Do finance companies have a negative impact on a credit score?
• The presence of a loan finance account can negatively affect your score because they often carry high interest rates (which may hamper your ability to repay), which many lenders view negatively. However, these accounts, when paid on time can also have a positive affect on your score (if the loan helps you to make your payments in a more timely fashion for example).
The presence of a loan finance account can negatively affect your score because these accounts often carry high interest rates which may hamper your ability to repay and which many lenders view negatively. However, when paid on time, these accounts can also have a positive effect on your score (if the loan helps you to make your payments in a more timely fashion, for example).
