Date: Sun, 4 Apr 2004 18:29:07 CST
Subject: Re:  Same as cash financing and credit score...
From: "John A. Weeks III" 
Newsgroups: misc.invest.financial-plan
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In article <2ef9b043.0404040804.5aa0967c@posting.google.com>, Xao
 wrote:

> 1) What would be the credit score range (I'm working on rebuilding
> credit, I'm at 595 now) to get these "same as cash" financing deals at
> places like Best Buy, CC, furniture stores, etc...

Call them and ask.  They might not even use FICO scores.  Some have
their own credit decision software.  I would think that getting into
the lower to mid 600's would do the trick.

> 2) How does this affect your credit score?  Does it lower it because
> you're not paying interest, or will it help showing that you paid on
> time....

Paying interest doesn't affect your credit score.  Properly handling
a new credit line does improve your score by paying on-time over time.
Getting and using more credit will lower your score since you have
more credit in use compared to the same income level.  Once you have
the credit paid off, it will help your score since you now have a
lower ratio of used credit to available credit.

The biggest help for your score is time and good behavior (ie, paying
your bills on time).

-john-

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John A. Weeks III            952-432-2708         john@johnweeks.com
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