Results from anyone who has used My Jewelers Club
This post is for anyone who has already used My Jewelers Club to establish the $5,000 line of credit and has had it report. What kind of improvements have you seen to your credit since then? I just started my account a month ago. Never received a card in the mail and nothing has shown on my credit report of this credit line even existing. How long does it take to show on your report? I'm looking for my credit utilization to go down. Right now its 70%. I'm paying down my other credit cards but I wanted this to help lower my utilization. Can anyone answer this.
I'm sure you've already experienced the results of MJC reporting to the bureaus, as this reply is a year late. However, I'll post my current experience for anyone else stumbling accross this thread. I applied for the card end of March 2020, received my goods within 10 days. They showed up on TU as MAJR Financial on May 3, pushing my score up 21 points and pushing my util down to 40% from 84%. They haven't reported to EQ or EX yet, so I'm still waiting on that. Looking forward to a little bump when they do. If anyone else has any experience with this TL, please post.
I have an account with them and I've never received a card but in reality, I don't need one. They reported to all the bureaus after about two or three months. It helped boost my scores about 20 points each. Honestly, had I known about this forum prior to getting an account with them, I wouldn't have done it. It's a retail card and therefore while it helps, it doesn't really do anything that responsible credit habits won't. Yes it helps with utilization but in the grand scheme of things, it's a real waste of money for junk. I opened mine last March (2019) and my scores were in the low 500's and I've built my credit profile up to the 700's in one year. Discipline and determination is the name of this game!
I hope this helps. Best of luck to you and feel free to reach out if you hand anymore questions! 😊