Google Store Financing: Synchrony Card

[Absolution16]

I've been in need of purchasing a new smartphone for a while, and I have been eyeing the new Google Pixel 2 phones.  I see that they have a financing option, so I looked up on it, and these are my impressions as to how it works:

1. It looks to be just like any store credit cards, with a limit.

2. It requires a hard pull inquiry.

3. They have separate APRs for different types of purchases: 0% for 24 months on phones, 24.99% for other purchases.

Before I go ahead and apply for this, I'd like to see if anyone who has knowledge of this program to kindly answer a few questions I have:

1. Does this account show up on your credit report as a tradeline?

2. If so, how does this tradeline show up as?  Would it look like a regular store credit card or would it look more like a loan?

3. Based on a few comments I have dug up in the internet, it seems as though the initial credit limit given is usually in the 1k-2k zone. Considering that a phone purchase could be close to 1k, how would that affect your credit if given just enough limit to cover the cost of the phone?  Would the high credit usage from this tradeline be harmful in the short term?

Thank you in advance.  This community is very awesome!

[kilroy8]

Hi. This isn't related to your credit question, but I have seen articles about problems with the new Pixel phones. I expect their price will drop accordingly. You might want to wait a bit and see.

[Absolution16]

Thank you for your input.

Off topic, but yeah, I have also read and viewed extensive articles and videos about the display problems on the 2 XL models.  I am not wanting to do this immediately, but I am definitely keeping up to date on the issues and how Google would address them.

[Anonymous]

1. Correct, can only be used in the Google store.

2. Hard Pull for app. SP for CLIs like most of Sync cards. 

3. Only useful for financing large purchases such as phone or Pixelbooks at 0%. Otherwise, pay in full if you're charging something small from the Google Store.

1. Reports to all three.

2. Revolving credit line. 

3. My starting limit was low, I believe it was 1K. It is now at 10K. It is one of my harder Synchrony cards to grow. It's right there with my Amazon card that stays at 10K. You would be overutilized as you'd be using about 80%  or more of your credit line. If you're not going to be seeking any credit, not as big deal as you will eventually pay it down.