Where can I buy a TV on installment credit (to improve credit score)?

Question

I am looking to purchase a TV (or otherwise) on installment credit, as opposed to revolving credit, in order to improve my credit score.

Is this is a good idea?

Will it improve my credit?

What stores offer this type of financing (not simply credit card based financing)?

Answer 1

1. It is NOT a good idea. Generally, the places that sell electronics on installment are not going to report your account anyway...unless you miss a payment.

2. Since they won't report it, it won't improve your credit.

The best thing you can do right now is stay current on your car loan and your credit cards.

Pay down your credit card balances to under 35% utilization (or ask them to increase your limits).

Your FICO score is already good for someone your age. When you hit the 12 month mark of having established credit, your score will improve just from age. When you hit 24 months of established credit, your score will improve even further.

Time is on your side. You will probably be over 700 very soon.  

Answer 2

Very few - and not all report to the credit bureaus at all.  If building a credit history is your objective, get a credit card - even a secured card.