Is it true that finance company have a negative affect on credit scores? I have a Beneficial Line of Credit which was a Pre-Approved Check, my scores last 9 months ago where in the mid 650 before i got the LOC, you think it has a negative affect? or is it just in the first couple of months? i have low balance.
I was just about to post on your Beneficial thread. I have been under the impression that it does have a negative impact on your score. A friend was going to go that route, and he backed out because someone had told him the same thing. No 1st hand experience though. Charlie
Cool, I already have a Beneficial Line of Credit, but I was looking for more information to see if it was really true, many people only have Credit Cards and then they get a Finance Company Account on their credit report and that may lower their scores. But I have Mortgage Accounts, Car Loans, ect.
anyone know if consolidating student loans would be considered a finance co? it is with cfs. collegiate funding services
