cancel
Showing results for 
Search instead for 
Did you mean: 

Consumer finance account

New Contributor

Consumer finance account

Looking at my mortgage scores, I see "You have a consumer finance account on your credit report." checked on one of my CRAs. I'm trying to determine which loan this is referencing, so I can work to pay it off and close the account. I have my motorcycle financed through NFCU as a consumer loan and also have a MidCountry Bank unsecured loan.


Do either of those sound like they fit the bill? Or would it more than likely be a closed account triggering this?



Starting Score: 613EQ - 642TU - 613EX (01/13/2018)
Score Change:__39______4______36
Current Score:_652EQ - 638TU - 649EX (02/04/2018)
_______________ Goal Score: 700
__Take the myFICO Fitness Challenge
Message 1 of 7
6 REPLIES
Valued Contributor

Re: Consumer finance account

 


@teamXDRwrote:

Looking at my mortgage scores, I see "You have a consumer finance account on your credit report." checked on one of my CRAs. I'm trying to determine which loan this is referencing, so I can work to pay it off and close the account. I have my motorcycle financed through NFCU as a consumer loan and also have a MidCountry Bank unsecured loan.


Do either of those sound like they fit the bill? Or would it more than likely be a closed account triggering this?


I'm almost positive it is the MidCountry Bank unsecured loan.



EX 780, TU 778, EQ 787
|| NFCU CashRewards $16.5K || Discover IT $7.5K || NFCU Platinum $7.5K || Macy's $7.5K || CitiCostco $5.5K || Chase $5K || CitiDC $4.8K ||
Message 2 of 7
Senior Contributor

Re: Consumer finance account

From https://www.midcountrybank.com/affiliates.aspx:

 

"A consumer finance company, Heights Finance Corporation, serves small communities throughout Illinois, Indiana, Kentucky, Missouri, Tennessee and Wisconsin."

 

Did you ever get a loan through Heights Finance that reports as Midcountry?

Message 3 of 7
Community Leader
Super Contributor

Re: Consumer finance account

Question for our OP.  Can you clarify for us which FICO scoring model is it that is giving you the negative reason statement about the CFA?  Is it FICO 8 Classic?  A mortgage score?  Something else?

Message 4 of 7
New Contributor

Re: Consumer finance account

Mortgage score on the 3B. Only one CRA has this checked, but all loans are reported by all CRAs.



Starting Score: 613EQ - 642TU - 613EX (01/13/2018)
Score Change:__39______4______36
Current Score:_652EQ - 638TU - 649EX (02/04/2018)
_______________ Goal Score: 700
__Take the myFICO Fitness Challenge
Message 5 of 7
Highlighted
New Contributor

Re: Consumer finance account


@ABCD2199wrote:

From https://www.midcountrybank.com/affiliates.aspx:

 

"A consumer finance company, Heights Finance Corporation, serves small communities throughout Illinois, Indiana, Kentucky, Missouri, Tennessee and Wisconsin."

 

Did you ever get a loan through Heights Finance that reports as Midcountry?


It was through Pioneer Services, which I do not see a similar statement for them on that link.



Starting Score: 613EQ - 642TU - 613EX (01/13/2018)
Score Change:__39______4______36
Current Score:_652EQ - 638TU - 649EX (02/04/2018)
_______________ Goal Score: 700
__Take the myFICO Fitness Challenge
Message 6 of 7
Frequent Contributor

Re: Consumer finance account

This is the Ding that really makes me angry! I have an Auto Loan obtained thru our Cadillac Dealership. GM (you know the folks in Detroit) offered Zero Percent Car Loans. The Credit Bureaus are calling this a Finance Company = Risky Borrowers! I have to wonder why I would get a car loan from a bank or CU and pay interest, if someone was crazy enough to give me money at no interest! 😉 Good thing my middle score is 825!
Message 7 of 7