Financing hardware through waterboxaquariums.

[Silver14SS]

A high credit score is not a good thing either. All it means is that you are profitable for the banks.

No, it means you are a good risk for a lender. You can have an 800+ score and payoff credit cards monthly and accrue no interest. Same with 0% installments.

That is why some credit card companies will penalize you for buying tires at walmart and paying it off early. Think about that.

Penalize you how? If you charge something and pay it off, there's no interest, nor other fees. Please provide evidence of this.

All banking is a money from nothing scheme that is bad for the economy, that is why they are regulated by the "fed".

Fo sho, we should totally move to a barter economy.

I am not in finance

You have made that abundantly clear.

TLDR to the rest, but not only is this terribly off topic to OPs question, most of it is flat out incorrect.

 

[tupes]

True, but I read as the OP asking if anyone had any experience with the finance company, not pros and cons of whether he should finance the lights. Either way, I should have probably stayed on topic.

The pros and cons come when these questions are asked.

I dont want to cough up the money all up front and would like to finance, is this a good option? or should I avoid doing this? I

 

[TheGreatWave]

No, it means you are a good risk for a lender. You can have an 800+ score and payoff credit cards monthly and accrue no interest. Same with 0% installments.



Penalize you how? If you charge something and pay it off, there's no interest, nor other fees. Please provide evidence of this.



Fo sho, we should totally move to a barter economy.



You have made that abundantly clear.

TLDR to the rest, but not only is this terribly off topic to OPs question, most of it is flat out incorrect.

This response is totally expected, no offense taken. It's not worth addressing your retorts individually. I offered you first hand accounts from my experiences questioning a couple of very interesting people that pull your strings.

I worded my response with reasonable care to avoid all but the most unreasonable.

"good risk" indeed. Who is more profitable? They guy with a lot of debt who pays his bills on time every month, or the kid with the low "score" who gets their cell phone cut off for non-payment? Sure you will have banks competing for your debt.

The credit "score" they tell you isn't even the same number they tell the lenders.

You can can google all of this yourself except for the people I have met obviously. Or just break out a calculator to avoid going down a foxhole because that is all I need to defend this POV is Math.
You are responsible for your own due diligence. It would be naive to think this is on your banks home page, but the information is out there and factual. A lot of people work and are trained for that industry, it's not a secret. I know that most people are not going to acknowledge this reality or change, so you have no quarter with me.

This was worth posting for someone who might use it, not to agitate anyone.

 

[Silver14SS]

Credit scoring is a model used to determine credit worthiness, not profitability. "A credit score is a 3-digit number that reflects the likelihood that a consumer will repay his debts." Debt.org

Subprime borrowers are more profitable than those with higher credit scores as they are typically charged a higher rate and default more often.

If a response is typical, have you considered that it is typical because it's common sense and correct?

Anecdotal examples are far from proof. The burden of proof lies with the one making claims. Instead of saying all you need to prove it is math, just post the proof. I don't know what math will prove the fed is out to get ya, but whatever floats your tinfoil boat.

FWIW, I don't work for a bank, but I have borrowed money.

 

[TheGreatWave]

The Big Credit Score Scam I have no dog in your fight, this is all public knowledge.

It's made to be hard to understand, that is why some of the major points / rewards /travel cards are actually credit bureaus in disguise. Really clever if you ask me. Very sly.

 

[Silver14SS]

Link is about credit reporting companies, not lenders, is that the right link? I didn't see anything in that link about penalties for early payment, banking being a money from nothing scheme, market manipulation by shadow lizard people pooling millions of $ together, or any of the other claims you've made.

Linking to for profit debt consolidation attorneys (in another country no less) to support your previous claims seems like you're intentionally not providing proof of the things you've claimed. It's ok to say it's just your personal feelings and not fact . Nobody will hold it against you if you take your money and buy gold to bury in the backyard.

My apologies for the links being from "the man" but if you'd like to learn more about credit reporting

Learn about your credit report and how to get a copy | USAGov

Find the official place to get a free credit report. See what information is in a credit report and how lenders and other organizations may use them.

www.usa.gov

Fair Credit Reporting Act

The official website of the Federal Trade Commission, protecting America’s consumers for over 100 years.

www.ftc.gov

 

[TheGreatWave]

Here is a link to the lizard people. ScotiaMcleod They also own one of the oldest banks in Canada now.

I will not disclose the rewards card on account of privacy for a customer, but I promise you have heard if it, it is "the" card in Canada, the Netherlands and the Middle East with probably tens of millions of users. You can hardly go through a day without someone asking you at check out, do you collect *** ****. There would be no point in trying to describe how wealthy this individual(s) is, I hate that. These people don't live like rap videos but you see power when they drop a half mil on a yoga studio, tucked back behind a tennis court, tucked back behind a cottage, tucked into a 800 acre private lake community. That is a lot of money to do 2 hours of squats per summer.
I'm not second hand bragging, I'm saying there are a lot of people who are full time working money.

I don't necessarily need to give you a link, you can ask your bank what happens if you pay off your house early without having that negotiated in the mortgage first. BIG difference between a open and closed loan. There you have it, I'm not making anything up. Take this new term you learned and apply it to all the other banks, et al. They want your money, one way or another they will punish you if you agree to give them profit then don't.

To think they care if you make it to the Bahamas and back is naive. They are judging you for profitability based on your spending habits. Spending cash with a points card gives your lender information about you. If you buy a lot of ropes, alcohol and anti depressants, don't be surprised if they are hesitant to give you a loan.

I think you get my position so I will leave it at that. Feel free to reply, I won't be offended.

 

[Loggerhead]

The pros and cons come when these questions are asked.

I’m having difficulty quoting on my phone. Post 11 the OP states he is just trying to find out if bread is a reputable finance source. Also mentions something like that in post 4. That is the reason I originally quoted AZMSGT.

Anyway, this thread seems to have gone way off topic. My final answer is never used bread, have used affirm successfully with no issues or having it negatively affecting my credit. My wife does mortgage loans for a living out of four states and knows what to look for on our scores. If the OP is concerned that it may affect his credit score more than he is about getting the lights then he shouldn’t use them. If his credit is good enough that it won’t matter how a small amount on a short term loan looks, if it is even a concern, then he can. Really up to him on his own use of credit.

 

[Doctorgori]

...yeah obviously sometimes using OPM is the smart bet.... I wouldn't withdraw $250K that's making 10% when someone offers me a mortgage for $250K @ 3% ....
.....I personally run from anything near 19% ....been there done that .....argh

 

[McPuff]

I'd just buy it outright with your credit card that provides cash back or miles, then pay it off once the balance is due. If money is not an issue then I see no reason to use a payment plan... especially if it may in some way affect your credit score.

 

[LobsterOfJustice]

Wife and I both use 0% interest promotions with extended payment plans for tons of purchases. It just helps with reconciling the budget to pay off an expense over months. We could pay it in one month but it would mean we could spend less money elsewhere so might as well take the option. We both have credit scores over 800 so I don’t think this is detrimental to your credit.

We never carry a balance on credit cards, always pay off promotions before end of period, and never use financing that would require we pay interest.

 

[ca1ore]

Finance houses and cars ….. but not hobbies. Seems like a good way to the poorhouse.