@flan wrote:
@Anonymous wrote:
Here's a denial from today that specifically mentions consumer finance. It's one Lending Club loan.
We also obtained your credit score from TransUnion and used it in making our credit decision. Your credit score is a number that reflects the information in your consumer report. Your credit score can change, depending on how the information in your consumer report changes.
Your credit score: 791
Date: 2015-06-17 13:33:31 -0500
Scores range from a low of 300 to a high of 850
Key factors that adversely affected your credit score: "Proportion of loan balances to loan amounts is too high,Time since most recent account opening is too short,Length of time revolving accounts have been established,Too many consumer finance company accounts,The number of inquiries on the consumer's credit file has adversely affected the credit score."
It doesn't tell you any such thing. It's a denial. And a score, with the scoring factors. The scoring factors have to tell you what's keeping you from getting a perfect score, so with a score that high, consumer finance will show up. But there's no telling what the denial reason is. It could be the consumer finance account. It could be you don't qualify for some other reason -- like your dti is to high, you have too many new accounts, you have too few new accounts, or they don't lend to people who spell their name in ALL CAPS. You can't tell from that letter, and they don't have to be more specific (though lenders often are, if there's an objective reason they can point to like "insufficent income").
No idea what you're talking about. I simply stated that a denial letter mentioned a consumer finance account as a negative factor. Which, obviously, it does.
