myFico says I have 3 "Consumer Finance Accounts" But I don't see them?

[Anonymous]

But you got understand CFA is one of the smallest penalties that exists. So it’s usually going to be at the bottom of the list. The denial letter you show had five reasons, so if there was a sixth you would not have seen it. Now had you shown us that and it only had three codes and didn’t have CFA you would have a point.

I do notice it's above inquiries though, did any inquiries become unscoreable in between the two documents?

Although at the same time, there is a possibility that it was never properly entered and coded correctly and they may have reviewed it and corrected it.

[AzCreditGuy]

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@Anonymous wrote:

But you got understand CFA is one of the smallest penalties that exists. So it’s usually going to be at the bottom of the list. The denial letter you show had five reasons, so if there was a sixth you would not have seen it. Now had you shown us that and it only had three codes and didn’t have CFA you would have a point.

I do notice it's above inquiries though, did any inquiries become unscoreable in between the two documents?

Although at the same time, there is a possibility that it was never properly entered and coded correctly and they may have reviewed it and corrected it.

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@Anonymous  Again I have to disagree with you, I dont feel there were 6 codes. I disputed something with TU back in May with access to thier website and they sent me a full TU Report for 5/12/2020 , they show the account as Installment and unsecured paid monthly for 48 months . Experian shows the account as an installment also but with no mention of it being unsecured. 

I only have 2 INQ for TU, 1 of would become unscoreable in June (my guess they did it early) and the other one in July

[Anonymous]

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@AzCreditGuy wrote:

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@Anonymous wrote:

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@Anonymous wrote:

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@AzCreditGuy wrote:

TU never reported my SOFI loan as a CFA until I got a 4th denial letter from Discover for a CLI (SP). My Accounts are equal on all 3 expect in Scores TU 714 EX 731 EQ 731 as of June 17th 2020.....TU is garbage 

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I'm pretty sure the CRAs have a list. It was probably already marked and just too far down the negative reason code list.

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Yep. That's exactly what happens. People get these loans and then tell other people that they don't code as CFAs but they don't realize that their scores are low enough that the reason code doesn't appear. 

@Anonymous @Anonymous  I have to disagree with your statements. I had to look at the TU letters that were sent to me for denial of CLI from Discover for April and May .....While in April I had balances on all my accounts and that would reflect "TOO MANY ACCOUNT WITH  BALANCES" I do believe that these were all the codes and not some in hiding 

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Than early in May I ended paying off 3 of credit cards with balances and instead of "TOO MANY ACCOUNTS WITH BALANCES" it was replaced with "TOO MANY CONSUMER FINANCE COMPANY ACCOUNTS" which is a total lie since the SOFI Personal loan is the only loan I have ..... TU is doing me wrong 

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 No, what happened is in May you stopped getting dinged as much for the number of accounts with balances. The reason codes appear in descending order of point loss. It's an interesting DP to see that inquiries are costing you less than CFAs though. How many inquiries?

ETA: I see that you have 2 inquiries. So that CFA code is probably costing you something like 5-10 points. 

[Anonymous]

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@AzCreditGuy wrote:

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@Anonymous wrote:

But you got understand CFA is one of the smallest penalties that exists. So it’s usually going to be at the bottom of the list. The denial letter you show had five reasons, so if there was a sixth you would not have seen it. Now had you shown us that and it only had three codes and didn’t have CFA you would have a point.

I do notice it's above inquiries though, did any inquiries become unscoreable in between the two documents?

Although at the same time, there is a possibility that it was never properly entered and coded correctly and they may have reviewed it and corrected it.

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@Anonymous  Again I have to disagree with you, I dont feel there were 6 codes. I disputed something with TU back in May with access to thier website and they sent me a full TU Report for 5/12/2020 , they show the account as Installment and unsecured paid monthly for 48 months . Experian shows the account as an installment also but with no mention of it being unsecured. 

I only have 2 INQ for TU, 1 of would become unscoreable in June (my guess they did it early) and the other one in July

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@AzCreditGuy are you saying that it didn't previously say unsecured? Whether it's secured or unsecured should not matter. You could be right, but you there's no way to say conclusively because it is possible the code was hiding. The only way you can know for sure is when you have less than the maximum number of codes.

With that said, if you didn't have an inquiry drop between April and May, then that does give credence to your position because it was above inquiries in May. 

[Anonymous]

@Anonymous but if that was the case, why wasn't CFA listed in spot number 5 in April? He said the inquiry wasn't supposed to become unscoreable until June.

[AzCreditGuy]

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@Anonymous wrote:

@Anonymous but if that was the case, why wasn't CFA listed in spot number 5 in April? He said the inquiry wasn't supposed to become unscoreable until June.

@AzCreditGuy do you have 3 loans through that lender?

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@Anonymous I only have 1 Sofi personal loan that turns 1 year old in July and no closed loans on my report....Im telling you TU is doing me wrong and I may have to get legal shield involved again with them

[Anonymous]

Well if you only have one then I believe you because the language said “too many” which indicates more than one and it’s saying 3 when you only have one. I would dispute accordingly and take whatever necessary actions subsequent to that.

(Edit: I got mixed up between OP and the other member it was OP that had three..)

[Anonymous]

Have you viewed your ACR report?

[Revelate]

We are making this more complicated than it needs to be.

There is a singular reason code for CFA and most places have it listed as "Too many CFAs" or some facsimile of that.

You can read that as "you have a CFA" as even 1 is enough to trigger that.

The one that is strange is the Inquiries one in the 5th slot... I only saw the 5th slot the first time recently never saw more than 4 with any other lender pull.  Unfortunately I don't get F9 anywhere let alone reason codes but in my case Too Many Consumer Finance Company Accounts that USBank gave me was #4 and Recent Inquiries was #5 when I have one CFA and one scoreable inquiry at the time of the pull.

Anyway there isn't anything on the credit report to label something as a CFA: I agree it is absolutely terrible and needs fixing but it's what we have.  If you get a loan from anywhere other than a bank or CU you are running the risk of getting the tag: it is that simple and it sucks.

[AzCreditGuy]

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@Revelate wrote:

We are making this more complicated than it needs to be.

There is a singular reason code for CFA and most places have it listed as "Too many CFAs" or some facsimile of that.

You can read that as "you have a CFA" as even 1 is enough to trigger that.

The one that is strange is the Inquiries one in the 5th slot... I only saw the 5th slot the first time recently never saw more than 4 with any other lender pull.  Unfortunately I don't get F9 anywhere let alone reason codes but in my case Too Many Consumer Finance Company Accounts that USBank gave me was #4 and Recent Inquiries was #5 when I have one CFA and one scoreable inquiry at the time of the pull.

Anyway there isn't anything on the credit report to label something as a CFA: I agree it is absolutely terrible and needs fixing but it's what we have.  If you get a loan from anywhere other than a bank or CU you are running the risk of getting the tag: it is that simple and it sucks.

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@Revelate I agree this should be simple and it not because of TU, you are are even finding it strange about my INQ being in the 5th slot. I dont believe the CFA was ever there only until my 3 account balances where paid off, than TU put FCA. Sorry but state you have 1 FCA under the TU code "Too many CFAs" is BS, sorry but TU is full of it. 

@Anonymous  When you send TU legal letters about your CREDIT rights, they will place you in "Special Account" status, when means you have to jump to hoops to even see your reports.  They have been and are denying me access to my ACR, unless I fill out a sheet and mail off all this docs to prove who I am. 

What I found strange about my to access to an official TU website to dispute that I opened with CFPB, I no longer have access to my US BANK credit check with TU credit Dashboard...its been like for about a month now