Is anyone familiar with ScratchPay?

MileHigh96 · ‎12-07-2023

Does anyone know anything about how this reports? Scratchpay (https://scratchpay.com) is a way to finance vet bills and I have a rather large one coming up in the $1500 to $2000 range. And right now, I don't have any cards offering 0% interest while ScratchPay is offering 0% if it's paid off in 6 months. But, I'm wondering if this will report as a CFA on my report which I definitely DO NOT want. I'd rather put it on a card and pay a little bit of interest over 6 months than add a CFA ding to my report on top of everything else.

And just to add, I burned Synchrony in my BK7, so getting a Care Credit card is a no-go even though it's been close to 2-1/2 years. Last time I checked the pre-approval tool, they still deny me citing past relationship with Synchrony.

So does anyone know anything about this company? TIA!

BK7 discharged - 06JUL2021
Loans:

Revolving Accounts (in the order they were opened):

Ally Everyday Cash Back Mastercard (converted from Ollo Platinum Rewards Mastercard) $4800 CL (opened 7/21/21)

Mercury Mastercard $4360 CL (opened 7/23/21)

Upgrade Triple Cash Rewards Visa Card $17,500 LOC (opened 8/4/21)

PenFed Pathfinder Rewards $6000 CL (opened 11/9/21)

Dell Pay Credit (converted from Dell Financial Services account) $6500 CL (opened 12/6/21)

Capital One Kohls Visa (converted from Kohls store card) $4050 CL (opened 12/13/21)

Upgrade Cash Rewards Visa Card $7,000 LOC (opened 3/17/22)

Capital One Quicksilver MC (PC'd from a Platinum card) $3200 CL (opened 5/6/22)

Capital One Savor One MC $5000 CL (opened 10/20/22)

Merrick Bank Double Your Line MC $2500 CL (opened 11/1/22)

NFCU cashRewards Plus $36000 CL (opened 3/17/23)

Affinity FCU Pure Rewards Visa $1500 CL (opened 5/18/23)

Bread Cashback AmEx $12500 CL (opened 5/23/23)

Canvas CU Platinum Elite MC $3000 CL (opened 5/25/23)

NFCU Go Rewards Visa $27000 CL (opened 6/16/23)

Petco Pay Mastercard $5100 CL (opened 6/29/23)

My GM Rewards Card Mastercard $5500 CL (opened 8/1/23)

Denver Broncos Extra Point Visa $9500 CL (opened 12/8/23)

NFCU More Rewards AmEx $17000 CL (opened 2/8/24)

Ally Unlimited Cash Back Mastercard $3000 CL (opened 4/3/24)

Service Credit Union Everyday Visa $2500 CL (opened 8/19/24)

BECU Cash Back Visa $16000 CL (opened 8/21/24)

Closed accounts:

Mission Lane Visa - first starter card after discharge (opened 7/7/21 - closed 4/1/23)

Capital One Quicksilver MC (downgraded from a Walmart Rewards MC and transfered CL to older QS card) (opened 11/4/22 - closed 04/09/25)

Best Egg Visa (opened 05/17/22 - closed 04/14/25)

0/6, 0/12, 5/24 new accounts
TCL: $168.5K

JoeRockhead · ‎12-07-2023

Considering there's no actual card, and they're considered a short term loan, much the same way Affirm is, there is a very high probability it would be classified and reported as a CFA.

ForwardLooking · ‎12-07-2023

I would look for a 0% card first if interest is your issue. There are plenty out there with 0% offers from 9 to 18 months. I was able to get a one even though I had some bad payment history and charge offs in the past.