What does ALLEGRO CREDIT mean on my credit report?

Is ALLEGRO CREDIT making an impact on your credit score?

Updated January 1, 2023
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What is ALLEGRO CREDIT?

ALLEGRO CREDIT is shorthand for Allegro Credit, with the company name being Allegro Credit®

At Allegro Credit, our mission is simply straightforward: retail and customers need a financing partner that they can rely on. Sasha made it very easy for us to navigate the new site and we finished training last week. I cannot tell you how refreshing it is to work with someone who is professional and offers exceptional customer services like Sasha does.

ALLEGRO CREDIT is a Creditor provider. They could be on your report for a number of reasons, for example:

  • ⚫ You missed a repayment.

  • ⚫ You opened an account with Allegro Credit.

  • ⚫ You opened a credit card / loan / mortgage with this company.

  • ⚫ Someone fraudulently opened a credit line under your name.

How do I contact them?

Here is the current contact details for Allegro Credit:

Address:

  • 1350 Old Bayshore Hwy #200, Burlingame, CA 94010, United States

Website:

Email:

Phone:

Payments

To make a payment with Allegro Credit, customers can apply for financing through the web portal at the merchant’s location or at home through the web apply link sent by the merchant. There are no origination fees for merchants and funds are deposited into the merchant’s bank account within two business days. Additionally, Allegro Credit offers a discount for automatic payments.

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? Yes
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

Allegro Credit offers loans to merchants and customers. They may perform a credit check when merchants and customers apply. Loan forgiveness is not offered, but there are no origination fees charged to merchants. Funds for finance agreements are deposited into merchant’s bank account within 2 business days.

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

How to Apply

Customers can apply for financing with Allegro Credit either in person at the merchant’s location or at home through a web apply link sent by the merchant. The customer will need to provide their first & last name, social security number, date of birth, address, and annual income. Allegro Credit may perform a credit check to verify eligibility for financing. Funds for an Allegro Credit finance agreement are deposited into the merchant’s bank account within 2 business days. There are no origination fees. Merchants can apply to become a partner by submitting necessary documents. Credit checks may be performed for both customers and merchants as part of the application process. Funds for an Allegro Credit finance agreement are typically deposited within two business days.

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.

ALLEGRO CREDIT 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.

How do I remove ALLEGRO CREDIT 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.