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| *Loan,banking and credit>>>credit score |
How much does paying monthly payments on furniture at a furniture store help your credit score? |
How much does paying monthly payments on furniture at a furniture store help your credit score? A lot. One of the first things lenders look for when they are looking at a loan application is 12 or more payments made as agreed on a installment loan. Furniture, cars, boats, homes and personal loans are all installment loans. Just be sure that they report to all three credit bureaus before you sign the contract. Source(s): Finance Manager for over 7-years. If you paying in time and more then minimum pmt, will give you a good rating. Every little bit helps It depends on whether or not they report to the credit bureaus! You raise your score by using credit and paying your minimum payments on time. If you are paying a high interest rate, get a 0% balance transfer VISA or MC or AMEX or DISCOVER, and transfer the furniture balance. they will definitely report to the credit bureaus, just make minimum payments on time until u can pay it off. You need to use credit to raise you score, otherwise they have nothing to base your score on. |
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