If you’ve come across Elan Financial Services on your credit report and don’t recognize it, don’t worry—you’re not alone. Many people see unfamiliar names on their credit reports because banks and credit unions often partner with third-party companies to issue credit cards.
Elan Financial Services is one such company. While you can’t apply for a credit card directly from Elan, it works behind the scenes with financial institutions to provide credit card services. If you’ve applied for a credit card through a bank or credit union that partners with Elan, that’s likely why it’s appearing on your report.
Reasons Elan Financial Services Might Be on Your Credit Report
There are several possible explanations for why Elan Financial Services is listed on your credit report:
1. Hard or Soft Inquiries
- Hard Inquiry: If you applied for a credit card from your bank or credit union, Elan Financial Services might have performed a hard credit pull. Hard inquiries occur when lenders check your credit as part of the approval process, and they can slightly impact your credit score. These inquiries remain on your credit report for up to two years.
- Soft Inquiry: If you checked to see if you prequalified for a credit card issued by Elan Financial Services, you may see a soft inquiry. Soft inquiries don’t impact your credit score.
- Unauthorized Hard Inquiry: If you didn’t apply for a credit card and see an unauthorized hard inquiry, it could be a sign of identity theft. Learn how to dispute an unauthorized hard inquiry here.
2. Being an Authorized User
If someone added you as an authorized user on an Elan-issued credit card, the account might show up on your credit report. While being an authorized user can help build your credit, if you didn’t agree to it, you can contact the card issuer to be removed. Learn more about authorized users and credit impact.
3. Active or Closed Accounts
- If you have a credit card issued by a bank or credit union partnered with Elan Financial Services, the account may appear under Elan’s name on your credit report.
- If your bank transferred your credit card account to Elan, you may see a change in the creditor listed on your report.
- If you don’t recognize the account and suspect fraud, read about what to do if your identity is stolen.
Credit Cards Issued by Elan Financial Services
Elan Financial Services partners with more than 1,400 banks and credit unions to issue credit cards. Some of these financial institutions include:
- Fidelity (Fidelity® Rewards Visa Signature® Card)
- Envision Bank
- First Financial Northwest Bank
- Chevron Federal Credit Union
- MIT Federal Credit Union
To confirm if your card is issued by Elan, check your card’s terms and conditions for a statement like: “The creditor and issuer of these Cards is Elan Financial Services.”
What to Do If You Don’t Recognize an Account on Your Credit Report
If you’ve confirmed that your account isn’t linked to Elan Financial Services through your bank or credit union, and you still don’t recognize an account or inquiry, follow these steps:
- Check your full credit report at AnnualCreditReport.com to ensure all information is accurate.
- Dispute unauthorized inquiries or accounts by contacting the credit bureaus: Equifax, Experian, and TransUnion.
- Place a fraud alert or credit freeze on your account if you suspect identity theft. Read how here.
- Report identity theft to the Federal Trade Commission.
Additional Resources
- National Consumer Law Center – Consumer Credit Resources
- Better Business Bureau (BBB) Scam Tracker
- MyFICO Credit Monitoring
- Credit Karma – Free Credit Scores & Reports
- Experian Boost™ – Free Credit Boosting Tool
Stay on Top of Your Credit
Regularly monitoring your credit is key to catching errors early. You can check your credit reports for free through AnnualCreditReport.com and monitor your credit with services like Equifax and TransUnion.
By understanding why Elan Financial Services appears on your credit report, you can take control of your financial health and ensure all information is accurate.
