Financing products at retail stores????

[Anonymous]

I am currently buying a new house.  I am considering financing some of the furniture that I need to buy along with a T.V.

The furniture store uses Wells Fargo and pulls Transunion and the electronics store uses HSBC.  My question is what effect would financing these items have on my credit? and, How hard is it to be approved for these items?

My scores are:

EQ 631

EX 652

TU 645

Any help would be greatly appreciated.

[sl]

I would not finance anything until after you close on your account.

[Anonymous]

Be careful and ask if those accounts fall under Consumer Finance. You might be better waiting and not buying anything on credit long term. Don't do anything before refinancing either way. Never seek new debt and always minimize debt before applying 3-4 months a head. General rule with mortgages.

[Tuscani]

DO NOT APPLY UNTIL YOU CLOSE.

[Anonymous]

Ok sounds good.  Any idea on what this will do to my credit long term?  I am assuming that at least at first it will report as if I am using the entire credit line.

[Tuscani]

I would not use a consumer finance company.. Shoot for a personal loan instead.

[Anonymous]

Close on your house loan first. Don't apply or seek any loan till the day after closing. Bank might fail to close if you take on further debt.

As far as store cards they report like credit cards. If you have a 3k limit and you charge 2.8k on it you are nearly maxed out (not good). Im going through this with a best buy account. 0% apr but still shows maxed out.

[MarineVietVet]

Locking the thread. The OP hasn't been online in over five years.