Merchandise Cards

[randaljon]

I know they get a bad rap but I just added one. Was costly at 150 initial activation fee and 20 a month to maintain but my score jumped 55 points and they report to all 3 credit bureaus!

[Eterion]

I'm new to the forums, but have been in the financial industry for awhile - $150 initial + $20/mo seems rather pricey for what could possibly be a short term boost to your credit score. Are you sure you weighed out all the pros/cons?

[kiea]

Do you mind me asking what card do you have?

[JayRizzo]

Oh Snap!  For that same amount of money, you could've received a REAL secured Major credit card.  Credit Unions are great for starters, then there's like a million others (just gotta compare their fees and features).

Merchandise accounts, IMO, are waaaaaaay overpriced so they'll get you both ways... Activation and Overpriced items.

[randaljon]

Well I recently opened a secured card for 500 and 2 unsecured visa 300 a piece. the 4000 merchandise credit limit is doing well for my credit utilization. Good short-term fix, you can cancel it anytime. So once I raise my limits on main cards, I can cancel the merch card... Raising my score 55 points will save me about 8 percent on car loan I plan to purchase in coming months. So for some people I think it's worth the immediate cost...

[kcole3]

Which merchandise card did u obtain that reported to all 3  eq ex and transunion?

Is there one website that has the merchandise cards?

[randaljon]

I heard Hutton Chase reports to all 3. Ox Publishing and USGoldCards(Conrad Acceptance) report to at least one each I know for sure.

[Anonymous]

But which card did "YOU" use?  You just stated you "heard"  Hutton Chase reports to all 3.

[randaljon]

I use USGoldCards, they use a new finance company called Citizens. They are currently reporting a 4k tradeline to all 3 bureaus.

[Anonymous]

That's awesome!  I think I might apply for one to see what they can do for me. lol