Moderator Emeritus
Posts: 4,469
Registered: ‎12-31-2008
Re: Consumer Finance Companies

LynetteM wrote:


Hi responded on a thread that is a couple of years old, but it still contains good information. If you want to list which accounts are on your reports, someone can likely come along and pick out the account that is the "consumer finance" culprit. Then you can get some advice on whether there is anything to do about it.



I wish they (Consumer Finance Company Accounts) were listed on our FICO reports so they were easier to find, but they’re not (or at least I can’t find them there).  The good news is that there’s a couple of ways to find out which accounts they are.  On this thread, Moderator Tuscani wrote: 

  “The way it [the FICO formula] 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.) 

The codes that Tuscani’s talking about are also called KOB (Kind of Business) Codes.  You can google them – one place google will send you to is TU’s pamphlet “TransUnion Credit Report Guide” (Experian publishes a list also – it seems identical), which lists them and shows you where to find them on your report.


I can find the KOB on my mortgage pull, which came from CBCInnovis, and on my CCT inquiry page – which matches the CBCInnovis data, so it seems pretty accurate.  Hope that helps anyone who’s trying to find the mysterious Consumer Finance Companies.


I have to note, too, that my mortgage pull brought “Consumer Finance Companies” in as my #2 EQ ouch.  Myfico EQ report pulled the same day did not include it in my list of three negative factors – so there’s a little discrepancy in that aspect of the reports ;(.



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