@dragontears wrote:
@silver_idle wrote:
@HarleyMan2014 wrote:
@CreditCuriosity wrote:Doesn't report as cfa for me
Dunno if this is common knowledge, but what is CFA as it relates to LightStrean?
To my knowledge, CFA Lenders usually lend to those who usually dont qualify for prime loans (such as loans from a bank or credit union). The CFA coding can be seen as negative on one report even after paying them successfully due to the loans being geared towards those who are considered risky. Its not really easy to tell who will report this coding until it does happens since not every lender will be reported as a CFA.
People have had auto loans (even ones with 0% APR), personal loans, and even reports of student loans being coded as a CFA. It is impossible to tell by looking at your reports if a loan is being "seen" as a CFA by FICO.
On the bright side, the negative reason code of a CFA tends to fall below inquiries so not much of an impact for most.
Thats insane, I could have refinanced the credit union loan with the credit union, it's just that the LighStream Product was far better, in terms of the interest rate and length of loan.
@HarleyMan2014 Yes and what's more messed up is that some places may deny or restrict certain things if they see a CFA and list it as a reason why when in reality you got the Consumer Finance to be more Financially responsible by taking advantage of 0% offers or installment type things. I was so sad when I found out one of my things ended up being a CFA and didn't even know anything about them until I went to do something (I can't remember if it was a CLI or an App for something) but they listed as a negative 3 CF Accounts and I was like.....a WHAT?! SMH but as someone else stated before the actual affect to your score shouldn't budge it to much but it can be looked at as a 'negative' to some people so just be careful and if someone says they will be a CFA if they can tell you in advance just be mindful of that 
