What does PALMETO ST mean on my credit report?

Learn about PALMETO ST, an federal 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 PALMETO ST?

PALMETO ST is shorthand for Palmetto Citizens Federal Credit Union, with the company name being Palmetto Citizens Federal Credit Union Inc

Almost 50% of all American adults have not made any actual retirement plan. But planning for retirement is crucially important; it depends on your finances as well as your ability to endure loss and the risks you must take to achieve your retirement goals.

PALMETO ST is a Federal 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 Palmetto Citizens Federal 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 account is classified under the following METRO2 categories:

  • ⚫ Unsecured

How do I contact them?

Here is the current contact details for Palmetto Citizens Federal Credit Union:

Address:

  • PO Box 5846, Columbia, SC 29250

Website:

Email:

Phone:

Payments

Payments can be made online, through the mobile app, by telephone, or from any of our office and ATM locations. You can also transfer money between your Palmetto Citizens accounts, your accounts at other financial institutions, and to other PCFCU members. If you need to request a payment refund, you will need to contact the company to which you paid the payment. Many companies have a specific process for requesting a refund, which may involve filling out a form or contacting customer service. Be sure to have your payment information handy when making the request. There are no penalties for late or missed payments. You can make payments using a prepaid debit card. Wire transfers are available for 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

they do not offer loan forgiveness or consolidation. Loan forgiveness may be available for certain federal student loans if the borrower meets criteria such as having a qualifying repayment plan, making on-time payments for a certain period of time, demonstrating a partial financial hardship, and meeting other eligibility requirements as outlined by the Department of Education.

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

How to Apply

You can apply for a loan online, using a mobile app, or 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.

PALMETO ST 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 Federal 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 federal 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. The difference between a credit union and a federal is the fact that federal credit unions are federally insured.

How do I remove PALMETO ST 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.