You may not know this but there is a huge difference in the type of lenders that you use!
Banks and Credt Unions are looked at more favorably from a FICO credit scoring standpoint than a general finance companies.
A few examples of general finance companies are Beneficial, World Acceptance Corporation, Lendmark Financial Services are not a good thing to have on your credit report!
Having one these general finance company account n your credit report will lower your credit score. Stay with you major banks and credit unions!
Be careful when you go shopping and they have their "own" finance companies, not only will the
interest rate and fees kill you, it slaughter your credit report!
I recently got offered a loan via mail from one of these finance companies, and the offer included tickets to a Dodger game! Well I didnt take the offer but I did go the game with my best friend and "best man" at my wedding Raul and his wife!
Till next time!
Carlos Samaniego
P.S. Do you want to see if you have one of the bad finance companies on your credit, call my office today for a free debt & credit review at (909)307-0977 or email me at carlos@carlossaamaniego.com
