Adding a tradeline??

A thread about this came up just a few days ago. Unless the creditor subscribes to one or all three of the CRA's, there really is no way to get the tradeline to report. Having RAC provide you with a printout showing you've paid on time for the past xx amount of months won't be sufficient for the CRA's.

Just my personal opinion here, but you probably wouldn't want RAC to be reporting anyway. Future creditors may look upon them similar to the way they do to finance companies. (Loans from finance companies, even if paid as agreed, R1 status, don't help your score) For example, a future creditor may look at an RAC account and wonder why the consumer did not just obtain credit from a regular furniture store/department store, or even finance through a c.c.

 

Interesting. I thought that for a fee, the CB would add unconventional tradelines and credit info. I have some things that I would like to add to get those scores up again but they are from vendors who don't report. They are not Rent-a-Center but local stores that gave a line of credit.

 

At the bottom of my TU report it says send $5 and we will "investigate" whether we can report this tradeline/ Save your money. You DON'T want a RAC tradeline on their, like someone else said it raises red flags as to why you didn't just go to a department store and get a CC thru them.
KHM

 

what about those who don't have any credit at all but have had credit and stuff with companies that don't report? My sister doesn't have any credit at all and doesn't want to apply for anything because she doesn't have any credit for fear of being turned down. If those type of things added to a credit report with nothing on there, wouldn't that at least give a decent score?

 

that's funny...I have someone's report and since they didn't pay at all....guess what on the report from Easy Rental.....you know these places do what they want to do. In this case it seemed that they sent it to a collection agency that had the ability to report default!!!

 

If someone has no credit, and is afraid of getting turned down for c.c.'s, go to your local credit union, open up a savings account and get a secured credit card with them, pay on time, they'll unsecure it. Or apply at capital one, they'll start her off witha secured card, which BTW does not report as secured to the CRA's, and in time, they too will unsecure it.

 

In most cases, yes, a solid 2-3 year history with a creditor would only help your scores, not hinder them. However, in the case of RAC, it's hard to say what exactly it would do. I don't believe (unless RAC would be specially coded) that it would bring your score down, however; I do believe on a manual review, or on a review set up to look for specific "keywords" or "types of credit", having RAC on your report would hurt your chances. That being said; like others have said in previous posts, chances of you getting TU ( or any of the CRA's ) to put this account on your report are slim, and in the long run, that just may be better for you.

 

tmitchell,

You probably already know this but in case you don't:

Rent-A-Center is high!!!
Aaron's is cheaper for the same quality products. All rental places have 90 day same as cash. In other words, you have 90 days to pay the cash price instead of the huge rental price. I purchased a washer and dryer for $700. I worked overtime, fix cars, and mowed lawns for extra money. I paid the $700 before the 90 days ended. Had I paid the monthly inexpensive payments, I would have paid them over $1000 for the washer and dryer! Unbelievable!

 

I got a good deal on my pillowback couch and LAZYBOY, $26 a week for 18 weeks, cost me $450, *I* think it was well spent. I've had them since 3/98 and wouldn't trade them for the world. Considering a friend of mine just bought a plain couch from Jordans furniture and spent $700 (no lazyboy tee hee hee)
KHM