Rebuilding Your Credit

[ikkin]

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

Nikki

[poorchic]

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.

[llecs]

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 $$.

[hoping2rebuild]

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

[hoping2rebuild]

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

[UpUpUp]

What the heck is a merchandise card?

[llecs]

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UpUpUp wrote:

What the heck is a merchandise card?

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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.

[UpUpUp]

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

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llecs wrote:

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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.

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[Candice]

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).

[poorchic]

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