DFS/WEBBANK 52%!

[bourgogne]

Hi, dont know if this is the correct spot for my post but if it reports like a card then...so I picked up a 1 year no interest loan from Dell in 12/15 - was done only to round out my file...reports a a charge account loan was $ 1200 - $ 2000 CL, balance is around ~$ 950 and its currently reporting 52% which comes up as a neg on at least CK.  This does not seem like a good thing to me.  I was going to toss $ 700 at it to bring it down and make payments until the 1/17 complete date.  I assume this will impact my scores in a positive way, am I right?  Thank you + hope everyone is having a great weekend

[myjourney]

---

@omfgpart2 wrote:

Hi, dont know if this is the correct spot for my post but if it reports like a card then...so I picked up a 1 year no interest loan from Dell in 12/15 - was done only to round out my file...reports a a charge account loan was $ 1200 - $ 2000 CL, balance is around ~$ 950 and its currently reporting 52% which comes up as a neg on at least CK.  This does not seem like a good thing to me.  I was going to toss $ 700 at it to bring it down and make payments until the 1/17 complete date.  I assume this will impact my scores in a positive way, am I right?  Thank you + hope everyone is having a great weekend

---

I've seen cases of this not being listed as an installment loan but rather a consumer loan in which case that usually shows as a negative

How's it listed?

Explain statement in bold pls?

Thanks 

[bourgogne]

---

@myjourney wrote:

---

@omfgpart2 wrote:

Hi, dont know if this is the correct spot for my post but if it reports like a card then...so I picked up a 1 year no interest loan from Dell in 12/15 - was done only to round out my file...reports a a charge account loan was $ 1200 - $ 2000 CL, balance is around ~$ 950 and its currently reporting 52% which comes up as a neg on at least CK.  This does not seem like a good thing to me.  I was going to toss $ 700 at it to bring it down and make payments until the 1/17 complete date.  I assume this will impact my scores in a positive way, am I right?  Thank you + hope everyone is having a great weekend

---

I've seen cases of this not being listed as an installment loan but rather a consumer loan in which case that usually shows as a negative

How's it listed?

Explain statement in bold pls?

Thanks 

---

EQ Account Type: Sales Financing Company > Terms: Revolving

EX Account Type:  Sales Financing > Terms: M

TU Account Type:  Finance, Personal > Terms: Minimum

Re the ‘round’ comment, I have a closed mortgage, closed and an open car lease but had at the time of the dell loan only a single card.  I was looking for something easy to quality for and for something positive to add to my file. I also needed a laptop and who can pass up n/c % lol.  I wanted to raise my score so I could quality for better and more cards which I did.  The DFS does not seem to be impacting my util on my reports but it’s a red flag on CK so if there is any chance it causing damage I would rather just pay it down and forget about it.  I hope this helps but if not tell me what you need please.

Thank you for responding to my query, it’s much appreciated. 

[myjourney]

---

@omfgpart2 wrote:

---

@myjourney wrote:

---

@omfgpart2 wrote:

Hi, dont know if this is the correct spot for my post but if it reports like a card then...so I picked up a 1 year no interest loan from Dell in 12/15 - was done only to round out my file...reports a a charge account loan was $ 1200 - $ 2000 CL, balance is around ~$ 950 and its currently reporting 52% which comes up as a neg on at least CK.  This does not seem like a good thing to me.  I was going to toss $ 700 at it to bring it down and make payments until the 1/17 complete date.  I assume this will impact my scores in a positive way, am I right?  Thank you + hope everyone is having a great weekend

---

I've seen cases of this not being listed as an installment loan but rather a consumer loan in which case that usually shows as a negative

How's it listed?

Explain statement in bold pls?

Thanks 

---

EQ Account Type: Sales Financing Company > Terms: Revolving

EX Account Type:  Sales Financing > Terms: M

TU Account Type:  Finance, Personal > Terms: Minimum

Re the ‘round’ comment, I have a closed mortgage, closed and an open car lease but had at the time of the dell loan only a single card.  I was looking for something easy to quality for and for something positive to add to my file. I also needed a laptop and who can pass up n/c % lol.  I wanted to raise my score so I could quality for better and more cards which I did.  The DFS does not seem to be impacting my util on my reports but it’s a red flag on CK so if there is any chance it causing damage I would rather just pay it down and forget about it.  I hope this helps but if not tell me what you need please.

Thank you for responding to my query, it’s much appreciated. 

 Those are showing as consumer loans 

Since you don't need ..... close and move on and honestly I'd bet that paying off and showing as closed will increase your scores 

FYI never ever count or believe what CK says other than using for monitoring your CR's 

---

[bourgogne]

---

@myjourney wrote:

---

@omfgpart2 wrote:

---

@myjourney wrote:

---

@omfgpart2 wrote:

Hi, dont know if this is the correct spot for my post but if it reports like a card then...so I picked up a 1 year no interest loan from Dell in 12/15 - was done only to round out my file...reports a a charge account loan was $ 1200 - $ 2000 CL, balance is around ~$ 950 and its currently reporting 52% which comes up as a neg on at least CK.  This does not seem like a good thing to me.  I was going to toss $ 700 at it to bring it down and make payments until the 1/17 complete date.  I assume this will impact my scores in a positive way, am I right?  Thank you + hope everyone is having a great weekend

---

I've seen cases of this not being listed as an installment loan but rather a consumer loan in which case that usually shows as a negative

How's it listed?

Explain statement in bold pls?

Thanks 

---

EQ Account Type: Sales Financing Company > Terms: Revolving

EX Account Type:  Sales Financing > Terms: M

TU Account Type:  Finance, Personal > Terms: Minimum

Re the ‘round’ comment, I have a closed mortgage, closed and an open car lease but had at the time of the dell loan only a single card.  I was looking for something easy to quality for and for something positive to add to my file. I also needed a laptop and who can pass up n/c % lol.  I wanted to raise my score so I could quality for better and more cards which I did.  The DFS does not seem to be impacting my util on my reports but it’s a red flag on CK so if there is any chance it causing damage I would rather just pay it down and forget about it.  I hope this helps but if not tell me what you need please.

Thank you for responding to my query, it’s much appreciated. 

 Those are showing as consumer loans 

Since you don't need ..... close and move on and honestly I'd bet that paying off and showing as closed will increase your scores 

FYI never ever count or believe what CK says other than using for monitoring your CR's 

---

GOOD GRIEF!  You have to be kidding me - figure of speech.. I have made only 4 payments on it - I thought of having at least 6 months would be of some benefit.  If I don’t hear anything further to oppose your idea I will act on it.  Thank you again.

Oh, totally agree on CK - just the big red letters got me thinking...