Valued Contributor
Posts: 1,971
Registered: ‎02-06-2011
Re: What are consumer finance accounts?

GregB wrote:



I didn't mean to be critical of your answer but reading it after the fact it reads like I was. Please accept my apology.


Your answer is correct in the meaning of the word in general. I made an assumption based upon the question being in the "Understanding FICO Scoring" forum.


I was referring to the FICO specific negative when your credit report contains "consumer finance" accounts. FICO seems to have chosen a very narrow meaning of the term.

Please don't be sorry Greg, I did not take your reply as being critical, not one bit.


I am just happy that you did reply and answer the OP's specific question, while I was researching the answer, I did not take into account his specific question regarding "What are CFA's by FICO".


I am also glad that you replied, because I learned something from your reply, and that's one of the reasons I'm here, is to learn, I am also here to try and help others when I can, unfortunately, I can't be right 100% of the time, and it's Members like you that are a vital part of my learning process.


I do greatly appreciate your last reply, that reply just shows your respect for others on this Forum, and I feel that I owe you a Thank You, for providing the specific answer that the OP was looking for, as it taught me something as well.


Thank you again Greg.

Starting Score: 583
Current Score: 3-03-12-EQ-802 TU-806 EX-798 (EQ Beacon 9: 804 Lender Pull 3-08-12) All FICO's
Goal Score: 800+ across all three

Take the FICO Fitness Challenge