Senior Contributor
MattH
Posts: 3,240
Registered: ‎04-03-2008
Re: What are consumer finance accounts?
A few years ago my wife and I financed a new A/C compressor for our residence through Carrier (the manufacturer) because the terms were quite favorable. Only afterwards did I realize that because the financing came from Citifinancial (the "consumer finance" division of Citibank), this was treated as a CFL for FICO scoring. Fortunately, on an otherwise clean history one Consumer Finance Loan is a very minor ding. The mailing address for Citifinancial was different from their prime credit card operations, as my wife and I both noticed. She and I both have individual Citibank credit card accounts that were estabished in the 20th century, so the mailing address for Citibank's prime cards was very familiar to us. Today, she and I both pay our Citi bills electronically so it has been a while since either of us sent any snailmail to Citibank, today I have forgotten their mailing address.
TU 791 02/11/2013, EQ 800 1/29/2011 , EX Plus FAKO 812, EX Vantage Score 955 3/19/2010 wife's EQ 9/23/2009 803
EX always was my highest when we could pull all three
Always remember: big print giveth, small print taketh away
If you dunno what tanstaafl means you must Google it