What is FLAGSHIP CRE on your credit report?
FLAGSHIP CRE stands for Flagship Credit Acceptance, a lender that specializes in providing auto loans to individuals with less-than-perfect credit. This company partners with various car dealerships to offer financing options to customers who might not qualify for traditional loans. If you see FLAGSHIP CRE on your credit report, it usually indicates that you’ve applied for an auto loan through Flagship Credit Acceptance.
Why FLAGSHIP CRE Appears on Your Credit Report
When you apply for an auto loan at a dealership, especially if you have a less-than-ideal credit score, the lender may use Flagship Credit Acceptance to review your application. This review process results in a hard inquiry on your credit report, regardless of whether your loan was approved or not. This inquiry is a standard part of the credit application process and reflects that your credit history was checked by Flagship Credit Acceptance.
How FLAGSHIP CRE Hard Inquiries Affect Your Credit Score
When you apply for an auto loan through Flagship Credit Acceptance, a hard inquiry is placed on your credit report. This inquiry can cause a slight dip in your credit score, typically by just a few points. However, if you’ve applied for multiple loans or lines of credit in a short time frame, the cumulative effect of these inquiries can be more substantial. Lenders might interpret multiple inquiries as a sign that you’re actively seeking credit, which could be seen as a risk factor.
In contrast, soft inquiries, such as those made for background checks or when checking your own credit, do not impact your credit score and are not visible to potential lenders.
How Long Hard FLAGSHIP CRE Inquiries Stay on Your Credit Report
A hard inquiry from Flagship Credit Acceptance can remain on your credit report for up to two years. During this time, it is accessible to any lender reviewing your credit. These inquiries are tracked by the three major credit bureaus—Equifax, Experian, and TransUnion. While the impact on your credit score diminishes over time, the inquiry will stay on your report until it is automatically removed after the two-year period.
What to Do About Unauthorized FLAGSHIP CRE Inquiries
If you find an inquiry from FLAGSHIP CRE on your credit report that seems unfamiliar or unauthorized, it’s important to investigate. Start by contacting Flagship Credit Acceptance directly to confirm the inquiry. If it was indeed unauthorized, you can take steps to dispute it and have it removed from your report. For quick reference, here’s the contact information:
Flagship Credit Acceptance
P.O. Box 965
Chadds Ford, PA 19317
Removing FLAGSHIP CRE from Your Credit Report with Professional Help
If you’re struggling with unauthorized inquiries or other negative marks on your credit report, Credit Saint can help. They assist clients in disputing and potentially removing negative items from credit reports, including late payments, collections, charge-offs, foreclosures, repossessions, and bankruptcies.
Get Started with a Free Consultation
To explore your options and learn more about improving your credit situation, consider scheduling a free credit consultation with Credit Saint. Their team of experts can provide personalized advice and guide you through the credit repair process.
Visit their website, fill out the form, and take the first step towards a better credit score.
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