What does TX BAY CU mean on my credit report?
Learn about TX BAY CU, an credit union offering loans for financial assistance. Check the impact to your credit report and financial status.
What is TX BAY CU?
TX BAY CU is shorthand for Texas Bay Credit Union, with the company name being Texas Bay Credit Union Inc
This means that we serve our members. Texas Bay is successful in preserving a secure financial position, increasing membership growth and maintaining high member satisfaction. Texas Bay was founded as Houston Sinclair Refinery Employees Credit Union, and started operations from the Sinclair Refinery Plant. The first meeting of Sinclair Refinery Employees Credit Union was held on June 3, 1936. During the years while Texas Bay Credit Union may have undergone a number of name changes, we still hold our core values that were created back in 1936.
TX BAY 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 Texas Bay 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 $5900.
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⚫ The average high credit balance is $21600.
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⚫ The typical loan duration is 44 months.
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⚫ The average credit limit is $200.
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⚫ The average monthly repayment is $200.
The account is classified under the following METRO2 categories:
- ⚫ Auto Loan
- ⚫ Credit Card
- ⚫ Collection Agency/Attorney
- ⚫ Unsecured
How do I contact them?
Here is the current contact details for Texas Bay Credit Union:
Address:
- 12611 Fuqua Street Houston TX 77034
Website:
Email:
Phone:
Payments
Texas Bay Credit Union offers online payments for their services. Many banks, retailers, and other companies offer mobile apps that allow users to securely make payments directly from their phones or tablets. You can make a payment using a prepaid debit card by accessing Bill Pay and Card Control in Digital Banking. Wire transfers are not available as a payment option. There are 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? | No |
Forgiveness and Cancellation
Sallie Mae does not offer loan consolidation or 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, but not over the phone or in person. You also cannot use a mobile app or apply 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? | No |
| Can I apply for a loan with a cosigner? | No |
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 TX BAY 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.
