Does Snap-on Build Your Credit? Answered + Credit Programs Detailed

Short Answer: Financing through Snap-on Credit can help build your credit. Even if you have poor or nonexistent credit, vocational students and franchisees can participate in the tool-supply company’s CreditStart program. And, as long as you make on-time payments, participation in the program can help build or rebuild your credit. For more on Snap-on Credit, see below.

Does Snap-on Build Your Credit?

Tool-supply company Snap-on offers financing that can help you build or rebuild your credit as you purchase equipment and/or grow your franchise. Snap-on’s CreditStart program is designed to help those with poor or nonexistent credit histories. But, keep in mind, Snap-on Credit requires a “hard” credit inquiry when processing your application and it will report your payment activity to the major credit bureaus each month.

Snap-on Credit’s Extended Credit Programs

Snap-on Credit has three different “financing solutions” through its Extended Credit program.

  • The Platinum Program offers exclusive promotions, rates, and deferred payments to top franchisees.
  • The Shop Owner EC Program gives qualified shop owners six months same as cash, meaning you’ll pay 0% interest for six months.
  • CreditStart is designed for those with spotty or largely unestablished credit histories. By making timely payments, you can build or rebuild your credit.

Snap-on Credit customer service representatives said financing for vocational students and franchisees are handled directly by Snap-on Credit, whereas franchisees serve as intermediaries in arranging financing for Snap-on customers. We gathered this information by contacting Snap-on Credit at (877) 777-8455.

More Information

For more on how lenders report to the major credit bureaus, see our articles on lenders that only use TransUnion, lenders that only use Equifax, and credit cards that use Experian for approval.

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