What does BRIGHTSTAR CREDIT UNIO mean on my credit report?

Is BRIGHTSTAR CREDIT UNIO making an impact on your credit score?

Updated January 1, 2023

What is BRIGHTSTAR CREDIT UNIO?

BRIGHTSTAR CREDIT UNIO is shorthand for BrightStar Credit Union, with the company name being BrightStar Credit Union Inc

BRIGHTSTAR CREDIT UNIO is a Credit Union provider. They could be on your report for a number of reasons, for example:

  • ⚫ You missed a repayment.

  • ⚫ You opened an account with BrightStar Credit Union.

  • ⚫ You opened a credit card / loan / mortgage with this company.

  • ⚫ Someone fraudulently opened a credit line under your name.

About the account

  • ⚫ The average account balance is $6700.

  • ⚫ The average high credit balance is $10700.

  • ⚫ The average credit limit is $1500.

  • ⚫ The average monthly repayment is $300.

The account is classified under the following METRO2 categories:

  • ⚫ Auto Loan
  • ⚫ Credit Card

How do I contact them?

Here is the current contact details for BrightStar Credit Union:

Address:

  • PO Box 8966, Ft. Lauderdale, FL 33310-8966

Website:

Email:

Phone:

Payments

BrightStar Pay is a mobile payment application that allows users to make payments. Users can download the app, agree to the End User License Agreement Terms, and then use the app to make payments. Other payment options, such as using a check or money order, are available. Additionally, you are responsible for any costs or expenses associated with using the Software.

Question Answer
Do they offer a monthly payment plan? No
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 through BrightStar Pay. They also do not offer loan consolidation. However, to qualify for loan forgiveness you must agree to the BrightStar Pay End User License Agreement Terms, which includes compliance to all applicable laws, rules and regulations and any associated costs and expenses for receiving notifications.

Question Answer
Do they offer loan forgiveness? No
Do they offer loan consolidation? No

How to Apply

You can apply for a loan online, in person, or using a mobile app. A cosigner is allowed as long as you agree to the terms and conditions as set by BrightStar Pay and your financial services provider.

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.

BRIGHTSTAR CREDIT UNIO 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 Credit Union

A credit union is similar to a bank, however it is owned collectively by the members and does not operate on a for-profit basis. Many credit unions are able to provision credit and issue credit cards, which may report on your credit report. Due to the none-profit nature of credit unions they are generally more trusted by the public, as they are less likely to act in a malicious fashion. However, credit unions can still make mistakes with reporting on your credit report therefore being aware of what is being reported, and take action against any unfair reporting.

How do I remove BRIGHTSTAR CREDIT UNIO 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.