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    • moneyshoe
    • By moneyshoe 10th Nov 18, 10:40 AM
    • 94Posts
    • 45Thanks
    Does Ikea credit damage credit rating
    • #1
    • 10th Nov 18, 10:40 AM
    Does Ikea credit damage credit rating 10th Nov 18 at 10:40 AM
    Hi, were about to buy a new sofa from Ikea. We have an excellent credit rating and not had any new credit for six months when I took out a new card. Wed like to take advantage of the 0% interest and stooze but my husband thinks this kind of borrowing would damage our rating. Is this true?
    Earn 2015 in 2015: 13:33/2015
Page 1
    • molerat
    • By molerat 10th Nov 18, 10:46 AM
    • 20,405 Posts
    • 14,701 Thanks
    • #2
    • 10th Nov 18, 10:46 AM
    • #2
    • 10th Nov 18, 10:46 AM
    Your "credit rating" is a work of fiction so ignore. Taking on or closing any line of credit is likely to negatively affect that fictitious number, any change does that, but any correctly managed credit, outside of short term pay day loans, will likely enhance your file providing you are not overextending yourself.
    • Yooks
    • By Yooks 10th Nov 18, 10:49 AM
    • 8 Posts
    • 5 Thanks
    • #3
    • 10th Nov 18, 10:49 AM
    • #3
    • 10th Nov 18, 10:49 AM
    Your fun credit score will flutuacte over anything. Getting a new line of credit will not effect you negativily at all unless you dont manage the credit well i.e missing payments. apart from that it is likely your score will drop for a few months. Lenders do not see this score and having credit does not generally come across as negative to lenders. You will be fine! Enjoy your new sofa
    Last edited by Yooks; 10-11-2018 at 10:52 AM.
    • Craig1981
    • By Craig1981 11th Nov 18, 6:34 AM
    • 726 Posts
    • 369 Thanks
    • #4
    • 11th Nov 18, 6:34 AM
    • #4
    • 11th Nov 18, 6:34 AM
    agreed with the above - credit is better than no credit, provided you using it sensibly.

    a lot of people take advantage of 0% balance transfers, purchase cards etc, so this would be no different than that

    its the history creditors want to see, not your rating or your score
    • sourcrates
    • By sourcrates 11th Nov 18, 12:27 PM
    • 16,743 Posts
    • 15,805 Thanks
    • #5
    • 11th Nov 18, 12:27 PM
    • #5
    • 11th Nov 18, 12:27 PM
    Whilst the above posts are technically correct, the credit score that does matter, is the credit score you never see, that is the one generated by potential lenders when you apply for credit, to see if you match their criteria for lending.

    The score that credit reference agencies generate are used as a marketing tool to try to sell you credit improvement products, they are fairly meaningless as the CRA`s are not lenders, and should not be relied upon as a serious indication of your credit worthiness.

    You may not pass muster with some creditors if you had evidence of payday loan lending on your credit file, other than that, credit is credit, and as long as it was repaid in accordance with your agreement, it will only reflect positively on you.
    Last edited by sourcrates; 11-11-2018 at 12:29 PM.
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