Results from anyone who has used My Jewelers Club

[mrldp40]

Signed up Jan 16 showed up today .Report said it was reported Jan 31

[mrldp40]

Tu up 6 points 564-570

[aplast]

---

@mrldp40 wrote:
EQ FICO alert 552-560 8 points kinda disappointed at least it's up not down lol

---

Every point Counts! now let that account start aging and it will be off to the races.

[Anonymous]

I'm very curious as to why IF this thing actually adds 5k to one's overall available credit...Scores would not automatically shoot up?

Especially, as seeing the amount of the new CL used is tiny $100-$200/$5000

Does this report as a charge account or revolving credit.... There just seems to be no way one's revolving debt ratio can reduce by a huge chunk and only have scores change by only 4-6 points

[mrldp40]

Mine reported as charge account lowered utilization 74 to30 percent

[Anonymous]

Ha! Just got my Fico alert...it posted to Transunion (+3) and Exquifax (+12).

[mrldp40]

Well ,at least when other lenders look at report the will see a 5 k line

[mrldp40]

Still no update on Experian

[nolamike]

Update on MJC account

 I applied Dec 31 2016

on Fed 4 2017 the account finally  showed up on 2 of my credit reports, TU and EQ, waiting to see if it pops up on EXP.

Score here on MyFico went up 10 points on CK up 12

I now "owe" then 31 bucks after they took my payment today.

We will see if they update the Credit Reports and if after the final 31 is paid what they do.

Mike

[Anonymous]

The 'value' of other lenders "seeing" a '5k' TL is debatable for a few reasons....

1) It's NOT 1979, most decisions are NOT based upon a manual review where some UWer is gonna be overwhelmed by some 'created' 5k account, along side a otherwise B.S. credit profile....Don't be fooled

2) OK let's say the account shows up, how long and well has the account been managed? That takes time to see and 2-3 months isn't 'aged'

3) Not responsible lender is gonna get giddy and award a 'matching' 5k account just because some schmucks created a "fake" 2nd rate TL when the rest of the profile has $200 CL CCs, collections and 85% maxed accounts with late payment history

Not saying anything bad about this company in particular but don't be oversold on the gawdy 5k #
Assuming a miracle is on the way

With the cost associated, in purchasing some piece of jewelry one wasn't looking for couple with having to age the account anyway...I'm not seeing the magic bullet here vs several other options, especially for a person that already has some data on their profile and come to think of it even those with thin files can do better things IMO with the funds required for this thing.

Color me not impressed but willing to hear/see more evidence 😑