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Shopping cart trick

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Anonymous
Not applicable

Shopping cart trick

Can someone explain the shopping cart trick? And benefits if any?

Message 1 of 5
4 REPLIES 4
sarge12
Senior Contributor

Re: Shopping cart trick


@Anonymous wrote:

Can someone explain the shopping cart trick? And benefits if any?


On some websites once you place an item in the shopping cart it will bring up a prompt for their credit card, and if you accept it is only a soft pull...it is a way to get some credit without a hard pull bringing down your score. The extra credit can lower your utilization, thereby raising your fico score. Once the card is approved, you can cancel the item in your cart, but will still recieve the card.

TU fico08=812 07/16/23
EX fico08=809 07/16/23
EQ fico09=812 07/16/23
EX fico09=821 07/16/23
EQ fico bankcard08=832 07/16/23
TU Fico Bankcard 08=840 07/16/23
EQ NG1 fico=802 04/17/21
EQ Resilience index score=58 03/09/21
Unknown score from EX=784 used by Cap1 07/10/20
Message 2 of 5
Anonymous
Not applicable

Re: Shopping cart trick

Please use caution. The most common mistake is chasing multiple Sct cc with low limits vs building a solid foundation in rebuilding. If you MUST utilize Sct.....only get one for a store you shop very frequently. 

Most people end up regretting loading their portfolio with Sct cc. 

Message 3 of 5
sarge12
Senior Contributor

Re: Shopping cart trick


@Justagirl73 wrote:

Please use caution. The most common mistake is chasing multiple Sct cc with low limits vs building a solid foundation in rebuilding. If you MUST utilize Sct.....only get one for a store you shop very frequently. 

Most people end up regretting loading their portfolio with Sct cc. 


Very valid point....shortcuts to higher credit scores are often not the best thing for your overall credit future. I have maintained an above 800 fico score on at least 1 CRA for years. I have never used the SCT myself, and generally avoid store cards. A quality credit profile is achieved by knowing the factors in a score and developing a strategy based on that. No tricks are needed...pay all bills on time, have a good credit mix, and maintain low utilization...I PIF every month...and high scores will eventually result.

TU fico08=812 07/16/23
EX fico08=809 07/16/23
EQ fico09=812 07/16/23
EX fico09=821 07/16/23
EQ fico bankcard08=832 07/16/23
TU Fico Bankcard 08=840 07/16/23
EQ NG1 fico=802 04/17/21
EQ Resilience index score=58 03/09/21
Unknown score from EX=784 used by Cap1 07/10/20
Message 4 of 5
Anonymous
Not applicable

Re: Shopping cart trick


@sarge12 wrote:

@Justagirl73 wrote:

Please use caution. The most common mistake is chasing multiple Sct cc with low limits vs building a solid foundation in rebuilding. If you MUST utilize Sct.....only get one for a store you shop very frequently. 

Most people end up regretting loading their portfolio with Sct cc. 


Very valid point....shortcuts to higher credit scores are often not the best thing for your overall credit future. I have maintained an above 800 fico score on at least 1 CRA for years. I have never used the SCT myself, and generally avoid store cards. A quality credit profile is achieved by knowing the factors in a score and developing a strategy based on that. No tricks are needed...pay all bills on time, have a good credit mix, and maintain low utilization...I PIF every month...and high scores will eventually result.


+1000

Agreed. 

Strategy is key with a couple of dashes of patience 😂

Message 5 of 5
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