@jxflyer wrote:
My Home Depot Credit Card (issued by Citibank NA) shows up as a consumer finance company on my credit report and is listed as a negative factor in my score. Is this supposed to be the case and if not, how do I change it (other than closing the account and waiting 7 years).
FWIW, the account was used for a Dishwasher, paid on time, paid off in 6 months and has a really high credit limit with zero balance.
Thanks
I'm sorry I missed this thread. Glad it got bumped.
Both DW and I have a separate CC (store card) and got it after buying our home last year. TU lists it as Revolving and EQ lists it as a "personal loan company". Neither of my reports show a CFL in the negative reason codes, and my reports are clean, except for high util.
If it matters any, I opened my card without applying for anything specific. They gave me $500. I called from the store and asked for a CLI to pay for a dishwasher as well and a washer/dryer. They approved to $3000 and maxed that out for the purchases and all were at 0%. I can't remember the terms, but I had to pay off the dishwasher in December and had to pay off the washer/dryer last month. DW also got a $500 CC but never used it.
OP, did you apply when picking out the dishwasher? Maybe the difference is being approved for a specific purchase vs. being approved for the card w/ no specific purchase.
