cancel
Showing results for 
Search instead for 
Did you mean: 

Personal Loan

USER1056689
New Contributor

Re: Personal Loan

Barclays and Citizens One both have prequals you could try.

FICO8 Scores:
EX: 686 – 4/1/2019
TU: 708 – 4/1/2019
EQ: 712 – 4/1/2019



FICO9 Scores:
EX: 682 – 4/1/2019
TU: 710 – 4/1/2019
EQ: 729 – 4/1/2019


Message 11 of 12
VoltaicShock
Established Contributor

Re: Personal Loan


@Overmedicated wrote:

@VoltaicShock wrote:

@Overmedicated wrote:

@VoltaicShock wrote:

You could take a look at BestEgg they don't list it as debt consolidation.  It will just show as a regular personal loan on your credit report.


They may not list it as debt consolidation but the credit bureaus may list it as a Consumer Finance Account(CFA).  There was a recent thread on this and certainly isn't something you would volunteer to have on your report.

 


Will it show like this?  I looked at mine and it just comes up as an installment loan.


You'll only know that it is listed as a CFA on your credit reports by reading the negative reason codes associated with why your score isn't higher.  Some people don't even know they have one and even experienced people may have trouble picking out exactly what loan is causing the CFA code.  There are no revolving accounts that are considered CFAs.  CFAs are 100% installment loans.

 

So yes, your loan would certainly have to be reporting as an installment to be considered a CFA.  I have one because I didn't know any better at the time.  My car loan through ALLY(GMAC) that I bought at the dealership codes as a CFA for me.  So Best Egg, Prosper, Lending Club are known to trigger this code, some car loans, and other kinds of installment type loans.

 

CFA.JPG

 

 


I checked all of mine and none of them list " You have a consumer finance account on your credit report".



FICOBeginning (6/2017)Current
Equifax636707
Transunion627725

Experian623726
Message 12 of 12
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.