814 Main Street Columbia, MS 39429

Website:

Email:

Phone:

Payments

Question Answer
Do they offer a monthly payment plan? No
Can I make payments over the phone? No
Can I make payments online? Yes
Can I make a payment using a mobile app? Yes

Forgiveness and Cancellation

There are three main types of student loan forgiveness: cancellation, discharge, and repayment plans. Loan consolidation is a process where you combine all your federal student loans into a single loan with a single monthly payment.

Question Answer
Do they offer loan consolidation? No

How to Apply

It is possible to apply for a loan online, over the phone, or in person. Some lenders also offer the option to apply for a loan using a mobile app. In some cases, it may be possible to apply for a loan with a cosigner.

Question Answer
Can I apply for a loan online? Yes
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? Yes
Can I apply for a loan with a cosigner? Yes

SmartCredit Report Example

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

CITIZENSBK SmartCredit 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 CITIZENSBK 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.