topic Re: Pay off financed furniture after only 3 months? in Rebuilding Your Credit

Pay off financed furniture after only 3 months?

Anonymous — Tue, 24 May 2016 18:21:47 GMT

Hi all. I financed $2300 in Furniture 3 months ago with the intention of rebuilding my credit. It's one of those 6 months same as cash, or otherwise pay 27% interest if it's not paid to 0. Will I still have a good credit impact if I pay the balance to 0 this month? It would be my 4th payment that brings it to a 0 balance. The second part of my question is is there any reason I should bring it all the way to the 6th month before i pay to 0?

Thanks everyone.

Re: Pay off financed furniture after only 3 months?

Anonymous — Tue, 24 May 2016 19:04:56 GMT

@Anonymous wrote:
Hi all. I financed $2300 in Furniture 3 months ago with the intention of rebuilding my credit. It's one of those 6 months same as cash, or otherwise pay 27% interest if it's not paid to 0. Will I still have a good credit impact if I pay the balance to 0 this month? It would be my 4th payment that brings it to a 0 balance. The second part of my question is is there any reason I should bring it all the way to the 6th month before i pay to 0?

Thanks everyone.

3 months or 6 months really makes little difference. I would use their money free of interest for as long as possible...

Re: Pay off financed furniture after only 3 months?

RonM21 — Tue, 24 May 2016 23:52:19 GMT

There really shouldn't be much of a difference.

Re: Pay off financed furniture after only 3 months?

Anonymous — Wed, 25 May 2016 00:19:29 GMT

I agree with the others. It won't make a difference. If you have the money, just pay it and get it out of the way.

Re: Pay off financed furniture after only 3 months?

Anonymous — Wed, 25 May 2016 15:06:39 GMT

3 months of timely payment is good and if u pay it off would be good too to show account balance is zero just make sure it's paid off before the end of promotional period most of those have deferred interest meaning if 6th statement isn't paid to zero they will put in 27% for whole amount loaned to u for pass 6 months if not paid they will tack on about 350 in interest