What does CREDIT CNCPT mean on my credit report?

Is CREDIT CNCPT making an impact on your credit score?

Updated January 1, 2023

What is CREDIT CNCPT?

CREDIT CNCPT is shorthand for Credit Concepts Inc, with the company name being Credit Concepts Inc Inc

Originally founded as a small company from Eugene, OR in 1997, Credit Concepts’growth has been driven by ourcommitment to deliver thebestpossiblecustomerservice in all aspects ofourbusiness.Weprovideourcommunityautomobilefinancingavailablethrough purchase agreementsfrom ourbranchesto qualifiedapplicants.ThemapIDyouhaveentereddoesnotexist

CREDIT CNCPT 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 Credit Concepts Inc.

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

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

About the account

The account is classified under the following METRO2 categories:

  • ⚫ Auto
  • ⚫ Auto Loan

How do I contact them?

Here is the current contact details for Credit Concepts Inc:

Address:

  • 23632 HWY 99 SUITE V EDMONDS, WA 98026

Website:

Email:

Phone:

Payments

You can make a payment online, over the phone, or using a mobile app. There is no monthly payment plan, but there is a discount for automatic payments. You can also make a payment using a check or money order. There are penalties for late or missed payments.

Question Answer
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? Yes

Forgiveness and Cancellation

Credit Concepts does not offer loan forgiveness or loan consolidation.

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

How to Apply

All of the above

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.

CREDIT CNCPT 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 CREDIT CNCPT 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.