I opened a Ginneys account about 3 months ago and have been making my payments on time. I went to check my credit and noticed they are not reporting on my credit.
I have a few questions.
1. Does Ginneys not report credit?
2. Are there other catalogs out there that do report besides Fingerhut?
3. If I pay off my Ginneys credit next month will the report it.
Thanks much for your helpful advice, its much needed.
@rbentley wrote:Ginney's does not report your credit unless you default. So in essence they report bad credit but not good. They are useless in a credit rebuild. They are what is known as a hidden tradeline. A blance with them will not effect your scores or your utilization. Paying off the account does not result in a positive report to the CRB's.
+1 to the above. Ginney's and all their family of cards( 7th Avenue, Midnight Velvet, Wards, Swiss Colony, Country Door etc) do not report to CRB's unless you default or miss payments. Fingerhut and Gettington (in the Fingerhut "family" of cards) both report positive and negative history to all three CRBs.
