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I bought a watch worth $1,600 in store and got 12 mo financing offer if I apply for their CC so I did and got approved for $3,000
But when it reported I have 2 bloomingdales account 1st has 0/3000 balance and the 2nd has $1,600/$1,300 balance.
I called then they said that I charged the payment to my club account which I had no idea when I bought it. They only gave me the approval receipt for $3,000.
Before it reported my EX was 741 but right after it went down to 670 now 672 I'm worried I will have a negative report on my account so I PIF as soon as I can.
Anyone had experience with this one? will my score go up when it reports? I only have %2 util yet CCT says high credit usage is hurting my score.
Utilization has no memory. Once you get this fixed, your score will recover in that aspect. New account and/or inq make take a few points.
Well that bites.
If Bloomingdales offered 0% financing, as the hook to get you to apply for the 3,000 line, then I'd think they could transfer the charges to the 3,000 account. Maybe take the watch back and ask for a refund, then buy it again on the 3k line?
I guess this counts as something of a Shopping Cart Trick In-Store Gone Wrong.
Your score should obviously recover, when the $1,300 line posts zero again, but the transaction itself is a disappointment, to be sure.
I'm surprised that your Club account was not higher to accomadate the watch purchase. Usually Macy's and Bloomingdale's will give you a CL based on how much your purchase is. Maybe you should call and see whether you can get a CLI on your club account, although come August the extra lines are supposed to be combined into the revolving account (except Major Purchase... well it's questionable on that one).
Keep both your credit and your body in top shape!
@Anonymous wrote:I bought a watch worth $1,600 in store and got 12 mo financing offer if I apply for their CC so I did and got approved for $3,000
But when it reported I have 2 bloomingdales account 1st has 0/3000 balance and the 2nd has $1,600/$1,300 balance.
I called then they said that I charged the payment to my club account which I had no idea when I bought it. They only gave me the approval receipt for $3,000.
Before it reported my EX was 741 but right after it went down to 670 now 672 I'm worried I will have a negative report on my account so I PIF as soon as I can.
Anyone had experience with this one? will my score go up when it reports? I only have %2 util yet CCT says high credit usage is hurting my score.
I'd definitely consider calling and seeing if you can get a CLI on the Club account line.
Next month, the accounts will combine, since Bloomingdales and Macy's are changing how they report, so you will see a big UTIL improvement once that happens.
Experian updated today and my score went up to 731 I'm glad it went back to normal thanks for the input guys I did try to get a cli but was denied 3x and they can't move the balance because they use club accounts for jewelry and watches.