What does LANCASTER RED ROSE CU mean on my credit report?
Learn about LANCASTER RED ROSE CU, an credit union offering loans for financial assistance. Check the impact to your credit report and financial status.
What is LANCASTER RED ROSE CU?
LANCASTER RED ROSE CU is shorthand for Lancaster Red Rose Credit Union , with the company name being Lancaster Red Rose Credit Union Inc
LANCASTER RED ROSE CU is a Credit Union provider. They could be on your report for a number of reasons, for example:
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⚫ You missed a repayment.
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⚫ You opened an account with Lancaster Red Rose Credit Union .
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⚫ You opened a credit card / loan / mortgage with this company.
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⚫ Someone fraudulently opened a credit line under your name.
About the account
The account is classified under the following METRO2 categories:
- ⚫ Unsecured
How do I contact them?
Here is the current contact details for Lancaster Red Rose Credit Union :
Address:
- 2137 Embassy Dr STE 101, Lancaster, PA 17603, United States
Website:
Email:
Phone:
Payments
Lancaster Red Rose Credit Union offers digital banking services and online banking and bill pay services through their website. Additionally, they offer mobile banking with mobile deposit. Payments can be made online, through the mobile app, or with a prepaid debit card. Wire transfers are also an option for payment. There are typically no penalties for late or missed payments.
| Question | Answer |
|---|---|
| Do they offer a monthly payment plan? | No |
| Can I make payments over the phone? | No |
| 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
SoFi does not offer loan forgiveness or consolidation. Loan forgiveness qualifications vary depending on the financial institution and the type of loan. Generally, you must meet certain requirements, such as being current on your loan payments and having made them for a number of years, to qualify for loan forgiveness.
| Question | Answer |
|---|---|
| Do they offer loan forgiveness? | No |
| Do they offer loan consolidation? | No |
How to Apply
You can apply for a loan online at Lancaster Red Rose Credit Union. They offer up to $2500 for 12 months at a special holiday rate with NICE RATES, FREE ATMS, and insurance from TruStage®. You can also apply for a loan using a mobile app. LRRCU offers a holiday loan of up to $2500 with a special holiday rate, as well as other loans with competitive rates. LRRCU also offers a variety of loan types including a Home Equity Line of Credit (HELOC) which may be applied for 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? | No |
| 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 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 LANCASTER RED ROSE 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.