5 min read

Mar 18, 2021

March 18, 2021

What Is JPMCB Card Services and Why Is It on My Credit Report?

We break down what 'JPMCB' stands for, why it's on your credit report, and explain the difference between hard and soft inquiries.

The acronym JPMCB stands for J.P. Morgan Chase Bank. When J.P. Morgan & Co. merged with Chase Manhattan Corporation, they began using the name J.P. Morgan Chase Bank, abbreviated to JPMCB. 

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Chase, a financial institution based in the United States that operates globally, provides financial products such as credit cards, loans, and mortgages

If you have applied for a credit card through Chase, you may see ‘JPMCB’ on your credit report, because they’ve conducted a hard pull on your credit to determine if you can be approved for the card. 

J.P. Morgan Chase Bank issues a number of credit cards across categories, including airlines, dining, cashback, and hotels. So, even if the card you’ve applied for doesn’t have Chase in its title, like the Chase Sapphire Reserve, it could still be a card issued by the bank. 

For instance, the Amazon Prime Rewards Visa Signature card, British Airways Visa Signature airline card, and Disney Rewards Visa card are just some of the cards linked with J.P. Morgan Chase. 

What is a Hard Inquiry and Does It Impact Your Credit Score?

When you apply for a new credit line, banks perform a hard inquiry on your credit. So, if you applied for a credit account associated with J.P. Morgan Chase Bank, your credit will be checked as part of the application evaluation process.

Hard inquiries can have a negative impact on your credit score, and they can show up on your credit reports for up to 2 years. Each new hard inquiry can lower your credit score by up to five points, too. Multiple hard inquiries also look bad to credit issuers, who can make it challenging to obtain a new credit card at a competitive interest rate in the near future. 

In fact, J.P. Morgan Chase Bank is notorious for their 5/24 rule, which states that the bank won’t approve you for a new card if you’ve already opened five accounts in the past 24 months. That number of hard inquiries would certainly have an adverse effect on your credit score for 2 full years.

Of course, if you have a hard inquiry associated with JPMCB on your reports and haven’t applied for a new credit line, it could be a case of identity theft and you should take action immediately. 

First, ask the company that performed the check for proof of your application. Have them freeze the card if you genuinely have not made an application — and alert other major credit bureaus where you do bank about potential fraudulent activity with those accounts if you do suspect identity theft. Finally, report the suspicious activity to the Federal Trade Commission and consider filing a police report if you find more evidence of fraudulent activity in other accounts. 

Does a Soft Inquiry Impact Your Credit Score?

You could also see ‘JPMCB’ appear on your credit report due to a soft inquiry. You don’t need to apply for a credit card or loan to undergo a soft inquiry. These are typically initiated by a company that wants you to apply for their product, so an advertisement from J.P. Morgan Chase Bank letting you know that you’re pre-approved for one of their products would first require a soft inquiry.

While these companies typically conduct a general overview of your credit history before sending you these offers, this soft inquiry will appear on your credit report — but it will not have an impact on your credit score

Note that both hard and soft inquiries only appear on your credit report for credit-related financial products, so you shouldn’t see ‘JPMCB’ on your report when applying for a debit card through the bank. 

What is an Authorized User?

If you don’t have a JPMCB credit card account but find ‘JPMCB’ on your report, there’s a possibility that a parent, spouse, child, or business partner may have applied for a new account with J.P. Morgan Chase Bank and added you to their list of authorized users for that card.

As an authorized user, your credit score could actually improve if the main cardholder is financially responsible and builds a strong payment history on their credit card bill. You can even influence and help this person to maintain a reliable credit history since their actions can reflect on your credit score  — and in your report, too!

Ultimately, it pays to carefully read your credit report and thoroughly understand how any changes can affect your credit score. While it can be intimidating to see a new acronym appear out of nowhere, understanding what it means is the key to effectively taking action and maintaining the best credit you possibly can.

Recommended Reading

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Keertana Anandraj
Keertana Anandraj is a recent college grad living in San Francisco. When she isn’t conducting international macroeconomic research at her day job, you can find her in the spin room or planning her next adventure.

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