New Member
Posts: 4
Registered: ‎04-02-2010

Consumer credit?

I have a few consumer credit accounts listed on my credit reports. They were from Aaron's rental I had about 4 for them. At the time it was the only way I could get the things that I needed. I paid them all off on time or early but when I pull my score on myfico it counts as negative because it's a consumer account. How much does the really hurt my score? 

Posts: 22,406
Registered: ‎01-17-2008

Re: Consumer credit?

Consumer finance loans are considered bad because they are looked at as for people with bad credit or high risk. 

myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

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