What does CITY NAT BK mean on my credit report?

Learn about CITY NAT BK, an bank offering loans for financial assistance. Check the impact to your credit report and financial status.

Updated January 1, 2023
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What is CITY NAT BK?

CITY NAT BK is shorthand for City National Bank, with the company name being City National Bank Inc

CITY NAT BK 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 City National 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:

  • ⚫ Secured

How do I contact them?

Here is the current contact details for City National Bank:

Address:

  • 2401 East Katella Avenue Suite 150 Anaheim, California 92806

Website:

Email:

Phone:

Payments

You can make a payment online, over the phone, or using a mobile app. You can also make a payment using a prepaid debit card, wire transfer, or check. There is a discount for automatic payments. There are penalties for late or missed payments.

Question Answer
Do they offer a monthly payment plan? Yes
Can I make payments over the phone? Yes
Can I make payments online? Yes
Do they offer a discount for automatic payments? Yes
Can I make a payment using a mobile app? Yes
Can I make a payment using a prepaid debit card? Yes
Can I make a payment using a wire transfer? Yes

Forgiveness and Cancellation

There are three main types of student loan forgiveness: 1) Perkins Loan Cancellation and Discharge, 2) Public Service Loan Forgiveness, and 3) Teacher Loan Forgiveness. To qualify for Perkins Loan Cancellation and Discharge, a borrower must have been employed in a public service job for a qualifying period of time. To qualify for Public Service Loan Forgiveness, a borrower must make 120 qualifying monthly payments while working full-time for a qualifying employer. To qualify for Teacher Loan Forgiveness, a borrower must have taught full-time for five complete and consecutive academic years in a low-income elementary or secondary school, or educational service agency.

Question Answer
Do they offer loan forgiveness? Yes
Do they offer loan consolidation? Yes

How to Apply

You can apply for a loan online, over the phone, or in person. You can also apply for a loan using a mobile app. If you have a cosigner, you may be able to apply for a loan with them.

Question Answer
Can I apply for a loan online? Yes
Can I apply for a loan over a phone call? Yes
Can I apply for a loan in person? Yes
Can I apply for a loan using a mobile app? Yes
Can I apply for a loan with a cosigner? Yes

IdentityIQ Report Example

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

CITY NAT BK 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 CITY NAT BK 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.