Yes. Montgomery Ward reports to the credit bureaus Experian, Equifax, and TransUnion every 30 days. Reports are sent to these three major credit bureaus for all open Montgomery Ward Credit Accounts, and each report includes information such as the account’s statement balance and payment history. Montgomery Ward will only stop reporting to the credit bureaus when the account closes, which could happen after a year of inactivity, so use your credit line to make purchases each year if you want the account to remain open and reporting.
Opening a Montgomery Ward Credit Account is a great way to boost your credit score, but it will only help if you use the line of credit responsibly. Maxing out your credit line, missing payment due dates, and other missteps will be reported to credit bureaus, which will likely cause your credit score to decrease.
If you’d like to see the effect that your Montgomery Ward Credit Account is having on your credit, you can check your latest credit score and TransUnion credit report for free on WalletHub.
No. Montgomery Ward is not affiliated with Fingerhut. These two businesses do not have the same parent company, as Montgomery Ward is a subsidiary of Colony Brands, Inc., while Fingerhut is a subsidiary of Bluestem Brands, Inc.
That said, Montgomery Ward and Fingerhut have partnered up in the past. Their most recent joint venture – Montgomery Ward Direct – launched in 1991. However, Montgomery Ward Direct was shut down in the mid 1990s, and the two companies do not currently share any other projects. Montgomery Ward and Fingerhut now compete in the online retail space for the business of middle- and low-income consumers, especially those with less-than-good credit scores.… read full answer
There is no Montgomery Ward credit score requirement, since Montgomery Ward will approve applicants with bad credit or no credit history for credit lines. The lack of an official Montgomery Ward credit score requirement doesn’t mean everybody gets approved, as Wards can partially approve or deny credit line applicants. Partial approval means that Wards will grant you credit for part of the credit line that you request, but you’ll need to pay the rest up front.… read full answer
The Montgomery Ward Credit Account is one of the easiest credit lines to get approved for. Like many other issuers, Montgomery Ward will pull an applicant’s credit history while evaluating a new credit application. But the approval requirements are pretty lenient. Since Montgomery Ward also reports to credit bureaus, opening a credit account with them is a solid way to build your credit score.
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