topic Re: My Jewellers Club Tradeline is Gone off my Experian & Score tanked :( in Rebuilding Your Credit

My Jewellers Club Tradeline is Gone off my Experian & Score tanked :(

seanjames — Mon, 17 May 2021 01:00:41 GMT

I originally had a 5K my Jewellers tradeline that was reporting to Experian which was at like 650. I noticed the Tradeline fell off recently even though i had made a purchase that was paid off in February. My score has now tanked to to under 600.
Is there anyway to get myjewellers back on my Credit report. I saw in some forums that they are having an issue with the CRAs

I also tried applying for new coast and was denied which was strange due to back child support etc which i dont have any . They gave me a number to call another company that pulls their credit and makes the approvals. I was told by that company that they no longer work with New Coast and contract was terminated. Looks like New Coast cannot do trade lines any longer

Can someone please confirm or deny . Is there any other tradelines i can get to boost my score.

I have 2 Secured Cards - Cap 1 500 and Us Bank 300. Both less than 4 months. I also opened self.com secured loan for 700. But all those are still very low limit credit lines

Re: My Jewellers Club Tradeline is Gone off my Experian & Score tanked :(

Anonymous — Mon, 17 May 2021 01:07:17 GMT

Those pay-to-play tradelines are history. The CRAs are wise to the trick and refuse to report them any longer. They're used to pad stats and inflate creditworthiness and the bureaus know it. They aren't going to report them.

Cancel it, forget about the other similar lines, and you'll have to build the normal way, with discretion in apps, low usage, and time.

Re: My Jewellers Club Tradeline is Gone off my Experian & Score tanked :(

Horseshoez — Mon, 17 May 2021 01:10:25 GMT

@seanjames wrote:
I originally had a 5K my Jewellers tradeline that was reporting to Experian which was at like 650. I noticed the Tradeline fell off recently even though i had made a purchase that was paid off in February. My score has now tanked to to under 600.
Is there anyway to get myjewellers back on my Credit report. I saw in some forums that they are having an issue with the CRAs

I also tried applying for new coast and was denied which was strange due to back child support etc which i dont have any . They gave me a number to call another company that pulls their credit and makes the approvals. I was told by that company that they no longer work with New Coast and contract was terminated. Looks like New Coast cannot do trade lines any longer

Can someone please confirm or deny . Is there any other tradelines i can get to boost my score.

I have 2 Secured Cards - Cap 1 500 and Us Bank 300. Both less than 4 months. I also opened self.com secured loan for 700. But all those are still very low limit credit lines

If you search here you will find lots of threads about the My Jewelers scam, initially they were reporting credit lines to all three credit bureaus, however, once folks started looking into the deal they quickly realized it was effectively a "Pay for Credit Line" scheme which is most cases is not valid; as such, all three credit bureaus stopped including that line of credit on their reports.

Regarding your situation, I'd look for a third secured credit card and then "garden" them for up to a year; following this plan will cause your scores to improve dramatically.

Re: My Jewellers Club Tradeline is Gone off my Experian & Score tanked :(

seanjames — Mon, 17 May 2021 01:23:05 GMT

Thanks for the info. Is there any secured card that you can suggest that i can apply for that would not do a credit pull?

And do you think 8 months of on time payments will boost my score siginificantly combined with the other 2 cards i have - 1 Secured (Us bank other non secured - Cap 1

Re: My Jewellers Club Tradeline is Gone off my Experian & Score tanked :(

Horseshoez — Mon, 17 May 2021 01:35:30 GMT

@seanjames wrote:

Thanks for the info. Is there any secured card that you can suggest that i can apply for that would not do a credit pull?

And do you think 8 months of on time payments will boost my score siginificantly combined with the other 2 cards i have - 1 Secured (Us bank other non secured - Cap 1

Hmmm, I had two secured cards last year, one from CapitalOne and one from TDBank, both were hard pulls. Don't quote me on this, but I think I've read here there are some credit unions which are willing to provide a secured card with only a soft pull, but I honestly don't remember for sure, or for that matter, which financial institutions offer such.

The above said, how detrimental would another hard pull be to you? I ask because before I found this site early this year and last year after my discharge I didn't understand the concept of hard and soft pulls and racked up something like 11 hard pulls in my first 12 months post discharge. Even with those hard pulls virtually all of my FICO scores have already crossed over the 650 mark and some are pushing 750. Said another way, adding one more hard pull won't be the end of the world. I'm thinking if you were to apply for a Discover secured card and take the singly hard pull for that, your scores will actually improve a bit after a month or two as the third card will offset the hard pull, and then some.

Re: My Jewellers Club Tradeline is Gone off my Experian & Score tanked :(

Anonymous — Mon, 17 May 2021 01:47:39 GMT

OpenSky is a no-HP approval.

Re: My Jewellers Club Tradeline is Gone off my Experian & Score tanked :(

babygirl1256 — Mon, 17 May 2021 04:06:00 GMT

@seanjames I heard that jewelers are not trade lines recognized by the CRAs . . . try reaching out to EX for assistance and resolution.

Re: My Jewellers Club Tradeline is Gone off my Experian & Score tanked :(

Horseshoez — Mon, 17 May 2021 08:37:19 GMT

@babygirl1256 wrote:
@seanjames I heard that jewelers are not trade lines recognized by the CRAs . . . try reaching out to EX for assistance and resolution.

Wasted effort; they will no longer report My Jeweler as they know it is a scam.

Re: My Jewellers Club Tradeline is Gone off my Experian & Score tanked :(

babygirl1256 — Mon, 17 May 2021 15:27:49 GMT

@Horseshoez So sorry to hear that.

Re: My Jewellers Club Tradeline is Gone off my Experian & Score tanked :(

Cass2387 — Tue, 18 May 2021 03:29:47 GMT

Mine are gone also. I'll get better organicly. Good luck to you.