Quote Originally Posted by Infsub View Post
Thanks for all the replies.

I am not aware of afterpay hurting your credit rating. It is just like lay-by. Big w. Office works kmart all use it even the other Australian guitar kit supplier uses it. (nimble is a pay day lender and yeah you will get in trouble there pretty quick)

It is not about save up etc it is about 50 a fortnight instead of 200 plus up front that the minister for war and finance whines about . Haha.

I have never spent just 200 on a guitar here. I get the kit and replace the hardware and put in Duncan's or dimarzios, add to that the finishes etc and I doubt any guitar I have finished came in under 500.

I have used afterpay and zip money and can still get home and car loans never been an issue.

I purchased 7 guitars from pitbull in last 12 months... If afterpay was an option that number would at least be double.
Things have tightened up a lot in past 3 - 6 months. The frequency of enquiries on a customer's credit file affects their score which is a number between 1 & 1200. Somewhere north of 600 is preferred whilst 400 or under will be declined by most mainstream rate acceptable lenders.
For those who don't care about high rates there are some players in the market who may consider low scoring applicants.
Earlier this month I had an application kicked to the kerb due to a dim view of a deal with a recent Zip Money enquiry on the credit file. There may have been other factors too but not the first time that type of enquiry on credit file has tripped things up.
After Pay looks like it would generate credit enquiry and therefore not a genuine layby type transaction.
Bottom line is where anything requires a credit report, it remains there for 5 years and when there is a cluster of enquiries it can downgrade credit score.
People need to be more aware how easily this can now impact their credit score.

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