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General Experience - How do furniture stores report?

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General Experience - How do furniture stores report?

I recently posted a quesion about interest free financing at places like Raymour and Ashley, and was alerted about the risk of it appearing as a CFA.  I was curious what experience people had with this?  Assuming you don't get the credit card, do things report as a Consumer Finance Account or as a Line of Credit?


Several years ago I had a purchase at raymour that was deferred interest for 3 years...I paid it off and it never reported the account at all.  I would imagine at lot has changed since then though.  I don't know who backs their card, but I know Genesis is the 2nd look option.  Anyway, curious to hear what experiences people have had.

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Re: General Experience - How do furniture stores report?

I don't know how that particular company works.  But yes, if you are buying furniture on a plan, or a big screen TV, or a washer/dryer, or whatever -- you should expect that it will report as a CFA for the time it is open and then ten years thereafter, harming your scores during that time.  If you feel comfortable with your score being hurt for 13 years, then do it.  Otherwise buy it using a 0% major credit card. 


Or a person could do it the way people did in the olden days, which is to not buy the thing until he had saved the money for it.

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