Welcome to Concora Credit
We are thrilled to share that Concora Credit, an industry leader in helping customers access credit, has acquired the right to service your Great American Finance Company's (GAFCo) account on behalf of First Electronic Bank. While your service provider has changed, our primary focus remains: helping you Do More with credit.
Here are a few key points to note:
1. Continuity of Service: Your accounts will continue uninterrupted. You can still access your account through the same channels, and there will be no changes to your account numbers or login credentials until the day your account is issued by First Electronic Bank and serviced by Concora Credit.
2. Communication Channels: We will inform you about any changes or updates from this acquisition through various communication channels, including mail, email, our website, and other official channels.
3. Customer Support: Our customer support teams are available to address any questions or concerns you may have. Feel free to reach out to 800-229-0364 any time after February 1st for support.
We understand that changes like these may raise questions and we are committed to providing you with the information and support you need during this transition. Below you will find answers to commonly asked questions, but if your question is not listed, please reach out and we will be happy to provide you with an answer.
Thank you for being a valued customer. We look forward to helping you DO MORE with Concora Credit.
I received an email saying there was a delay. Is this true?
Yes, we’ve unexpectedly run into a delay in moving your information. Your account information remains secure, and we expect you will be able to access your account on Monday, Feb 5, 2024.
When did this acquisition happen?
Effective February 1, 2024, your account will be owned by First Electronic Bank (“Bank”) and serviced by Concora Credit on behalf of the Bank.
What happens if I accidentally make a payment to my old account?
Payments made to GAFCo will be posted to your account with an effective date of the date the payment was made. It may be delayed in processing. Payments should be made at www.ConcoraCredit.com or by calling 800-229-0364 after February 1.
When and how will the new company communicate with me about these changes?
You may receive mail, email, texts or telephone calls regarding the changes.
Will my username and password change on the new website?
Yes. You will need to re-register your account on www.ConcoraCredit.com when your account transfers to Concora Credit for servicing.
Will I be able to make purchases on my account during this change of ownership?
Yes, if your account is open and in good standing.
Will First Electronic Bank report my account to the consumer reporting agencies and will it impact my credit score?
The former owner of your account will report your account and any outstanding balance to the consumer reporting agencies as sold/transferred to another creditor. First Electronic Bank will then begin to report your account as of the date they acquired it.
Credit score are complex formulas developed by creditors, consumer reporting agencies and other companies. The companies determining those formulas are responsible for determining credit scores. However, a consistent history of on-time payments is often a key component of a good credit score.
Will First Electronic Bank change any terms or other pricing, such as the Annual Percentage Rate (APR)?
You will receive or may have already received a notice indicating your lender and servicer have changed. The notice may include other changes that will impact your account. Once you receive the notice, please call Concora Credit at 800–229–0364 if you have any questions about the changes.
Will I have a new payment due date?
For some customers, the payment due date may change. If it does, the change will be included in your notice of change in terms and will be reflected on your monthly billing statements.
How will I be able to make a payment?
Concora Credit accepts payments online at www.ConcoraCredit.com, through our mobile app, by phone, and by mail. For the fastest service, we recommend using online or mobile.
Will the credit line on my account change?
No. If your account is open and not expired or closed, your credit line will remain the same.
Why did GAFCo cancel my autopay?
GAFCo was required to cancel your autopay when they stopped servicing your account.
Can I set up a new autopay?
Yes! The new servicer, Concora Credit, supports autopay services. You may re-enroll by visiting www.ConcoraCredit.com.
Why did you cancel my future-dated payments?
When the servicer of your account changes, you need to re-enroll in the new servicers payment system and agree to their terms.
Can I set up new future-dated payments?
Yes! Visit www.ConcoraCredit.com or download our mobile app to set up future-dated payments.
My account is charged off. Who should I contact?
You will need to contact GAFCo.
Didn't find the answer to your question?
Give us a call at 800-229-0364.