Reply
Member
cbo941
Posts: 12
Registered: ‎11-27-2013
0

Rooms to Go Financing Credit Question

I wanted to get some furniture from Rooms to Go and help build a little more credit. Does anyone know if their financing (through GE) is a hard inquiry or soft? Also, any information about your experience would be super helpful and appreciated!

 

Thanks


Starting Score: 535
Current Score: 657
Goal Score: 700


Take the myFICO Fitness Challenge
Community Leader
Mega Contributor
coldnmn
Posts: 15,943
Registered: ‎08-08-2011
0

Re: Rooms to Go Financing Credit Question

Welcome to the forum. Use the search at the top of the page and search rooms to go. You can read the different threads until someone answers this thread. Yes it will be a hard pull. 

My Wallet /US Bank Cash+ Signature $10,000/ Ace US Bank Signature $10,000 / Sam's Mastercard $8500
/ Walmart Mastercard $8000 / Discover IT $5000 / Care Credit $5000
/ Husqvarna $5000 / PayPal SmartConnect $4800 / Cap1 Quicksilver $4000 / Barclay Ring $3550
Last App 8/12/14 /

Valued Contributor
FinStar
Posts: 6,980
Registered: ‎10-21-2012
0

Re: Rooms to Go Financing Credit Question

AFAIK, all financing offers from GECAP or GECRB are HP.  Unfortunately, I don't have experience with their specific financing or pricing; however, you can get some general information from their T&C here > https://www.gecrbterms.com/gecrbterms/pdf/182-023-01.pdf

Frequent Contributor
CREDITSURFER
Posts: 303
Registered: ‎04-22-2013
0

Re: Rooms to Go Financing Credit Question

If you app for the RTG card dont be dumb like me and put in a low number like $2k because if you ask later for CLI its a hp. I should have said like $4-5k when oppening the card.



Mouse over for CL
FICO EQ (670) 9/6, TUwalmart (725) 11/4, Discover FICO (725) 11/19, AMEX EX Pull (728) 11/29
GOAL: 750 with all
Member
cbo941
Posts: 12
Registered: ‎11-27-2013
0

Re: Rooms to Go Financing Credit Question

Ok, forgive my ignorance but I don't know what "HP" means or "AFAIK". Also, does CLI mean credit line? Sorry, I'm trying to improve my credit and get some furniture at the same time. So you recommend to put more on the card they offer? I wasn't sure if they offered a card or if they just bill me each month for financing. How does the process go? I go in, pick out a furniture set - let's say for like $1,200 - and then I ask for financing and the lady sets me up and then what? Sorry for the questions but my credit is starting to shape up and I really need to improve it quickly so I figured getting a line of credit from somewhere would help.

 

Thanks


Starting Score: 535
Current Score: 657
Goal Score: 700


Take the myFICO Fitness Challenge
Moderator
Revelate
Posts: 9,762
Registered: ‎12-30-2011
0

Re: Rooms to Go Financing Credit Question


cbo941 wrote:

Ok, forgive my ignorance but I don't know what "HP" means or "AFAIK". Also, does CLI mean credit line? Sorry, I'm trying to improve my credit and get some furniture at the same time. So you recommend to put more on the card they offer? I wasn't sure if they offered a card or if they just bill me each month for financing. How does the process go? I go in, pick out a furniture set - let's say for like $1,200 - and then I ask for financing and the lady sets me up and then what? Sorry for the questions but my credit is starting to shape up and I really need to improve it quickly so I figured getting a line of credit from somewhere would help.

 

Thanks


Nah, nothing to forgive.  We all get caught up in forum lingo.

 

http://ficoforums.myfico.com/t5/User-Guidelines-General/Common-Abbreviations/m-p/88458

 

Anyway in particular:

 

HP = hard pull or hard inquiry - this type scores negatively against you for one year vs. a soft pull (SP) which does not.

AFAIK = as far as I know

CLI = credit limit increase

 

Starting Score: EQ 561, TU 567, EX 599* (12/30/11, EX lender pull 12/29/11)
Current Score: EQ 04 673, EQ 8 707, TU 720, EX 702* (09/02/14, EX older)
Goal Score: 700 on EQ '04 (01/01/15)


Take the myFICO Fitness Challenge

myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+
}