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Does American Signature Furniture account report like CC?

Regular Contributor

Does American Signature Furniture account report like CC?

I am in the process of moving and I'm in dire need of new furniture and I dont want to max out my credit cards or deplete my savings. I was approved to get an American Signature furniture account at $1500 CL will it report as revolving?  I was worried my score would take a great hit because more than likely the limit will be maxed out?

Current 3B scores Dec 2016: EQ: 794 TU: 785 EX: 755
Mortgage scores Dec 2016: EQ: 744 TU: 748 EX: 743
2017 Goal: reduce debt and purchase first home
Total credit lines: 112K
Message 1 of 6
5 REPLIES
Valued Contributor

Re: Does American Signature Furniture account report like CC?

It will report as a revolving CL like a traditional CC rather than a line of credit.
Message 2 of 6
Regular Contributor

Re: Does American Signature Furniture account report like CC?


MrShush wrote:
It will report as a revolving CL like a traditional CC rather than a line of credit.

Thanks, I may have to calculate my util on all my accounts because the furniture I want comes up to $1475, I know I will pay it off in 6mths but I am afraid of the maxed out dropping my score alot of points/

Current 3B scores Dec 2016: EQ: 794 TU: 785 EX: 755
Mortgage scores Dec 2016: EQ: 744 TU: 748 EX: 743
2017 Goal: reduce debt and purchase first home
Total credit lines: 112K
Message 3 of 6
Valued Contributor

Re: Does American Signature Furniture account report like CC?


cd2004 wrote:

MrShush wrote:
It will report as a revolving CL like a traditional CC rather than a line of credit.

Thanks, I may have to calculate my util on all my accounts because the furniture I want comes up to $1475, I know I will pay it off in 6mths but I am afraid of the maxed out dropping my score alot of points/


 

 

are you planning on applying for anything else in the next 6 months, if not don't worry about your scores

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Message 4 of 6
Moderator Emeritus

Re: Does American Signature Furniture account report like CC?


ryanbush wrote:

cd2004 wrote:

MrShush wrote:
It will report as a revolving CL like a traditional CC rather than a line of credit.

Thanks, I may have to calculate my util on all my accounts because the furniture I want comes up to $1475, I know I will pay it off in 6mths but I am afraid of the maxed out dropping my score alot of points/


 

 

are you planning on applying for anything else in the next 6 months, if not don't worry about your scores


+1  Maxing your scores only matters when you're apping for credit.  You'll take a ding due to Util but when you pay that off it'll shoot right back up.

Starting Score: 504
July 2013 score:
EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+
Take the myFICO Fitness Challenge

Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!

June 2017 update: All scores over 820, just pure gardening now.
Message 5 of 6
Regular Contributor

Re: Does American Signature Furniture account report like CC?


ryanbush wrote:

cd2004 wrote:

MrShush wrote:
It will report as a revolving CL like a traditional CC rather than a line of credit.

Thanks, I may have to calculate my util on all my accounts because the furniture I want comes up to $1475, I know I will pay it off in 6mths but I am afraid of the maxed out dropping my score alot of points/


 

 

are you planning on applying for anything else in the next 6 months, if not don't worry about your scores


No I dont plan on applying for anything in the next year or so, I have applied for all the things I needed in the last 4mths. I was just trying to reach my goal score of 700's by end of year but right now my furniture is more important. I am like 30-50 pts on each bureau away from 700's

Current 3B scores Dec 2016: EQ: 794 TU: 785 EX: 755
Mortgage scores Dec 2016: EQ: 744 TU: 748 EX: 743
2017 Goal: reduce debt and purchase first home
Total credit lines: 112K
Message 6 of 6