What does CAPGOODFUND mean on my credit report?

Is CAPGOODFUND making an impact on your credit score?

Updated January 1, 2023
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What is CAPGOODFUND?

CAPGOODFUND is shorthand for Capital Good Fund, with the company name being Capital Good Fund Inc

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CAPGOODFUND 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 Capital Good Fund.

  • ⚫ 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 $400.

  • ⚫ The average high credit balance is $1300.

  • ⚫ The typical loan duration is 18 months.

  • ⚫ The average monthly repayment is $100.

The account is classified under the following METRO2 categories:

  • ⚫ Unsecured
  • ⚫ Collection Agency/Attorney

How do I contact them?

Here is the current contact details for Capital Good Fund:

Address:

  • 333 Smith Street, Providence, RI 02908

Website:

Email:

Phone:

Payments

There are many ways to make a payment, including online, over the phone, and using a mobile app. You can also use a prepaid debit card, wire transfer, or check/money order. There is usually a discount for automatic payments, and there may be 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? No
Can I make a payment using a prepaid debit card? No
Can I make a payment using a wire transfer? No

Forgiveness and Cancellation

Capital Good Fund does not offer loan forgiveness or consolidation. To apply for a loan, you must have a bank account or approved pre-paid card and reside in Rhode Island, Florida, Massachusetts, Delaware, Illinois, Texas, or Colorado. Proof of income is also required, and you will need to provide two months' bank or pre-paid card statements, proof of purpose of loan, a copy of government-issued ID, and a voided check or pre-paid card with ACH features.

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

How to Apply

You can apply for a loan online, over the phone, or in person. You may also be able to apply for a loan using a mobile app. In some cases, you may need 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.

CAPGOODFUND 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 CAPGOODFUND 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.