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I just was noticing something from my last Amex denial letter they mentioned to many consumer finance accounts. I had a paid in full auto loan with Ally financial they seem to frown on them any loan with financial in the end of the lenders title example GM Financial P2P loans Lending club, Prosper ect. Has anyone else noticed this with them?
How many total CFAs do you have and how many are closed vs open? How many CFAs do you have relative to your total number of accounts?
@Anonymous wrote:How many total CFAs do you have and how many are closed vs open? How many CFAs do you have relative to your total number of accounts?
1 closed paid in full.
@bigpoppa09 wrote:I just was noticing something from my last Amex denial letter they mentioned to many consumer finance accounts. I had a paid in full auto loan with Ally financial they seem to frown on them any loan with financial in the end of the lenders title example GM Financial P2P loans Lending club, Prosper ect. Has anyone else noticed this with them?
Strange. I have three closed consumer finance loans on my credit reports. Maybe that's why I've gotten such low limits out of the gate ($500 and $1,900) with Amex.
Are you sure it wasn't a FICO reason code why your score wasn't higher? FICO is known to penalize people for consumer financial accounts.
@CreditDunce wrote:Are you sure it wasn't a FICO reason code why your score wasn't higher? FICO is known to penalize people for consumer financial accounts.
I was thinking the same thing.