topic Re: What should I do with this MyJewelersClub inquiry? in General Credit Topics

What should I do with this MyJewelersClub inquiry?

thatguycx — Wed, 01 Jan 2020 18:15:00 GMT

Okay so my reasoning for this is simply because I’m getting impatient; like I have a hard inquiry on my Experian file for no reason, even though they accepted me.

The inquiry from them was made on 11/29/2019 as “Majr financial Corp” and as of right now, no actual account has yet to be added. They still have not placed their account with my $5K credit line on my file. And the think about it is that I paid off the watch from them, so i don’t owe them anything.

So at this point, I’m honestly getting impatient. I’m really thinking about disputing the inquiry, but they may close the account (if they ever post the account) and then I may have to dispute the closed account to get it off.

How long does it usually take? And should I just start disputing? I mean their stuff isn’t all that great, I literally just did it for the credit line but I’m having second thoughts about it since they take forever.

Re: What should I do with this MyJewelersClub inquiry?

thornback — Wed, 01 Jan 2020 18:27:11 GMT

It's a valid inquiry so disputing it is not a good idea -- you'd have to declare it fraudulant and you'll probably just end up with a fraud alert on your reports and the inquiry will still remain because the creditor can prove you applied -- I mean, you paid off a watch so...

As for the account being reported: I don't know about myJewelersClub -- I always advise against acquiring those types of tradelines (for various reasons)-- but I know there are others in this forum that have them so someone will likely pop up eventually to offer some insight into how long it took for their accounts to report. You could also use the search tool and look up posts related to myJewelersClub to see if anyone mentioned how long reporting took.

That said -- there are many bank & credit union creditors that take a long time to start reporting new accounts -- Amex being one, they don't report till after the 2nd statement; NFCU is another that often takes 2-3 statements to begin reporting. So just because this account has popped up yet doesn't mean much - it may be their norm.

Patience is something you're going to need a lot of if you plan to build/rebuild your credit, so... you may want to work on that

Re: What should I do with this MyJewelersClub inquiry?

Remedios — Wed, 01 Jan 2020 18:28:40 GMT

Having seconds thoughts is not a good reason for inquiry removal.
While they are quite shady company, they have been reporting for the most people, unless something changed recently

If you decide to dispute, you will have to claim no permissible purpose or fraud.
Both will result in fraud alert being placed, even if HP is not removed.

You applied for credit, and credit was granted to you. Reporting is not mandatory
The only mandatory thing is that if lender chooses to report, it has to be accurate.

You kinda ended up with one bad tradeline. Dont make it any worse for yourself.

Re: What should I do with this MyJewelersClub inquiry?

Remedios — Wed, 01 Jan 2020 18:29:39 GMT

@thornback wrote:
It's a valid inquiry so disputing it is not a good idea -- you'd have to declare it fraudulant and you'll probably just end up with a fraud alert on your reports and the inquiry will still remain because the creditor can prove you applied -- I mean, you paid off a watch so...

As for the account being reported: I don't know about myJewelersClub -- I always advise against acquiring those types of tradelines (for various reasons)-- but I know there are others in this forum that have them so someone will likely pop up eventually to offer some insight into how long it took for their accounts to report. You could also use the search tool and look up posts related to myJewelersClub to see if anyone mentioned how long reporting took.

That said -- there are many bank & credit union creditors that take a long time to start reporting new accounts -- Amex being one, they don't report till after the 2nd statement; NFCU is another that often takes 2-3 statements to begin reporting. So just because this account has popped up yet doesn't mean much - it may be their norm.

Patience is something you're going to need a lot of if you plan to build/rebuild your credit, so... you may want to work on that

We need a schedule today 😂

Re: What should I do with this MyJewelersClub inquiry?

thornback — Wed, 01 Jan 2020 18:37:07 GMT

@Remedios wrote:
We need a schedule today 😂

😂🤣 Seriously - either that or one of those 'so-and-so is currently typing a response' indicators.

Re: What should I do with this MyJewelersClub inquiry?

Remedios — Wed, 01 Jan 2020 18:38:50 GMT

😂😂😂

Can you even imagine all the furious typing that would happen

Re: What should I do with this MyJewelersClub inquiry?

thornback — Wed, 01 Jan 2020 18:41:55 GMT

@Remedios wrote:
😂😂😂

Can you even imagine all the furious typing that would happen

Oh geez.. You're right. The most fantastic, fastest response competition would be real, forreal. 😜