Consumer finance account

Anonymous · ‎02-14-2018

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?

CreditInspired · ‎02-14-2018

@Anonymouswrote:
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.

|| AmX Cash Magnet $40.5K || NFCU CashRewards $30K || Discover IT $24.7K || Macys $24.2K || NFCU CLOC $15K || NFCU Platinum $15K || CitiCostco $12.7K || Chase FU $12.7K || Apple Card $7K || BOA CashRewards $6K

Anonymous · ‎02-14-2018

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?

Anonymous · ‎02-14-2018

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?

Anonymous · ‎02-14-2018

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

Anonymous · ‎02-14-2018

@Anonymouswrote:
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.

JVille · ‎02-14-2018

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!