Interest free monthly instalment payment

Animeal

I’m hoping someone can give me some advice on this. If I was to purchase an item from an online store in three monthly instalments with no interest, and successfully make all three payments, is this going to negatively affect my credit score?


If so, does anyone know to what degree this would be and how long would it stay on my report?

[Deleted User]

If you keep to the terms of the agreement, then the information on your report won't be viewed negatively.

However, it is possible that the value of the additional credit could cause lenders to view you as higher risk, depending on your income and existing credit.

It will stay on your report for 6 years.

Animeal

Thank you zx81. So in such a case with respect to future lenders, would it be better for the purchase to be small or large?

glentoran99

It doesnt matter as long as you pay it off, on time and in full

Cycrow

It may not even go into your credit file.

Most of these are not really loans at all, they just take multiple payments from your credit/debit card

when i got something split over 3 months it didn't appear on my credit file at all