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I haven't bought anything like this in years, but being locked at home makes me think I need to up my exercise game. I'm usually a runner, but the knees are slowly going and I've been considering a bike for some time.
Right now Peleton has 0% interest and I'd like to take advantage of it but I don't know how this affects my credit? I mean, I know they'll report payment history, but is it considered a credit card? Does it affect my 5/24?
Just wondering if anyone can share any info. Thanks!
Some data indicates it could show up as a CFA, which isn't good.
Do you really want a peleton? Could 0% it and get some cash back with a new card, which'll affect your score probably less adversely than Affirm.
https://ficoforums.myfico.com/t5/Credit-Cards/Affirm-0-offer-should-I-take-it/td-p/5310801
It shows up as an installment loan
Is there a waiting list, or do they have inventory? For people with secure jobs, demand must be fairly high for home gym equipment.
Look for a new credit card with a sign up bonus AND 0% for however many months, and you might just get a few hundred bucks off of the purchase while you're at it
I lean towards a CC with SUB and 0% as well, just never been a fan of those various payment plan Companies.
I just saw the responses on here! Thanks for your input. I ended up not getting one because my parents offered to buy me a treadmill!
What is a CFA in this context? I have used Affirm extensively in the past. I have a lot of them paid off now, though.
@Anonymous wrote:What is a CFA in this context? I have used Affirm extensively in the past. I have a lot of them paid off now, though.
Consumer Finance Account aka Consumer Finance Loan.
Thanks