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Does anyone have any history with Tiffany & Co. Financing? Purchase amount, credit line given, income, credit score, and that sort of info.
I am looking for the same information. If anyone knows please respond!
I searched the board not much there. Link below.
Made a $7500 purchase using the Tifffany finacing option. It was a very easy process. I filled out the standard credit form that asks for the basic of income, residency, and other usual information. The sales person calls in the information and within about 5 minutes I was done. Terms were 14 months at 0%. It was 14 months because of a delay in when the first payment is due. Actual term was 12 months as the paperwork reads. I was told shows as an installment loan which is good in my opinion. The rest of the terms was 50% down. I used a 0% credit card for this payment.
The approval is pretty easy as long as you don't have a bad history and income to support the purchase. My score was 650 EQ. Believe it or not larger purchases of $10,000 or more usually have a 20% down instead of 50%. The girl at Tiffany's tried to explain why to me but I did not understand. I was going to do 50% even if the terms required less.
For those that say this is a bad idea I have this: I have the cash in the bank. This is a purchase that can be paid over 1 year with no interest and no fees of any kind. As long as you are making resposible purchases it is a no brainer to use someone elses money. The problem begins when you use credit and your cash and have nothing in reserve.