Is there anything scarier than seeing an unfamiliar company name listed on your credit report? Were you puzzled when you saw JPMCB card services on your report?
Let’s look at the company behind the initials JPMCB, and you’ll better understand why it’s a common entry on credit reports.
JPMCB stands for JPMorgan Chase Bank. Chase is based in the United States but is one of the largest financial institutions in the world, with investments and financial services spread across the globe.
It also became one of the banks with the longest names when J. P. Morgan & Co. merged with Chase Manhattan Corporation. The credit card branch of the banking giant uses the name JPMorgan Chase Bank—abbreviated JPMCB.
When you apply for a credit card from Chase, it will trigger a hard or soft inquiry on your credit report and the bank will appear as "JPMCB card services". On any related financial documents, you might also want to look for JPMorgan Chase & Co.
If you prefer to have various credit cards dedicated exclusively to specific activities in your life, there’s a good chance that you applied for a card by JPMCB. The bank issues quite a number of lifestyle-specific cards. The categories are as follows:
If you’re still not sure that you have one or more Chase accounts, it could be because you’re being fooled by the name of the card. Only a small number of the cards from JPMorgan Chase have the word “Chase” as part of the name of the card. To accurately identify a card from Chase, you’ll need to be aware of all the cards the bank issues.
Below is the latest list—at the time of writing this article—of Chase credit cards:
Have you applied for a credit card listed above? If so, your application would have triggered a hard inquiry, which would appear on your credit report.
A hard credit inquiry is also called a hard pull or a hard credit check. Hard inquiries can have a negative effect on your credit score.
A hard inquiry indicates that you gave Chase approval to investigate your credit history. The application for a new account that you submitted serves as the bank’s authorization as is written in the application disclaimer.
Keep in mind that you may have applied for the card so long ago that you’ve forgotten about it. After all, a hard credit inquiry can remain for around two years on your report.
Perhaps you never completed an application for any of the cards by Chase, and yet JPMCB is listed on your credit report. Now what?
Ask yourself if you remember receiving a pre-approval offer for a Chase card. Credit card issuers and other lenders routinely send out enticing advertisements announcing that you have been pre-approved to become the latest owner of one of their outstanding cards.
Before companies send those offers, they conduct a general overview of your credit history, which is considered a soft inquiry. Soft inquiries also appear on credit reports.
The key difference between soft and hard inquiries is that you don’t need to apply for a credit card (or loan) to be hit with a soft inquiry. They are typically initiated by the company that wants you to apply for their product. Both hard and soft inquiries only show up for credit-related financial products so you should never see JPMCB on your credit report when applying for a Chase debit card for example.
Okay, so you neither remember filing an application for a card by Chase or receiving a pre-approval letter, and yet JPMCB is on your credit report. Is there any other possible explanation? Yes, there are at least three other situations where this could occur.
One, you’re an authorized user of someone else’s credit card. Two, there’s been a clerical error. Three, you’re the victim of identity theft.
You may not have a card by Chase, but does someone close to you like your spouse, parent, child, or business partner have a JPMCB credit card? If so, they may have added you to their list of authorized users for that card.
Now that you’re an authorized user, your credit report will include an account of the use of that card. Not meaning just your use of the card, but any activity.
Being an authorized user has its perks. If the primary cardholder is a financially responsible person, his/her excellent track record of promptly paying their credit card bill will help improve your credit score. Also, you’re in no way obligated to make any payments on that card.
Sometimes simple clerical errors happen. If you’re certain that you have no connection to a JPMCB card, you should contact the credit bureau whose free credit report includes the listing. Each of the big three bureaus, Experian, Equifax, and TransUnion, maintain websites that include instructions on how to file a dispute.
If a bureau has proof that someone using your name applied for a credit card, you’re probably dealing with a case of identity theft. Ask the bureau to place a free fraud alert on your credit report.
You can also have the bureaus freeze your credit, which means that the bureaus will not conduct any new hard inquiries. Once thieves steal an identity, they often quickly apply for more than one credit card. A freeze could limit their damage and stop them from harming your credit any further with additional negative items on your credit report.
Next, you should report the identity theft to the Federal Trade Commission (FTC). The FTC will walk you through the steps to file an identity theft report at its website.
You may also consider using a credit monitoring service to alert you in the future whenever there’s any suspicious activity involving your credit.
Now that you know who's behind JPMCB card services, do you understand why it appears on your credit report? We hope that you’re not the victim of identity theft, but merely the holder of a card that Chase issues without the Chase name.
We try to regularly produce articles like this that will give you the financial knowledge you need. For more information on credit and credit reports, check out our comprehensive credit guide.
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Disclaimer: Harvest is not providing financial advice. The content presented does not reflect the view of the Issuing Banks and is presented for general education and informational purposes only. Please consult with a qualified professional for financial advice.