topic Re: Dell account in General Credit Topics

Dell account

Anonymous — Mon, 03 May 2021 14:43:43 GMT

So I signed up for a Dell credit card because I was going to get a new computer but then decided against getting one from Dell. I searched the forums looking to see if Dell was a CFA and people were saying that a revolving account isn't a CFA. So I just get an alert for Experian from myfico and it says under account type that is a new retail loan. Have I screwed myself? Can I close the card and get them to remove it? My Experian score only dropped 1 point and I already have a CFA on my report from a car loan with ally but I had no idea that they were a CFA. I'm really upset about this. Can I dispute it with Experian and tell them it's a credit card?

Edited to add. I looked at the Experian website and it says charge card. I think myfico wants me to have a mini heart attack.

Re: Dell account

Anonymous — Mon, 03 May 2021 13:27:08 GMT

I was going to dispute it just now and on Experian it says charge card. I guess myfico wanted to give me a mini heart attack this morning?

Re: Dell account

coldfusion — Mon, 03 May 2021 14:21:33 GMT

It's just as well you didn't dispute with Experian as It probably would have been seen as frivolous. If you have a question about how it is being reported you should first contact WebBank as they are the underwriters of the Dell Preferred Account (i.e. the "Dell Credit Card").

Re: Dell account

Anonymous — Mon, 03 May 2021 14:42:48 GMT

I looked on Experians website and it's listed as a charge card. Do you think it's just the way myfico is looking at it?

Re: Dell account

Brian_Earl_Spilner — Mon, 03 May 2021 14:56:40 GMT

@Anonymous wrote:
I looked on Experians website and it's listed as a charge card. Do you think it's just the way myfico is looking at it?

If you pull your actual reports it will be listed as a revolving charge account. A charge card will report as a revolving credit card, but will be factored into scores differently depending on scoring model.

Re: Dell account

calyx — Mon, 03 May 2021 16:00:51 GMT

@Brian_Earl_Spilner wrote:
@Anonymous wrote:
I looked on Experians website and it's listed as a charge card. Do you think it's just the way myfico is looking at it?
If you pull your actual reports it will be listed as a re.volving charge account. A charge card will report as a revolving credit card, but will be factored into scores differently depending on scoring model.

^ What he says. It's a retail account, it's not going to code quite like your nationals, but it is not a CFA.

Re: Dell account

designated_knitter — Tue, 04 May 2021 19:40:19 GMT

@Anonymous

FYI, You can use the Dell card from the Microsoft store so you can use it to purchase Surface computers, Xboxes, Samsung tablets, etc.

So that may make it more useful to you -- especially if it is already on your report.

Re: Dell account

Anonymous — Tue, 04 May 2021 20:55:05 GMT

@Anonymous wrote:
So I signed up for a Dell credit card because I was going to get a new computer but then decided against getting one from Dell. I searched the forums looking to see if Dell was a CFA and people were saying that a revolving account isn't a CFA. So I just get an alert for Experian from myfico and it says under account type that is a new retail loan. Have I screwed myself? Can I close the card and get them to remove it? My Experian score only dropped 1 point and I already have a CFA on my report from a car loan with ally but I had no idea that they were a CFA. I'm really upset about this. Can I dispute it with Experian and tell them it's a credit card?
Edited to add. I looked at the Experian website and it says charge card. I think myfico wants me to have a mini heart attack.

They do report the inquiry as an "installment loan" inquiry (not sure why), but it is a retail charge card aka revolver. This is not an installment loan and not a CFA. If you already have a CFA, then not much changes adding another, IME, as always YMMV.

When I had all 4 age off, I saw a smaller gain in points (less than half) of what my SO gained when having his only 2 age off. Ours both aged off at the same time. Profile differences, etc, but not too drastic from one another (both dirty).

Nonetheless, it is not an installment loan (SO got the same notification from CRAs when Dell reported, even though it is a revolver) and cannot be a CFA.

Technically, even credit cards, on credit reports will state "loan type" and then say "credit card" or "charge card". A lot of credit unions and such often use "loan type" in the applications, even when applying for a credit card. I believe even credit cards are considered "loans", but not "installment loans", but rather (as I mentioned, not to be redundant) "credit card" or "charge card" and secured or unsecured with revolving terms. Like even term length will be "revolving" or something like that (can't remember off the top of my head).

Like mentioned above, the Dell card can be used to purchase a variety of different brands and products, so it may have it's use now or later. I would not turn around and shut it down immediately. It does not remove it from your credit reports and was a valid account that was opened, so you cannot dispute it off just because you no longer want it on your reports. It is free to keep open and you already took the new account/inquiry hit, might as well keep it awhile.

Re: Dell account

Rottweilerlvr — Tue, 04 May 2021 21:07:58 GMT

@designated_knitter wrote:
@Anonymous

FYI, You can use the Dell card from the Microsoft store so you can use it to purchase Surface computers, Xboxes, Samsung tablets, etc.

So that may make it more useful to you -- especially if it is already on your report.

I don't think this is accurate anymore. I haven't been able to add my account to Microsoft store.. This was around December/January when I was looking into it.

Re: Dell account

Anonymous — Tue, 04 May 2021 21:26:24 GMT

I did not know that but that's awesome.

Re: Dell account

Anonymous — Wed, 05 May 2021 00:28:04 GMT

@Rottweilerlvr wrote:
@designated_knitter wrote:
@Anonymous

FYI, You can use the Dell card from the Microsoft store so you can use it to purchase Surface computers, Xboxes, Samsung tablets, etc.

So that may make it more useful to you -- especially if it is already on your report.
I don't think this is accurate anymore. I haven't been able to add my account to Microsoft store.. This was around December/January when I was looking into it.

When my SO bought his Alienware PC in March, we had no problem using it at checkout in the Microsoft store when we bought a headset.

Not sure about linking it, but is accepted as payment at checkout

Re: Dell account

designated_knitter — Wed, 05 May 2021 19:03:37 GMT

@Rottweilerlvr wrote:
@designated_knitter wrote:
@Anonymous

FYI, You can use the Dell card from the Microsoft store so you can use it to purchase Surface computers, Xboxes, Samsung tablets, etc.

So that may make it more useful to you -- especially if it is already on your report.
I don't think this is accurate anymore. I haven't been able to add my account to Microsoft store.. This was around December/January when I was looking into it.

@Rottweilerlvr and @Anonymous

This is still true. I just placed an order online through the Microsoft store. During checkout, I entered my last name and the last 4 of my SSN at checkout and it found my DPA and populated that as the method of payment.

First time I attempted the order, the order was declined and my account was frozen and had to call in for identification verification.

While I was on the line for verification, I specifically asked the CSR if DP could be used online at the Microsoft store and she confirmed that it could be.

Once I completed the phone verification, I went back to microsoft.com and completed my order and it went through with no issue.

Hope this helps!

ETA: I will say I tried to do this to pay for my Microsoft Office subscription and I was unable to add the account for that purpose so it may work with software or digital purchases.