Re: Consumer Finance Companies
11-30-2009 09:44 AM
Tuscani wrote:The FICO formula does not distinguish between prime/subprime per se. The way it identifies a 'consumer finance' account is through the bureau subscription code -- the lender's ID# at the bureau -- that, among other things, indicates what kind of business it is. (This is also how mortgage and auto inquiries are distinguished from other inquiry types.)
This fits in with what we've seen on DH & my reports.
GEMB Care Credit is listed as Consumer Financing for DH.
GEMB Walmart and GEMB JCPenney is listed as Consumer Financing for me.
When I opened my GEMB accounts, "Too Many Consumer Finance Accounts" jumped up to become my #2 baddie.