What does AM CREDIT mean on my credit report?

Is AM CREDIT making an impact on your credit score?

Updated January 1, 2023
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What is AM CREDIT?

AM CREDIT is shorthand for American Credit Inc, with the company name being American Credit®, Inc

AM 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 American Credit Inc.

  • ⚫ 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 $200.

  • ⚫ The average high credit balance is $9100.

  • ⚫ The typical loan duration is 16 months.

  • ⚫ The average monthly repayment is $200.

The account is classified under the following METRO2 categories:

  • ⚫ Auto Loan

How do I contact them?

Here is the current contact details for American Credit Inc:

Address:

  • 2100 Geng Road, Suite 210
    Palo Alto, CA 94303

Website:

Email:

Phone:

Payments

American Credit offers a variety of loan types and terms, with no prepayment penalty fees. To make a payment, you can contact their sales team at 855-904-0188 or their service team at 650-885-8055, or apply online through their website. There is no cost to apply, and no hidden fees.

Question Answer
Do they offer a monthly payment plan? 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? No
Can I make a payment using a prepaid debit card? Yes
Can I make a payment using a wire transfer? Yes

Forgiveness and Cancellation

American Credit offers multiple types of business loans with various terms and no prepayment penalty fees. They may require a personal guarantee and require applicants to provide bank account information. It is not clear if they offer loan consolidation.

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

How to Apply

You can apply for a loan with American Credit by either calling 855-904-0188 or 650-885-8055, or by filling out an online application. American Credit offers various types of loans with flexible terms, and they do not require a personal guarantee. Applying for a loan is simple and fast, and American Credit does not charge any fees for applying. For more information, customers can contact American Credit by phone or by email.

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.

AM 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 AM 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.