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Advice on Merchandise Cards

New Member

Advice on Merchandise Cards

I am thinking about getting a merchandise card but I would like some advice on what company to go with.
 
Who should I go with? Who do they report to? What are the costs?
 
My husband and I are working very very hard to get our 1st home.
Any help would be greatly appreciated!
 
Thanks
NikkiSmiley Very Happy
19 REPLIES
New Member

Re: Advice on Merchandise Cards

I'd love to know this answer too.  The other thing I'd like to know...is there a way to find out which companies use which reporting agencies?  My equifax score is higher than the others, so if I were going to apply for a merchandise card I'd want to try and find one that would use the higher score, so I can open a new account and hopefully improve the others.  
 
Thanks.
Moderator Emeritus

Re: Advice on Merchandise Cards

Some here swear by them.
 
IMO, I would stay away. They don't always report to all 3 and you are paying large fees or are paying too much for overpriced stuff you probably don't need.
 
I started with 0 CCs last August. I know it is hard to get that first one. Don't be afraid to start with a secured card if you had to; it will save you $$.
Established Contributor

Re: Advice on Merchandise Cards

I would stay away from them If I were you, I  after reading your post and I went on a search pay attention to whom they report to!
 
 
© 2008 First Plus Platinum, a leader in independent credit line providers.
*Cash advances provided by First Advance Lending Center, an independent company.

We report your credit line and payments to PRBC, a national credit bureau, which may improve your credit score
 
 


Message Edited by hoping2rebuild on 09-12-2008 06:14 PM

Starting Score: 377EQ/350EX/400TU As of 11/2011
Current Score: 620EQ/614EX/612TU As of 01/2013
Goal Score: 700+ across the boards
Established Contributor

Re: Advice on Merchandise Cards

Found the exact same disclosure for another "merchandise" card.
I have never heard of this CRA that they are refering to.
 
© 2008 Global Gold Credit, a leader in independent credit line providers.
*Cash advances provided by First Advance Lending Center, an independent company.
We report your credit line and payments to PRBC, a national credit bureau, which may improve your credit score

Starting Score: 377EQ/350EX/400TU As of 11/2011
Current Score: 620EQ/614EX/612TU As of 01/2013
Goal Score: 700+ across the boards
Valued Contributor

Re: Advice on Merchandise Cards

What the heck is a merchandise card?
Moderator Emeritus

Re: Advice on Merchandise Cards



UpUpUp wrote:
What the heck is a merchandise card?


I was assuming a generic term for companies like Ox Publishing, Crown Jewelers, and others where typically high fees are involved or are limited in reporting and often involve over-priced items. Each year I get one for some sort of "Union" with a $10k CL. Tons of fine print. I have to buy their stuff. They did send a catalog stuff and left me unimpressed.
Valued Contributor

Re: Advice on Merchandise Cards

Ooooh. So sort of like a finger hut I guess.

llecs wrote:


UpUpUp wrote:
What the heck is a merchandise card?


I was assuming a generic term for companies like Ox Publishing, Crown Jewelers, and others where typically high fees are involved or are limited in reporting and often involve over-priced items. Each year I get one for some sort of "Union" with a $10k CL. Tons of fine print. I have to buy their stuff. They did send a catalog stuff and left me unimpressed.



Contributor

Re: Advice on Merchandise Cards

Crown Jewelers is one that a lot of people on here have used. Anything else I would stay away from. CJ reports to TU and EX (but no EQ).
New Member

Re: Advice on Merchandise Cards

I really meant department store cards; Sears, Home Depot, Boscovs etc...     Sorry for the miscommunication. I still have the same question though.