This question is for anyone who has had experience with a Household Bank CC. I recently received an offer for one pre-approved and designed to improve my CR. Is this a good CC or am I wasting my time with this one. I haven't accepted yet. I'd like to here opinions if anyone has them.
I have it. I just don't use it cause the limit is so low (300). Some poeple have suggested that a Household tradeline will hurt you cause it is a finance co. I have not seen that happen on my credit report. I would say- if you just want a positive tradeline, get it. If you just want a decent credit line, don't get it.
Well I received one with a $1500 limit just in may02 with a chp7 bk that wasn't discharged till sept02. This was a REAL credit card with no deposit. For the life of me I don't know how I got it. It said it was pre-approved and to just go online to accept the offer. Don't you know I just about fell off my chair we they said "APPROVED $1500". I thought it was a joke so I called and they confirmed it. I haven't had any customer service issues with them and so far very helpful. I do have a beef with their reporting however. Check out this thread: http://consumers.creditnet.com/straighttalk/board/showthread.php?s=&pgnum=1&postid=267088#post267088 I think that they are affiliated with Orchard Bank also. Many people here have said that both Household and Orchard Suck! So maybe some other people can give you more info. For me they've been ok minus the reporting issue.
I got the gold MC when I applied for Best Buy. $2000 CL. No problems yet. That's been about 6 months ago. Will be asking for an increase soon. Wonder if I'll get it? Anna
The cc is not from Household Finance. It is from Household Bank. They are 2 different co's under the Household veil.
I have a HH Bank CC and it's no deposit, without most of the exhorbitant fees I normally see, being in my (temporary!) position. I mean, I've seen several offers come my way and aside from an annual fee (ok - I had to suck it up on that one), there's been start-up fees, transaction fees, one-time fees - hell I've seen fees for processing fees! Their website is great also. I love paying bills online and I hate organizing paper statements, etc.... they email me notices about payments due, email me when my payment is received - send me links so I can view my statements.... And they started reporting my accounts as paid as agreed after my first payment.... So far so good and I'm happy with them.... gargoyle girl
P.S. i just called about a cl increase and they guy (who was very nice, btw) said after my next on-time payment I'll be eligible and to call back about a week after the payment is made. he said I have excellent payment history, excellent payment amounts - and the fact that I'm actively using the card is a plus in their eyes coupled with my payment amounts..... even though I got rejected (for now) I'm happy!! gargoyle girl
What are your scores and how long have you had HH? Just curious b/c I have had mine since may02 and I was going to ask next month.
Let's see - I made a min. payment first time, and then paid in full the next two payments. I charged almost to the limit and then paid off both times.... so that's a tad over 3 months?? my scores are 622 EX and 616 TU.... don't know EQ.... I sent a couple of dispute letters on the 5th but I don't think those got taken into consideration when I looked up my scores shortly after - I honestly don't think they'd have them in the system at the time I checked.... If you had it since may and you're making good payments, from what he told me, you're eligible... let me know how you do, ok?? Good Luck!! gargoyle girl
Household bank credit cards are ok. Household Finance installment loans will tank your score. every 6 mos or so call and try to get retention (say that you're thinking of getting rid of the card)... see if they can give you either better terms or a line increase. don't get caught up in buying credit line increases. it's a rip off and retention can do it for free. they're fine. online payments. report to all 3 bureaus. a bit high on interest rates and annual fee but given what's out there now (economic decline) they're ok for building or rebuilding (They beat a lot of offers out there). pay your bills online. they're a bit slow if you mail payments. take the offer and get the tradeline going. the faster you get solid credit reporting the faster you can get much better cards.
if you have 6 mos payment history under your belt call up and say you're thinking of getting rid of the card b/c of the credit line. see if you can get retention... they can do up to 400 increases every 6 mos (181 days). they can also lower the rate to 15.9 or waive / refund the annual fee . you only get to choose one though you can work up the credit line nicely this way within a few years
Anna: Did you get the best buy card, too? Did you have a BK? What's your credit history (generally)? Thanks!
