Would this loan help me establish credit?

[Anonymous]

Hey everyone. I have a quick question. My parents were looking to buy a new bed for themselves from Ashley's Furniture. The bed is 1500 dollars I believe but Ashley's is doing something where you can finance the bed for $25 per month for 5 years with no interest. I have been told that different kinds of acounts help your credit score. All I have so far is 6 months as an AU on a Best Buy VISA and I got my own Amex for a 1k limit last month that hasnt been reported yet. My FICO score via the Amex app is 704 (last updated 4/11/18) and my Vantage score frem Credit Karma is 729 (updated a few days ago).... So my questions are...  What are my approval odds from Ashley's Furniture with my score/history. And would it be good to put it under my name this way my score shows different types of accounts? Would it hurt my overall credit score or make lenders think I have too much debt? Does it go against my UTL? Also, I am looking to apply for a Chase card in a few months. Would that be considered 1 under their 5/24 rule since its a new account? Any help is great appreciated! Thanks!

[HeavenOhio]

If it's a credit card, the balance and the limit would be factored into your utilization. The danger here is that if the limit is low, your score will be hit because of high utilization on that card.

If it's a loan, the revolving portion of your score would be unaffected, but you may be subject to a ding for having a "consumer finance account" on your report. That would depend on who's issuing the loan.