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Originally Posted by Ima saver
You should always pay off your debts first. I would think a finance company would lower your fico score!
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Thanks for responding to my post Ima Saver! You are so right about paying off my debts first! I wrote a check to HFC today for the balance. I have $4,900.00 worth of debt now and according to Quicken that will be gone before the year is over. I do want to get in on the HSBC offer, however!
The presence of finance companies on one's credit report does affect the FICO score and that is the reason for this thread. I didn't know this for sure but seeing it written under Negative Factors on my Experian report makes it real.