> I heard that the "no payments for a year" store offers > hurts your credit. You just confirmed it.
ANY new account opened on your credit report will hurt your score in the short term. Brings the average account age down and increases your debt used vs. debt available ratio, both of which will impact negatively on your score in the short term. As the debt is paid and the account ages the score will recover. The theory is that you just added a bunch of new debt to your account, so you're less likely to be able to shoulder even more in the short term, so the score goes down to reflect that. As you show that you can handle the additional load (by paying down the balance on time and aging the account) the score will go back up. -Justin ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Order the Adobe Coldfusion Anthology now! http://www.amazon.com/Adobe-Coldfusion-Anthology/dp/1430272155/?tag=houseoffusion Archive: http://www.houseoffusion.com/groups/cf-community/message.cfm/messageid:332980 Subscription: http://www.houseoffusion.com/groups/cf-community/subscribe.cfm Unsubscribe: http://www.houseoffusion.com/groups/cf-community/unsubscribe.cfm
