How does 0% same as cash report?

[Anonymous]

I am starting up an embroidery business.  My local Brother machine dealer had 0% same as cash for 60 months through Synchrony.  I was approved for my purchase but he didn't tell me the approval amount, just that I would get my letter and credit card in the mail.  TU was pulled.

How will this report on my credit?  As a secured loan - which is how my new appliances from Conn's  reported a year ago - or as a credit card with high utilization?? 

[Kutuzov]

Probably an installment loan but it depends on whatever you signed.

[taxi818]

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@Anonymous wrote:

I am starting up an embroidery business.  My local Brother machine dealer had 0% same as cash for 60 months through Synchrony.  I was approved for my purchase but he didn't tell me the approval amount, just that I would get my letter and credit card in the mail.  TU was pulled.

How will this report on my credit?  As a secured loan - which is how my new appliances from Conn's  reported a year ago - or as a credit card with high utilization?? 

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It will report like amy other credit card of course. The percentage you pay or not has nothing to do with it period. If you have low limit and used most of it for the purchase of course it will report high utilization. The 0% is simply saying you pay no interest if you pay it off in 60 months. 5 years. Nothing else. and they don't report that.

[taxi818]

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@Kutuzov wrote:
Probably an installment loan but it depends on whatever you signed.

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Not installment loan when the dealer told them they would get credit card in the mail.

[Kutuzov]

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@taxi818 wrote:

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@Kutuzov wrote:
Probably an installment loan but it depends on whatever you signed.

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Not installment loan when the dealer told them they would get credit card in the mail.

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I need to go night night I guess ...

[Anonymous]

I am getting conflicting info from 2 different stores. I don't think the first guy knew what he was talking about. I have to call Synchrony in the morning. The 2ND shop was $1100 cheaper and more freebies.  This shop said Synchrony approves the purchase as in store financing which is why the other guy couldn't tell me a limit.  I also have to make sure he didn't actually charge me and only got the approval. I was given a heads up that some run the approval the way it should be and some run it through as an actual charge trying to force the deal.  That won't make me very happy because I haven't decided on which machine I am buying.

[steel_string]

Actually, it sounds like it's probably a charge card instead of a credit card. Sales people often don't know the difference when explaining this stuff.

[takeshi74]

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@Anonymous wrote:

I am getting conflicting info from 2 different stores.

As stated above, don't expect people in the stores to know.  You'd be better off contacting the creditor.