Does the lender affect credit reports?

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DJB10315c
 
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Does the lender affect credit reports?

Postby DJB10315c » Sun Jun 26, 2016 7:05 pm

Hey everyone,

Without debating fees, rates, rewards and everything else...does the lender/issuer have any affect on credit scores? For instance, Capital One vs Chase vs BoA vs AMEX...? Or is it solely dependent on how the user treats the credit given?

I'm in good shape with my credit but Im wondering if there is any correlation between high scores and lenders used?

Thanks!


takeshi
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Re: Does the lender affect credit reports?

Postby takeshi » Mon Jun 27, 2016 10:05 am

No. Consumer finance accounts can have a negative impact but none of your examples are such.

See:
http://www.myfico.com/crediteducation/w ... score.aspx

It doesn't cover everything and doesn't mention consumer finance accounts but the creditor generally doesn't matter.

DJB10315c wrote:Does the lender affect credit reports?

DJB10315c wrote:does the lender/issuer have any affect on credit scores?

Don't conflate reports and scores.

DJB10315c
 
Posts: 2
Joined: Sat Jun 25, 2016 8:22 pm

Re: Does the lender affect credit reports?

Postby DJB10315c » Mon Jun 27, 2016 10:19 am

Thanks! I primarily use Capital One (I have a grandfathered World MC QS and the newer VS QS). I use those for most purchases throughout the month. I use my Chase FU enough to show action. My credit history is strong with Capital one and the rewards programs fit my lifestyle and spending habits.

I've seen it referred to as better for people with rough credit history so I didn't want to get looked at by the breaureus as such just because I like the programs they offer.

I also don't spend enough to make most cards with AF worth it. I do some traveling but I've got a work issued card for that.



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