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will new coast direct close my account if I dont buy stuff?

petcredit0421
New Contributor

will new coast direct close my account if I dont buy stuff?

please tell me your experience. I see they charge a 95.00/year fee to keep the account open but i wanted to confirm this is actually what people are experiencing. The account helps my utilization so I'd like to keep it open. i have no balance and havent since i opened it about 3 months ago, purchased something i happened to need and paid it off over 2 months. thank you!
☆rebuilding☆
TU 442 to 620
Exp 479 to 614
EQ 636
Message 1 of 5
4 REPLIES 4
FireMedic1
Super Contributor

Re: will new coast direct close my account if I dont buy stuff?

At $95 a yr. Doubt it. Not a lot of data points about them on here.




Homeowner since Sept 2020. My posts are JMHO. My siggy is not to brag. Just sharing my experiences after BK from learning here from rebuild to recovery from the @ 540's.
Message 2 of 5
Caneaus2020
Regular Contributor

Re: will new coast direct close my account if I dont buy stuff?

I'm in the rebuild myself, and I've consider New Coast Direct, My Jeweler's Club and others, haven't jumped on them yet, however I have a Fingerhut Advantage account, after satisfying their Fresh Start requirements.

 

If New Coast Direct is anything like Fingerhut, they might not close your account, but they will stop reporting to the credit bureaus.

 

I jumped on a 50% off promotin w/free shipping and bought a Blue Tooth box speaker for $30, that was reguarly $69, paid it off over two months, haven't purchased anything since and for six months they reported to the credit bureaus, as "On Time " payments even that i paid off my bluetooth box speaker a few months earlier, then they simply stopped reporting(last time they reported was July 2019).

 

Sorry to be long-winded, but that's my opinion.

 

p.s. Have you seen an increase in credit card approvals around the $5K range? There's this popular YiuTuber, who stated that he started with a couple of secured credit cards, managed them properly and noticed very little results, and was only getting offers from sub-prime credit cards. He explained that it wasn't until he invested in My Jeweler's Club nd New Coast Direct and they posted to his credit report, that he not only started getting prime credit card offers, but offers in the $2k-$8K range, have you experienced something similar?

Message 3 of 5
petcredit0421
New Contributor

Re: will new coast direct close my account if I dont buy stuff?

thanks everyone. NCD doesnt seem to report quickly or consistently no matter what but they eventually do and I did get my product Smiley Happy . I'll try to email them my question. Or maybe I'll just buy something else small.

I didn't notice an uptick in cc offers but I'm still in subprime cc territory. I have a fingerhut account with a high credit limit (3k)and a higher balance (2/3 of limit). my overall utilization is somewhere around 30%. but my scores are only mid 500. So I'm not expecting any decent cc offers right now.

I have a secured citi card and am just humming along with them and my subprimes and working on getting utilization down for now.
☆rebuilding☆
TU 442 to 620
Exp 479 to 614
EQ 636
Message 4 of 5
Morpho
Valued Contributor

Re: will new coast direct close my account if I dont buy stuff?

Don't buy anything else unless you need it. Just monitor your credit report. If they stop reporting, then you can make a purchase. But I believe that is what the $95 is for. They know people join simply for the credit line not to actually use them.


There are a lot of data points in this thread:

 

https://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/Just-signed-up-with-My-Jewelers-Club-and-New...

Message 5 of 5
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