What does AMERCYCLEFIN mean on my credit report?

Is AMERCYCLEFIN making an impact on your credit score?

Updated January 1, 2023
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What is AMERCYCLEFIN?

AMERCYCLEFIN is shorthand for American Cycle Finance, with the company name being American Cycle Finance

ACF informs about all payments, which are made to a big credit-bureau assisting many passengers improving their credit score.

AMERCYCLEFIN 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 Cycle Finance.

  • ⚫ 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 $5100.

  • ⚫ The average high credit balance is $9200.

  • ⚫ The typical loan duration is 50 months.

  • ⚫ The average monthly repayment is $300.

The account is classified under the following METRO2 categories:

  • ⚫ Auto Loan

How do I contact them?

Here is the current contact details for American Cycle Finance:

Address:

  • 80 Northboro Road East, Marlborough, Massachusetts 01752

Website:

Email:

Phone:

Payments

There are several ways to make a payment, including online, over the phone, or through a mobile app. If you are having trouble making a payment due to Covid-19, you can call an Account Representative for assistance. Be on alert for fraud.

Question Answer
Do they offer a monthly payment plan? No
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

Customers of American Cycle Finance can receive loan forgiveness or develop an action plan with an Account Representative if they are impacted by Covid-19. There is also the option to make payments 24/7 online, over the phone, or through the automated phone system. Be alert for fraud attempts.

Question Answer
Do they offer loan forgiveness? Yes
Do they offer loan consolidation? Yes

How to Apply

AcycleFinance offers loans that can be applied for online, over the phone, or in person. You can make payments 24/7 through the online customer portal, or call (877) 369-1087 Option 2 to make a payment over the phone with the assistance of an Account Representative. If you are having trouble making payments due to the impact of COVID-19, you can call (877) 369-1087 Option 2 to discuss your circumstances and develop an action plan to help.

Question Answer
Can I apply for a loan online? Yes
Can I apply for a loan over a phone call? Yes
Can I apply for a loan in person? Yes
Can I apply for a loan using a mobile app? Yes

IdentityIQ Report Example

  • This is an example of what this creditor will look like on your IdentityIQ report.

AMERCYCLEFIN 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 AMERCYCLEFIN 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.