credit repair with Crown Jewelers?
Date: Mon, 03/02/2009 - 13:47
I opened an account with Crown Jewelers and was given 2500$ credit line. I just bought a low cost piece on their site and had some questions. Maybe someone can help in answering them.
How much and how often does one have to spend on Crown Jewelers in order for them to keep the line open and continue reporting?
How soon after making the first purchase do they report to credit agencies?
Why do they report only to two major agencies?
How much of a boost in score can one expect from a $2500 credit line and does this depend on how much is spent?
What is the best way to use this opportunity in the most optimal way to boost the score on credit history?
Thank you and enjoy the day:)
stevenaloha
Hi Guest As far as I know, only a purchase with the card is req
Hi Guest
As far as I know, only a purchase with the card is required to activate the account. If you have purchased anything with the card and is unable to make the full payment, you should make the minimum payment towards the card in order to keep the card active. The minimum monthly payment towards the card is $25 for every $500 i.e. 5% of the outstanding debt amount.
To build up a good credit history with the card, you need to make purchases with the card and pay it within the due date. If you do not become delinquent, you can expect a good credit score within a year or so.
i did the same
anyone knows answers to these questions? it would be great to know this? I am in the same boat.
Quote:How much and how often does one have to spend on Crown Jew
Quote:
How much and how often does one have to spend on Crown Jewelers in order for them to keep the line open and continue reporting? |
I bought 1 item in April 08 and PIF'd the next month. I have not purchased anything since but they are still reporting. I will probably make another purchase next month to keep it active.
Quote:
How soon after making the first purchase do they report to credit agencies |
They reported w/in 45 days of teh account being opened
Quote:
Why do they report only to two major agencies? |
Not sure how much they have to pay for the privelege of reporting to the CRA's but all Data Furnishers have to pay a fee to report
Quote:
How much of a boost in score can one expect from a $2500 credit line and does this depend on how much is spent? |
Initially, my score boost was around 45 points because it dropped my utilization percentage. Amount of time open will help increase your score marginally but every little bit helps
Quote:
What is the best way to use this opportunity in the most optimal way to boost the score on credit history? |
Buy something inexpensive every 6 months and PIF teh next month
my initial score is around 590. I opened the account last week,
my initial score is around 590. I opened the account last week, bought a thing and when can i expect the credit score change? 45 points? that would be awesome:)thx!
my initial score is around 590. this trade line is the only cred
my initial score is around 590. this trade line is the only credit line on my report that is active.I opened the account last week, bought a thing and when can i expect the credit score change? 45 points? that would be awesome:)thx!
You'll likely see the score increas immediatly but unless you ar
You'll likely see the score increas immediatly but unless you are going thru MyFICO, what you are seeing is a FAKO generated by whatever credit monitoring service you are using.
Yes buy something at a low cost every couple months and pay it i
Yes buy something at a low cost every couple months and pay it in full within the next month or 2 and you should see it reporting withing 45 days of opening the account if you pay on time.
