Store financing

[Ahava18]

Hi,

I'm considering making a large purchase at a retailer that offers financing which I'm considering to apply for.

Do store financing plans get reported to the CB? And, if it does, what happens if I return my purchase does it get reported as a paid off loan?

Thanks 

[pizzadude]

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@Ahava18 wrote:

Hi,

I'm considering making a large purchase at a retailer that offers financing which I'm considering to apply for.

Do store financing plans get reported to the CB? And, if it does, what happens if I return my purchase does it get reported as a paid off loan?

Thanks 

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Typically yes, the account will show on your credit reports.   Some store accounts will show as a revolving account while others may be a fixed  installment term / amount, it really depends on the creditor so if you can share their name it will help others chime in with specifics.

[SouthJamaica]

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@Ahava18 wrote:

Hi,

I'm considering making a large purchase at a retailer that offers financing which I'm considering to apply for.

Do store financing plans get reported to the CB? And, if it does, what happens if I return my purchase does it get reported as a paid off loan?

Thanks 

---

I don't recommend store financing, even though the terms may be very attractive, because it seems to get reported as a "CFA" (consumer finance account), which seems to be slightly negative in your credit reports.

[Ahava18]

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@pizzadude wrote: 

it really depends on the creditor so if you can share their name it will help others chime in with specifics.

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Apple

[pizzadude]

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@Ahava18 wrote:

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@pizzadude wrote: 

it really depends on the creditor so if you can share their name it will help others chime in with specifics.

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Apple

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Apple Pay Later ?  Or Apple Card ?

https://www.apple.com/shop/browse/financing

[CorpCrMgr1]

Is the retailer a national chain, regional, or a one of? That can make a difference in reporting or not.