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!!!  :smileysurprised:


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 :smileyindifferent: )


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


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.