What does REDSTONE FCU mean on my credit report?
Learn about REDSTONE FCU, an federal credit union offering loans for financial assistance. Check the impact to your credit report and financial status.
What is REDSTONE FCU?
REDSTONE FCU is shorthand for Redstone Federal Credit Union, with the company name being Redstone Federal Credit Union Inc
Each day, we work together with our members to enable them to transform their dreams into realities. This is more than just a pledge; it’s central to what we are on Redstone Army Base.
REDSTONE FCU is a Federal 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 Redstone Federal 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
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⚫ The average account balance is $400.
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⚫ The average high credit balance is $3800.
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⚫ The average monthly repayment is $100.
The account is classified under the following METRO2 categories:
- ⚫ Auto Loan
- ⚫ Unsecured
- ⚫ Collection Agency/Attorney
- ⚫ Credit Card
- ⚫ Auto
How do I contact them?
Here is the current contact details for Redstone Federal Credit Union:
Address:
- 220 Wynn Drive Huntsville, AL 35893-0001
Website:
Email:
Phone:
Payments
Merchants usually offer many ways to make payments, including cash, check, credit card, or online. Depending on the merchant, you may also be able to use prepaid cards, mobile payments, and payment apps. To make a payment, you will need to provide a form of payment and information about the account or card you are using. In some cases, you may need to provide additional information, such as your billing address or a security code. If you need a refund, you can contact the merchant or the company from which you made the purchase. The refund may be issued in the form of a credit, a check, or an electronic payment. Customers can also reach out to their credit card provider if the merchant does not issue a refund. Some companies have mobile apps that allow customers to make payments from their devices. Generally, penalties are assessed when payments are more than 30 days overdue and can include additional interest or other charges. Wire transfers are a secure, fast and convenient way to transfer money electronically from one bank account to another.
| 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
this company does not offer loan forgiveness. they offer loan consolidation and loan forgiveness is available to those who qualify. Qualifications include having an eligible federal student loan, meeting the program requirements, and enrolling in an eligible repayment plan. Additionally, other qualifications may be required depending on the type of loan forgiveness program being applied for.
| Question | Answer |
|---|---|
| Do they offer loan forgiveness? | No |
| Do they offer loan consolidation? | Yes |
How to Apply
you can apply for a loan online, in person, or using a mobile app. Most financial institutions offer loan applications that can be filled out and submitted via their website or mobile app. Additionally, there are numerous loan providers that are exclusively online. Applying for a loan online often streamlines the application process and allows customers to submit their information and receive a decision quickly. You can also apply for a loan 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? | 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.
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 REDSTONE FCU 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.