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I got a catalog and 'pre-approved' offer for Venue Card (Venue.com) which basically is an online 'luxury item' site (watches, computers, electronics, jewlery, etc.)
I could use a couple things on there but am wondering how they report.
For instace if I order $2k worth of items, will I then be reported as $2k Line $2k Balance which will affect my utilization poorly?
If this is not really a credit-card but more of a 'store card' will that help my mix at all?
If it IS a store card does it still report as revolving?
Anyone have experience with this?
Thanks. So how do charge cards get scored on your credit report? Do they give you a limit and if so is it part of your utilization or is it scored separately? I know Amex is *supposed* to be charge but seems to get mixed in all the time.
If it is charge that would be cool, the only concern would be the inquiry hit.
@Anonymous wrote:I got a catalog and 'pre-approved' offer for Venue Card (Venue.com) which basically is an online 'luxury item' site (watches, computers, electronics, jewlery, etc.)
I could use a couple things on there but am wondering how they report.
For instace if I order $2k worth of items, will I then be reported as $2k Line $2k Balance which will affect my utilization poorly?
If this is not really a credit-card but more of a 'store card' will that help my mix at all?
If it IS a store card does it still report as revolving?
Anyone have experience with this?
@Anonymous wrote:
yes, this card is very easy to get.....i have NO credit score because of inactive credit...least that what the bank said, and i got approved for $1,800 with this card..the card is thru World Financial Capitol Bank...granted the prices are a tad higher than going to a store with cash, but, it seems like a good way for me to work on my credit...these cards have a what i consider a high interest rate mine being the highest starting rate of 22.99%. the only catch to these cards is that its interest free for upto 18 months if approved for over $1,900, but the interest builds during that period, and if not paid by end of promo period, they add all that acrued intrest to your balance....so if u get this card, pay it off before the promo is up, and its all good....
Can you say Fingerhut?
Ahhh, thank you for explaining who/what Venue is - I'd spotted a soft from them on my EX report from a couple of months back. I suppose I probably received, and threw out without even looking at, the catalogue, which would explain why I had no idea who they are!