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rbbyrbsn wrote:
Don't you hate when you read something then can't remember where your read it?I well I read article somewhere, that department store cards and consumer finance(companies that loan money that aren't banks) factor negatively in the 10% credit mix part of your score.apparently they are considered "lesser forms" of credit, I think it goes on the premise"What's your problem that won't deal with a bank or have a major credit card"but they don't know your only doing it to get the discount..
Message Edited by rbbyrbsn on 08-16-2007 11:21 AM
fused111 wrote:Consumers Finance Loans = FICO doesn't like emDepartment Store Cards = FICO wants to see one or two
tessarue wrote:
fused111 wrote:Consumers Finance Loans = FICO doesn't like emDepartment Store Cards = FICO wants to see one or twoFused, this may be a stupid question but...what exactly are "Consumer Finance Loans"? Example?TessaI'm not 100% on this , but I think when a companies extend credit directly rather than a bank. they are giving you IOU, vs a car dealership that gets their money from bank and you have a IOU for the bank
fused111 wrote:
rbbyrbsn wrote:Don't you hate when you read something then can't remember where your read it?I well I read article somewhere, that department store cards and consumer finance(companies that loan money that aren't banks) factor negatively in the 10% credit mix part of your score.apparently they are considered "lesser forms" of credit, I think it goes on the premise"What's your problem that won't deal with a bank or have a major credit card"but they don't know your only doing it to get the discount..
Message Edited by rbbyrbsn on 08-16-2007 11:21 AMConsumers Finance Loans = FICO doesn't like emDepartment Store Cards = FICO wants to see one or two
My wife had a very bad experience with CITI Financial some years back. They're reallllllly sleazy!
MidnightVoice wrote: