topic Re: Venue Card? in Credit Cards

Venue Card?

Anonymous — Thu, 20 Nov 2008 01:51:45 GMT

I got a catalog and 'pre-approved' offer for Venue Card (Venue.com) which basically is an online 'luxury item' site (watches, computers, electronics, jewlery, etc.)

I could use a couple things on there but am wondering how they report.

For instace if I order $2k worth of items, will I then be reported as $2k Line $2k Balance which will affect my utilization poorly?

If this is not really a credit-card but more of a 'store card' will that help my mix at all?

If it IS a store card does it still report as revolving?

Anyone have experience with this?

Re: Venue Card?

Anonymous — Thu, 20 Nov 2008 01:54:17 GMT

looks like it's a charge card and not a visa/mc type of credit card

Re: Venue Card?

Anonymous — Thu, 20 Nov 2008 01:59:19 GMT

Thanks. So how do charge cards get scored on your credit report? Do they give you a limit and if so is it part of your utilization or is it scored separately? I know Amex is *supposed* to be charge but seems to get mixed in all the time.

If it is charge that would be cool, the only concern would be the inquiry hit.

Re: Venue Card?

Anonymous — Thu, 20 Nov 2008 02:50:16 GMT

@Anonymous wrote:
I got a catalog and 'pre-approved' offer for Venue Card (Venue.com) which basically is an online 'luxury item' site (watches, computers, electronics, jewlery, etc.)

I could use a couple things on there but am wondering how they report.

For instace if I order $2k worth of items, will I then be reported as $2k Line $2k Balance which will affect my utilization poorly?

If this is not really a credit-card but more of a 'store card' will that help my mix at all?

If it IS a store card does it still report as revolving?

Anyone have experience with this?

If you go with this card be careful - not that they're bad - they tend to excessively expensive. I looked at the MIO GPS. On Venue the MIO is $300. At Best Buy, the same GPS is $160.

Message Edited by FaircreditguyFL on 11-19-2008 06:50 PM

Re: Venue Card?

Anonymous — Thu, 20 Nov 2008 03:11:54 GMT

Wow, good call. In many cases 25% and more above MSRP...

Re: Venue Card?

Anonymous — Fri, 21 Nov 2008 03:18:13 GMT

is this card easy to be approved for?

Re: Venue Card?

Anonymous — Wed, 26 Nov 2008 03:51:05 GMT

yes, this card is very easy to get.....i have NO credit score because of inactive credit...least that what the bank said, and i got approved for $1,800 with this card..the card is thru World Financial Capitol Bank...granted the prices are a tad higher than going to a store with cash, but, it seems like a good way for me to work on my credit...these cards have a what i consider a high interest rate mine being the highest starting rate of 22.99%. the only catch to these cards is that its interest free for upto 18 months if approved for over $1,900, but the interest builds during that period, and if not paid by end of promo period, they add all that acrued intrest to your balance....so if u get this card, pay it off before the promo is up, and its all good....

Re: Venue Card?

Anonymous — Wed, 26 Nov 2008 14:13:07 GMT

@Anonymous wrote:
yes, this card is very easy to get.....i have NO credit score because of inactive credit...least that what the bank said, and i got approved for $1,800 with this card..the card is thru World Financial Capitol Bank...granted the prices are a tad higher than going to a store with cash, but, it seems like a good way for me to work on my credit...these cards have a what i consider a high interest rate mine being the highest starting rate of 22.99%. the only catch to these cards is that its interest free for upto 18 months if approved for over $1,900, but the interest builds during that period, and if not paid by end of promo period, they add all that acrued intrest to your balance....so if u get this card, pay it off before the promo is up, and its all good....
Can you say Fingerhut?

Re: Venue Card?

Anonymous — Wed, 26 Nov 2008 20:30:07 GMT

i, called last night, and they gave me the 7 to 10 day letter..which means declined, at least for me anyway....but yes they seem exactly like fingerhut..even down to the same prices..but they are not financed by the same people..they are financed by the same bank as Blair clothing.....

Re: Venue Card?

Anonymous — Wed, 26 Nov 2008 21:33:10 GMT

Ahhh, thank you for explaining who/what Venue is - I'd spotted a soft from them on my EX report from a couple of months back. I suppose I probably received, and threw out without even looking at, the catalogue, which would explain why I had no idea who they are!

VENUE CARD = CREDIT KILLER!!!

Anonymous — Wed, 16 Dec 2009 12:49:02 GMT

Not sure if this will help at all, but do yourself a favor and do NOT get a venue card. i bought a Sony Vaio with the same "pre-approved" packet. the laptop was 1: about 6 months out of date 2: about $600 overpriced 3: came from germany, and was completely in German when i got it 3: the box had already been oppened. also, venue is backed by World Financial Capital Bank ( google some forums on that if you want a real scare!) pretty much they send out a bunch of pre approved flyers to people with less than perfect credit. you miss ONE payment and your interest rate jumps through the roof. also, i joined the military in april. there is an act calle the sailor and soldiers relief act, which states any prior engagements as far as credit cards go, are to be made to have a ceiling rate of 6 percent. i faxed over the paper work 3 times. the third time they finally accepted it, but would only retro-date the interest rate to september, when they are required to retro-date the interest rate to 6 percent, starting on the day you join. to put it lightly, i bought a $1,700 laptop, and over a year later i still owe about $1,300 on it. They really like to call you a lot to remind you they owe you money.. i used to get 2 calls a day.. usually around 5am, then around 9pm. if you look into it, im almost posative there are restrictions on the hours bill collectors are allowed to call. pretty much, venue gives people with bad credit overpriced merchandise that is garbage, knowing that about 75 percent of those people will default on at least 1 payment, and then they refuse to work with you.

i hope this helps you out, i wouldnt want this to happen to anyone else. this is definately NOT the way to build your credit... in fact, i can no longer get a loan for ANYTHING.

Re: VENUE CARD = CREDIT KILLER!!!

Creditaddict — Wed, 16 Dec 2009 22:21:54 GMT

I got the Venue card back when it first was introduced through a pre-approval. I bought a DVD Surround System on 6 months same as cash and paid it off in 4 months and had no issues. I believe the Venue product line and credit card have since been closed. I have nothing bad to say about the program, it's very similar to other store card interest rates and the 0% works like all other 0%, if it's not paid off within that time frame you pay all back interest and if you miss payment all interest will be billed... I don't know why people always scream about such terms like they are cheating you, pay your bill on time and off before the time period and you won't have issues.

Re: VENUE CARD = CREDIT KILLER!!!

Anonymous — Wed, 16 Dec 2009 23:12:24 GMT

Seems like the website is shut down now?