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Consumer Finance Comanpy Accounts

New Member

Consumer Finance Comanpy Accounts

Recently pulled my report through Equifax and it had a "Too many Consumer Finance Company Accounts" negative on it. The problem is, as far as I know I have zero of those, unless I'm misunderstanding what they are. I have 3 credit cards with Capital One, one credit card with Citi Group. I have an auto loan through Capital One. Those are all the lines of credit that I have. Are Capital One loans considered consumer credit loans?

Message 1 of 5
Super Contributor

Re: Consumer Finance Comanpy Accounts


Are any of your credit cards store cards ?

March2010 FICO® ~ 695 TU, 653 EQ, 697 EX
Message 2 of 5
Established Contributor

Re: Consumer Finance Comanpy Accounts

I'm having the same problem I have no idea which of my accounts are consumer finance accounts...

Message 3 of 5
New Member

Re: Consumer Finance Comanpy Accounts

I don't have any store cards

Message 4 of 5
Valued Contributor

Re: Consumer Finance Comanpy Accounts

This notation could also apply to a closed account that appears on your credit report. As mentioned above a lot of merchant accounts are coded this way as well as some of the more risky consumer loan accounts. It is not a large negative anyway and if this is in your top three reasons your score could be better then you are doing alright.

Best financial advice I ever got: "Just imagine what an adult would do and do that."

Starting Score: 500's
Current Score: EQ 701 (FICO) TU 721 (FICO) EX 715 (Quizzle)
Goal Score: 760 ALL

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Message 5 of 5