What does MIDFIRST BK mean on my credit report?
Learn about MIDFIRST BK, an bank offering loans for financial assistance. Check the impact to your credit report and financial status.
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What is MIDFIRST BK?
MIDFIRST BK is shorthand for MidFirst Bank
, with the company name being MidFirst Bank Inc
“To our customers, we are very thankful to visit your midfirstbank. MidFirstBank occupies a unique position within national financial institutions, with an Index-score of 877, achieving the highest total score among all banks in the country.While our service portfolio competes with large banks, our employees and culture really make the MidFirst difference.”
MIDFIRST 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 MidFirst Bank.
-
⚫ You opened a credit card / loan / mortgage with this company.
-
⚫ Someone fraudulently opened a credit line under your name.
How do I contact them?
Here is the current contact details for MidFirst Bank:
Website:
Payments
payments can be made in several ways, including with a debit or credit card, PayPal, or other online payment service. Customers can also choose to pay in installments over the course of one month, and refunds are available by contacting customer service. Payments can also be made over the phone or online. There may be 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? | No |
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
loan forgiveness is not offered. However, loan consolidation is offered at many financial institutions which could lower monthly payments and the overall interest rate. Loan forgiveness is possible in certain circumstances such as meeting income requirements, being responsible for a certain number of payments, and working in a public service job or in a qualified non-profit organization. To be eligible for loan forgiveness, you must have a qualifying loan, such as a Direct Loan, Federal Family Education Loan (FFEL), or Perkins loan.
Question | Answer |
---|---|
Do they offer loan forgiveness? | No |
Do they offer loan consolidation? | Yes |
How to Apply
You can apply for a loan online, in person, or using a mobile app. Many financial institutions offer online and mobile services that allow you to apply for a loan. You will need to provide personal information and a credit report to apply for a loan. You can also apply for a loan with a cosigner.
Question | Answer |
---|---|
Can I apply for a loan online? | Yes |
Can I apply for a loan over a phone call? | No |
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.
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 MIDFIRST 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.