What does OKLA CENTRAL mean on my credit report?

Learn about OKLA CENTRAL, an credit union offering loans for financial assistance. Check the impact to your credit report and financial status.

Updated January 1, 2023
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What is OKLA CENTRAL?

OKLA CENTRAL is shorthand for Oklahoma Central Credit Union, with the company name being Oklahoma Central Credit Union Inc

OKLA CENTRAL 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 Oklahoma Central 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 $4400.

  • ⚫ The average high credit balance is $21200.

  • ⚫ The typical loan duration is 58 months.

  • ⚫ The average monthly repayment is $200.

The account is classified under the following METRO2 categories:

  • ⚫ Unsecured
  • ⚫ Secured

How do I contact them?

Here is the current contact details for Oklahoma Central Credit Union:

Address:

  • 11335 East 41st Street Tulsa, OK 74146

Website:

Phone:

Payments

Payments can be made electronically or by sending a check, money order or cashier’s check. Electronic payments can be made online, through telephone payment systems, or through automatic withdrawal from a bank account. To send a check, money order or cashier’s check, mail the payment to the address provided on the bill or invoice.Many banks and other financial institutions offer mobile apps that allow users to quickly and securely make payments directly from their bank accounts. This is a convenient way to pay bills and transfer money without having to visit a branch or ATM.Payments can also be made via check or money order. Additionally, various credit cards, prepaid cards, and PayPal are accepted payment options.Missing or late payments can result in financial penalties. Depending on the type of loan or agreement, these can include additional fees or interest, damage to your credit score, or a combination of both.

Question Answer
Do they offer a monthly payment plan? 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 and consolidation are both options offered by the website. To qualify for loan forgiveness, the individual must make 120 qualifying payments.

Question Answer
Do they offer loan consolidation? Yes

How to Apply

All loan applications must be completed in person with a loan officer. During the application process, the loan officer will collect information to assess the risk of the loan and determine whether or not you are eligible. If you are approved for the loan, the loan officer will disburse the funds.

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.

OKLA CENTRAL 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 OKLA CENTRAL 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.