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.