What does NET CREDIT mean on my credit report?

Is NET CREDIT making an impact credit score?

Updated May 1, 2022

What is NET CREDIT?

NET CREDIT is shorthand for NetCredit, with the company name being NetCredit LLC

In partnership with Republic Bank & Trust Company, we can provide you with personal loans and financing for items such as furniture, equipment, vehicles, business opportunities, real estate and other related expenses. Your application may be reviewed and processed by Netcredit who will handle accounts directly with our bank partners.

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

  • ⚫ You missed a repayment.

  • ⚫ You opened an account with NetCredit.

  • ⚫ 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:

  • ⚫ Collection Agency/Attorney
  • ⚫ Unsecured

More account infomation

  • ⚫ The average account balance is $1200.

  • ⚫ The average high credit balance is $4200.

  • ⚫ The average monthly repayment is $100.

How do I contact them?

Here is the current contact details for NetCredit:

Address:

  • P.O. Box 206766 Dallas, TX 75320-6766

Website:

Email:

Phone:

  • (877) 392-2015

IdentityIQ Report Example

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

NET 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 NET CREDIT 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.