Showing results for 
Search instead for 
Did you mean: 

CFA notation

New Member

CFA notation

CFA notation


I applied for a personal loan, planning on using the funds to payoff my high interest credit cards. 

I am wondering if this loan is categorized as CFA. Can't find this info anywhere. The only info I received from is

lender: FinWise Bank
c/o Reach Financial, LLC


Anyone familiar w/ this company?

Message 1 of 3
Frequent Contributor

Re: CFA notation

No idea if the CFA designator is present or not, but I can tell you that I've had a CFA designator on my TU profile for several years (Lending Club and Sofi both used to report that way) and have scores that have ranged during that period between high 700s and low 800s.

It shows up as a reason code for me, but I cannot say that it's ever had any meaningful negative impact. 

Also, depending on your CC utilization, the tradeoff may well be very worth it (sometimes a dramatic improvement in score).

Fico8 = EQ 779, TU 802, EX 771 (6/22/2022), util = 6.5% ish
INQ in 12 mo: EQ 4, TU 4, EX 7
Cards: NFCU: Flagship VS $45k, Plat $24.3k, Plat $10.7k | Amex: Delta Reserve $50k | Citi: DC WE MC $28.8k | Discover: It $22.5k | Barclays: Juniper $15.25k | USAA: PCR VS $15k, RA $5k | UMB: SR VS $15k | PenFed: Path VS $20k, Plat Rew VS $15k | Synchrony: Lowes’s store $25k | Truist: Bright $10.5k, Bright $6.5k | Cap1: Venture1 Plat MC $10.3k, Kohls store $3k | Comenity: MyCash MC $17.5k | Wells Fargo: AC $10.3k | TD Bank: Target MC $6k (Reports as retail card despite now being MC) | BoA: CCR VS $30k | Affinity FCU: Premium VS $25k
Message 2 of 3
New Member

Re: CFA notation

Appreciate the info. With my cc utilization, yes trade-off is def worth it. I expect significant increase in my credit score. Thank you, again.

Message 3 of 3
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.