Credit Advice

Have a question? Have advice to share? The combined knowledge and experience of everyone in the Credit Karma community can help you. Enter your question or help others below to get started!

Question

Posted in Credit Scores
Profile Image

Question By
kelticladi

2 Contributions
2 People Helped
Buy outright or store credit?
I am trying to build my credit file, at the moment it is very thin with only 4 accounts listed and 3 of them are closed (in good standing.) I need a new couch and have 2 options of the way to go. Either I can buy one outright which is ok but not exactly what I want, or I can spend a little more, get the one I really like and do it with store credit. Given I am trying to build my score, which is the better way to go?

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW
All Responses

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next
Top Contributor
740 Contributions
796 People Helped
Most Helpful Response

Helpful to 1 out of 1 people

if you shop at the store ever few months then a store card but to get a store card for a one time purchase on a card you will probably never use again DON'T do it.... According to the info you provided you only have 1 open credit line you need a minimum of 2 to maximize score...Do you have a credit card? if not get one i'd reccomend Capital one's Quicksilver One Mastercard 1.5% cashback on all purchases unlimited cashback rewards and while it comes with a $39 annual fee as long as you spend $2600 per year on it the cashback will pay for the annual fee...just remember pay the bill when it comes in and keep utilization below 20% this may require multiple payments a month depending on credit line but worth it for a 30point boost in credit score minimum within 6 months 

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW

Reply to this Question

Write your response:
Enter Your Comments

The Credit Advice pages of the Site may contain messages submitted by users over whom Credit Karma has no control. Credit Karma cannot guarantee the accuracy, integrity or quality of any such messages. Some users may post messages that are misleading, untrue or offensive. You must bear all risk associated with your use of the Credit Advice pages and should not rely on messages in making (or refraining from making) any specific financial or other decisions.