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
mjl61

1 Contribution
0 People Helped
Considering a Treadclimber? GET AN INSTALLMENT LOAN TO PAY FOR IT.
Just some friendly advice

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
1 Contribution
0 People Helped

Considering a Treadclimber?

Save yourself some credit score points and obtain financing for your Treadclimber before you buy. If you go through Nautilus/Bowflex with their own finaincing (they use Synchrony Bank), you end up with a revolving credit "card" account, and that hurts your usage percentage! I assumed (stupid!) it would be an installment type loan, but when I got the purchase confirmation it showed I had a "limit" (big red flag)... and when it hit my credit report it showed NINETY PERCENT USAGE  on a "credit card". All I got was the machine, no frills.  My credit score plunged about 70 points. I called Synchrony customer service and asked if it could be changed to an installment account, but they pretty much said "absolutely not". 

All of a sudden my rating is "Fair" instead of the very top of the "Good" scale, narrowing my options to secure an installment loan to pay off the "card". This just stinks, I now have to dig out, which could take months.  I should've asked. Shame on me. 

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.