haulingthescoreup wrote:
That seems surprising to me, because I thought that it was required: if a lender uses the shared info from the credit bureaus, they're supposed to report their experiences back.
I bought furniture last year and used their financing. They pulled EQ, big fat ding on my CR. They didn't report anywhere and had no intentions of doing so. I had to call them and beg them to report this TL as I was trying to re-establish credit. Well they finally began reporting, again on EQ. Turns out they are considered to be a FINANCE COMPANY - big fat NO NO on your credit report. My EQ score has never been anywhere equal to the other two since then. Now, I wish I'd have never pushed the issue.
I just got two new cell phones and they did an inquiry. Guarantee you that this payment history won't report either unless I were to go into collections with the account. My current landlord checked my EQ report before I signed the lease. She doesn't report any of my timely lease payments at all.
It would be nice if all companies - CC, utility, furniture, leasing agents, etc. - who ding our CR's reported our history as well but it's not always the case. I don't think it's a requirement.
As for the Revolution card, I really like the idea. Finally there's credit that you can actually use without being penalized by FICO for using it. Granted it's not friendly to those who need to establish/re-establish normal credit but sounds like a great alternative to those who already have established TL's but need to make unexpected purchases without the worry of a score drop.
