Department Store Cards = FICO wants to see one or two
Fused, this may be a stupid question but...what exactly are "Consumer Finance Loans"? Example?
Tessa
I'm not 100% on this , but I think when a companies extend credit directly rather than a bank. they are giving you IOU, vs a car dealership that gets their money from bank and you have a IOU for the bank
When I ordered my computer from Dell, and put it on my Dell account, that would be an example of a Consumer Finance Loan, yes?
Would I be better off canceling that account? I PIF as soon as I got the statement (I had been waiting on an insurance settlement - darn lightning!) and haven't charged anything since.
Although their CL and Util factor into the 30% mix quite nicely, so I'd say the good outweighs the bad. At least my score jumped 20 points by getting a 12,500 HD card.
