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Established Contributor
Anderson
Posts: 716
Registered: ‎06-03-2007

0% non-reporting loan...convert to interest bearing?

Ok, I promise this will be my last question for a while (fingers crossed behind my back).
 
I had major expensive dental work done this past year at a Dental College. Root canals, crown-lengthening, crowns replaced, bridge replaced, etc. The fees at the dental college were about half compared to to having the work done by a ~real~ dentist. Of course the work was performed by dental students (under supervision of real dentists/instructors).
 
The Dental College offered their own financing. Once the treatment plan was finalized an estimate of costs was presented. I paid 40% upfront and the balance was financed for 2yrs interest free. Not a bad deal.
 
I still owe several thousand $. I have a perfect payment history.  The only downside is that this is not being reported to any of the CRAs.
 
My CRs currently only show revolving accounts. I'm thinking an installment TL might help round out my CR and boost my scores. Sound right?
 
The downside of getting an interest bearing loan is that I would of course have to pay interest.
 
1)- what's your opinion?
 
2)- who would be likely to finance my dental work?
 
As always,
Thanks
Established Contributor
FICO_Focused
Posts: 905
Registered: ‎05-09-2007

Re: 0% non-reporting loan...convert to interest bearing?

PLOC from your CU or Bank is the best way to get this taken care of... But why, oh why would you want to submit youself to hundreds even thousands in finance charges???
 
Reporting or not, 0% is 0%.
 
Rob
Established Contributor
Anderson
Posts: 716
Registered: ‎06-03-2007

Re: 0% non-reporting loan...convert to interest bearing?

Hi Rob. Don't want the finance charges. Just wondering if an installment TL on my CR would be worth paying the charges.
 
Thanks

FICO_Focused wrote:
PLOC from your CU or Bank is the best way to get this taken care of... But why, oh why would you want to submit youself to hundreds even thousands in finance charges???
 
Reporting or not, 0% is 0%.
 
Rob



Super Contributor
MidnightVoice
Posts: 8,154
Registered: ‎03-25-2007

Re: 0% non-reporting loan...convert to interest bearing?

Next time get a care credit card - we got 0% financing for a couple of years, and it reports  :smileyvery-happy:
The slide from grace is really more like gliding
And I've found the trick is not to stop the sliding
But to find a graceful way of staying slid
Established Contributor
Anderson
Posts: 716
Registered: ‎06-03-2007

Re: 0% non-reporting loan...convert to interest bearing?

First I've heard of that, I'll look into it. Thanks

MidnightVoice wrote:
Next time get a care credit card - we got 0% financing for a couple of years, and it reports  :smileyvery-happy:



Super Contributor
MidnightVoice
Posts: 8,154
Registered: ‎03-25-2007

Re: 0% non-reporting loan...convert to interest bearing?

I think it is GE.  probably carecredit.com  :smileyhappy:
The slide from grace is really more like gliding
And I've found the trick is not to stop the sliding
But to find a graceful way of staying slid

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