Considering a Peleton- 0% with Affirm

[2GreenThumbs]

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!

[Anonymous]

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

[Brian_Earl_Spilner]

It shows up as an installment loan

[wasCB14]

Is there a waiting list, or do they have inventory? For people with secure jobs, demand must be fairly high for home gym equipment.

[Anonymous]

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

[Anonymous]

I lean towards a CC with SUB and 0% as well, just never been a fan of those various payment plan Companies. 

[2GreenThumbs]

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!

[Anonymous]

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.

[wasCB14]

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@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.

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Consumer Finance Account aka Consumer Finance Loan.

[Anonymous]

Thanks