Applied today. I got, You will be contacted in 7 to 10 business days. Is this a bad thing?
Exactly. No interest for one year.I did the same thing at my lbs to purchase my Felt. Its just an underwriting bank who could care less what you buy. The reason I got it was for 12months free financing. Why shell out cash when I can borrow $$ interest-free for 12 months?
Sent from my mountain bike while crashing
I hope I don't get denied.That usually pops up when something in their instant approval process doesn't match (you move recently or something like that) or if they are denying you. If everything is a match then you get an instant approval.
I'm not saying you were rejected. There are definitely cases when the 7-10 day thing pops up and people get approved, in those cases the bank Trek uses wants more time. However, they also say that if they are going to deny you.
That's the main reason I'm getting this loan. I need to boost my credit score. I can pay this thing off easy within one year.Never financed a bike, but I'll sometimes use those interest free store cards just to build up credit.
I used one to buy a TV a while back. Had cash in my pocket, but did the 12 month interest free card so I could get the credit rating boost.
I'm with the others though. If you don't have the money right now...I wouldn't do it. It's just a bike.