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@Anonymous wrote:
Why would furniture financing be more damaging? It's more practical than financing a tv or a computer, just as expensive, and I'd say more important. I don't get it.
Because furniture financing is considered last resort financing, and is looked upon as a poor source of credit. Secondly, they probably approve your credit limit equal to your bed purchase or only slightly more, which gives you a very high utilization rate.
Here are some articles, but you can find many more:
https://www.nerdwallet.com/blog/credit-cards/furniture-store-credit-card-bad-idea/
http://www.moneymanifesto.com/should-you-take-0-financing-on-furniture-6035/
I have to disagree with the statement furniture financing looks bad on your credit comment, I have several furniture cards and my scores are high, It all depends on how they "code" the tradeline, for instance, (consumer finance account) or (banks) under the industry section of your tradeline in your credit bureau report. I would think the recently opened account along with inquires would lower your score more than using a store charge to buy furniture with. Just utilize what you have up to this point, give it about 12 months, and you can have any card your heart desires. I know its hard to keep control when you get approved left and right for credit cards, but patience will prevail in the end, best of luck, and dont worry about financing furniture, just pay it on time, and it will report just like all your other cards. Best of luck!!