03-25-2010 10:21 PM
03-27-2010 12:25 AM
They report to the other two, they do NOT report to EX. I have an account. It did raise my score, but I got it to counteract something I knew would lower it, so I can't really tell you how much. I'll tell you this much that I've learned from other forums. Most people choose the option to pay for it incrementally. Pay it on time, they're set up like any other creditor. If you pay it 60 days late, expect to see that on your report too.
03-27-2010 05:54 PM
I don't mind, but I can't really come up with an exact answer because I closed a credit line at the same time.
But anyway, within one reporting period it went up 29 points... But the assumption it was pulled down some because of the closed account. (It was an account that had no balance, had been paid off for a while)
03-27-2010 07:33 PM
and what to you have to do to get a reporting line of credit with them?
03-28-2010 12:10 AM
They are an e-book company, so dont deliver hard consumer products. They may not even offer any products a consumer wants.
Their thing is to offer you an account, of course at an up-front fee, and then open an acount with CL of from $2.5-25K.
They then report this CL to one or more CRAs giving you a FICO boost. Your credit with them is only good for their products.
I know of no legal action against them, and it really is kinda a smart scheme. But they are not really selling publishing products, they are selling FICO CL boosts.
Just like AU accounts were once widely sold on the net to third parties, and were clamped down upon, I predict that this FICO scheme will soon burst.
03-28-2010 04:40 AM
$10,000 Charge My Card $495 Today
03-30-2010 07:59 PM - edited 03-30-2010 08:05 PM
99% of merchadise cards report to PRBC and not one of the 3 major CRA's they used to have the below listed on all their sites but I am guessing since it may have cost them customers not reporting to at least on of the biggies they have removed it and now just say they belong to a CRA.
Always read the small print
IMHO I would steer clear of Merchandise cards as well
We report your credit line and payments to PRBC, a national credit bureau, which may improve your credit score
and the below was copied directly from the PRBC website:
Make Better Decisions Using PRBC Reports
PRBC (Payment Reporting Builds Credit) is a national credit bureau that captures consumers' history of paying rent, utility, and other recurring bills that aren't reported to traditional bureaus.
Hope all this info helps