VISDSNB is listed on my credit report - What should I do?
VISDSNB is related to Macy's credit card, which was previously associated with Federated Department Stores, Inc. VIS is the short form for VISA and DSNB is the short form for Departmental Store National Bank. Thus, VISDSNB stands for Visa Departmental Store National Bank.
If you have applied for a credit card with Visa Departmental Store National Bank, you'll find a VISDSNB listing on your credit report. These department store card issuers offer reward programs where customers can gain points on purchases. These points can then be exchanged for rewards. However, to qualify for best rewards, you will have to spend thousands of dollars at these stores.
Like most Visa and Mastercard store cards, these cards can be used at other retailers.
What to do if VISDSNB shows up on your credit report
If you did not apply for a VISDSNB credit card and it is listed on your credit report, you can dispute the item. There are two ways you can do this.
- Validate and dispute with credit bureaus - First, send a debt validation letter to VISDSNB via fax or certified mail. If they fail to validate the debt, you can send dispute letters to the bureaus and have them investigate further.
- Dispute with VISDSNB - You can directly dispute the incorrect listing on your credit report by calling VSDSNB at 1-800-668-7196. However, if it's Macy's credit card, you can call 1-800-830-3087 or 1-866-593-2543 to request that they close down the account.
Other than Macy's, VISDSNB issues cards through other department stores like Bloomingdale's and Strawbridge's.
If you have an account with Visa Departmental Store National Bank and the account has been handed over to collections, you can do the following:
- Know your rights: It is very important to know your rights as a debtor. Check out the rules on debt collections outlined by Fair Debt Collections Practices Act (FDCPA). If the collection agency violates any of the rules, you can file a complaint with the Federal trade Commission (FTC) , and your State's Attorney General.
- Validate the debt: If you are not sure whether you owe money to the creditor you should ask them to validate the debt. Even if you know that you incurred the debt, you can ask for debt validation if you are confused about the outstanding debt amount. Send the debt validation letter via fax or certified mail.
- Get a written agreement: Once the debt is validated, get the payment agreement in writing. Also, keep the payment receipts as proof of your payments.
- Request a Pay For Delete: Once you make a payment agreement, negotiate a "Pay for delete" agreement (PFD) with the collector. If the collector agrees to a PFD, the negative listing will be removed from your credit report once the debt has been repaid. Send the PFD letter via fax or certified mail.