Moderator Emeritus
Posts: 4,470
Registered: ‎12-31-2008
Re: Close old credit card and/or increase limit on new one?

score_building wrote:

IIRC there were a few isolated posts citing Care Credit, a revolving acct., as improperly reporting as a CFL.  



Ach!!!  that was probably me!!!  Smiley Surprised

 

A while back, and when I was relatively new here, I did have a note on my Care Credit inquiry that it was for "consumer finance"  on one of my FAKO score reports (CCT - IIRC).  And I did have a note on my FICO report pulled here that I had too many Consumer Finance accounts.  Very very confusing to me. 

 

But FICO doesn't  put revolving accounts in the CFA category - so my Care Credit has never been seen as a Consumer Finance account by FICO, in spite of how my CCT report categorized the inquiry.  When I learned how FICO viewed the account, I posted the corrected info (hopefully on each and every one of my posts that indicated anything to the contrary Smiley Indifferent )

 

This was part of how I learned to discount some of the info (and the FAKO scores) on CRMS pulls.  Smiley Surprised

 

It turned out that the CFA that FICO was recognizing (and scoring me on) was a mortgage (through Litton IIRC).  My Care Credit account was not the culprit. 

Care Credit still gives me the willies, though, because of their financing terms.  I closed mine and use my local CU account for medical instead.  Same CL as Care Credit, but I sleep better if I have to carry a balance for a short while.

 

Sorry if this thread has been totally hi-jacked. 

Just puttin' syrup on something, don't make it pancakes.