Should I BT or Open New Account?

[dragontears]

@10022016 wrote:

Can someone further elaborate on the following comment I found online? And what is TD Bank? 

"Be careful - Samsung Financing aka TD Bank is considered a CFA (Consumer Finance Account) which is cancer to your Credit Report. Govern your options very very accordingly..."

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CFA are the molehill that some on myFico try to make into a mountain by acting like it is the worse thing that can happen to your credit. I have a CFA and all of my scores are north of 800.

I have no experience with Samsung financing but I was under the impression that it was a revolving account not an installment. If it is revolving than it will not be a CFA as CFA are only installment accounts. 

[FinStar]

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@10022016 wrote:

Can someone further elaborate on the following comment I found online? And what is TD Bank? 

"Be careful - Samsung Financing aka TD Bank is considered a CFA (Consumer Finance Account) which is cancer to your Credit Report. Govern your options very very accordingly..."

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TD Bank = Toronto-Dominion Bank. 

https://www.tdbank.com/aboutus/company_fact_sheet.html

Below is a synopsis:

Top 10 bank in the U.S.  They are a member of TD Bank Group (subsidiary of Toronto-Dominion Bank of Toronto, Canada). They have a predominant presence in the NE, Mid-Atlantic, DC, etc. They offer a variety of lending products that include the Target RedCard, Nordstrom credit card, their own core productss, plus several private label or retail financing products, such as the Samsung Financing account.

[Horseshoez]

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@10022016 wrote:

Can someone further elaborate on the following comment I found online? And what is TD Bank? 

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As stated above, TDBank stands for Toronto Dominion Bank; they are really popular here in New England and throughout much of the north eastern part of the country.  I've been a TDBank customer with a credit card and numerous accounts with them and couldn't be happier; easily the most convenient bank I've ever worked with.

[10022016]

Ah, if I'm going to get a toy, I'd rather update to a RTX 3000 series if I could get my hands on one and update my monitor to a 4K, HDR, miniLED, widescreen. 

[Gollum]

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@10022016 wrote:

Ah, if I'm going to get a toy, I'd rather update to a RTX 3000 series if I could get my hands on one and update my monitor to a 4K, HDR, miniLED, widescreen. 

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If this is still about a smartphone, do an Internet search for "Pixel 5a"

[10022016]

I'm happy with my Galaxy Note 10+. Good thing I wasn't tempted to pull the trigger on Samsung's current flagship phone as the latest GPU and highest quality monitor is more meaningfull to me since my phone is acceptable.

[10022016]

Nmad! They just offered me an additional 5% off; Samsung is relentless! Also, I could use Affirm which isn't even a hardpull! This is getting tempting! What do you think you all?

I took the bait you all...my god. But I couldn't use Affirm because I locked everything.

[FinStar]

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@10022016 wrote:

Nmad! They just offered me an additional 5% off; Samsung is relentless! Also, I could use Affirm which isn't even a hardpull! This is getting tempting! What do you think you all?

I took the bait you all...my god. But I couldn't use Affirm because I locked everything.

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So, did you get approved for Samsung Financing or are you still considering your options @10022016?

[Brian_Earl_Spilner]

Finances before ficos. Don't care if it's a CFA, if it's 0%, I'm taking it.

[10022016]

I couldn't use anything because the credit report is all locked. I took the bait and just paid for it; the extra 5% off was too enticing and the toy in itself. I'm going to get out more often now to justify this purchase becuase being house bound with this toy is silly.

Oh, and I wouldn't apply for Samsung Financing because I won't risk it if they're only open a low SL, covering maybe up to 50% of the cost, making it not a worthwhile hardpull.