What does CYPRUS CU mean on my credit report?

Is CYPRUS CU making an impact on your credit score?

Updated January 1, 2023
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What is CYPRUS CU?

CYPRUS CU is shorthand for Cyprus Credit Union, with the company name being Cyprus Credit Union Inc

CYPRUS CU 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 Cyprus 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 $200.

  • ⚫ The average high credit balance is $15000.

  • ⚫ The typical loan duration is 62 months.

  • ⚫ The average credit limit is $200.

  • ⚫ The average monthly repayment is $100.

The account is classified under the following METRO2 categories:

  • ⚫ Auto Loan
  • ⚫ Credit Card
  • ⚫ Unsecured

How do I contact them?

Here is the current contact details for Cyprus Credit Union:

Address:

  • 3578 W. 4700 S. West Valley, UT 84118

Website:

Email:

Phone:

Payments

payments can be made online, in stores, or by mail. Online payments can be made via credit card or other online payment services. Payments in stores can be made with cash, credit, debit, or check. Payments by mail can be made with check or money order.Some companies offer phone payment options that allow you to pay bills and make purchases without visiting a physical store. These services typically require you to provide credit or debit card information that the company then uses to complete the payment.Many businesses offer mobile apps that allow customers to make payments. These apps provide a convenient and secure way to pay bills, transfer funds, and make purchases.Prepaid debit cards allow users to make payments online and in-store, just like a regular debit card. Prepaid debit cards are easy to load and reload with funds, making them a convenient payment option.Wire transfers are a fast and secure method of sending money to individuals or businesses. Depending on thewire transfer service provider, you may be able to send money within minutes. Additionally, you may not need to pay any fees to initiate a wire transfer.

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 at this time. The company offers loan consolidation services to help make managing debt easier and more organized. They provide a variety of solutions that can help save money and lower monthly payments. Loan forgiveness programs are available to certain types of borrowers who meet certain criteria. These criteria may include working in public service or having a certain level of income or debt. There is no single qualification that applies to all loan forgiveness programs.

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

How to Apply

To apply for a loan, you can do it online, over the phone, in person, or using a mobile app. You may also need 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.

CYPRUS CU 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 CYPRUS CU 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.