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Valued Member
14sephora
Posts: 48
Registered: ‎02-13-2009

Are retail store cards easy to attain...?

I was reading the thread on "how many CCs is considered Optimal" and I don't have a retail store card or gas card...should I be looking at the history of the company since theyre all about easy to get? Or are their ones easier to get than others? I was contemplating on...Victoria's Secret Angels card...Nordstroms card..or maybe a 76 or Chevron gas card?

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Valued Contributor
nothingman02
Posts: 1,072
Registered: ‎02-15-2009

Re: Are retail store cards easy to attain...?

Target is relatively easier to get. So is the case with Spiegel. I think BP is the easier gas card but could look it up on these forums.
Valued Member
michellewaves
Posts: 28
Registered: ‎11-20-2008

Re: Are retail store cards easy to attain...?

The Victoria's Secret one was pretty easy to get.  They called me a couple of days after applying, basically to verify who I was.  They gave me a higher cl to start than my other store card, Walmart ever has given me, even though I've had Walmart for several years. I'd recommend the VS card if you're going to use it a lot, and pay it off every month because of the interest.  I would be shopping there regardless of whether or not I had the card, so it was a good pick for me.
Senior Contributor
txjohn
Posts: 4,214
Registered: ‎09-12-2008

Re: Are retail store cards easy to attain...?

Store cards often can be "easier to get" meaning lower standards or higher CL at similar standards.  Reasons for this is that the borrower is more restricted in use if it is only a store card (not major).  Also, store cards tend to pay higher fees to the backing bank (higher discounts) meaning that the lender is interested in placing more credit at this higher than average profit margin (you buy $100 in product, but lender only pays $94 to store).

 

Finally, at times the store may provide "recourse" to the lender.  This means that if loans are late or go bad, the store promises to replace or repay the bad debt.  In this way the store only is on the hook if you default, but the lender has the high profit margin and guaranteed (sort of a co-signer effect) from the store.

 

Store cards and gas cards add very little to your "mix of credit" unless you have little or no credit or need to add CL for utilization purposes.  In that sense, adding a couple may help establish higher CL or greater number of accounts.  For example, my oldest account (21 years) is a Macy dept. store card (actually was a Bon Marche).  This account is critically important to me now as it is by far my oldest account.

 

However, if the store does not pay higher than average fees to the lender and offers no recourse or other consideration to lender, then the store card may not be much easier to get than a major cc.  And in that case, it would be better for practical use and CR/FICO to get a major cc rather than the store card.

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Valued Contributor
Scamp
Posts: 2,791
Registered: ‎03-18-2007

Re: Are retail store cards easy to attain...?


14sephora wrote:
I was reading the thread on "how many CCs is considered Optimal" and I don't have a retail store card or gas card...should I be looking at the history of the company since theyre all about easy to get? Or are their ones easier to get than others? I was contemplating on...Victoria's Secret Angels card...Nordstroms card..or maybe a 76 or Chevron gas card?

 

14s, your first consideration should be where you actually shop a fair amount or get gas on a regular basis, as you'll have to use the card at least once every few months to keep it active, so it's best to get one for a merchant you'd actually use anyway.

 

If you shop VS and/or Nordstrom's regularly, then either one would be a fine option for you.  Same for 76 or Chevron, if those are the stations where you buy gas most of the time.

 

If the cards you listed are for places you do shop regularly, then one of the quickest ways to find out more about them, their typical app requirements, CL's, behavior regarding CLI's, etc., is to do a search for each one on here and read the resulting threads - you can learn a lot and often answer your own questions that way, and it should be a big help to you in deciding which card you really want to get. :smileyhappy:

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Established Contributor
Pappy214
Posts: 794
Registered: ‎08-05-2008

Re: Are retail store cards easy to attain...?

Scamp is right. You only really want a store card from a place you shop at. That way you will use it, and they will reward you.   
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Established Contributor
VEEnVEGAS
Posts: 645
Registered: ‎10-24-2007

Re: Are retail store cards easy to attain...?

Hi 14sephora

 

If your user name here means that you love to shop Sephora you might want to consider JC Penny...you can shop Sephora online and in some local Pennys stores with their card. They're a GEMB card and generally pull EQ (sometimes TU) and they offer frequent CLIs.

Valued Member
14sephora
Posts: 48
Registered: ‎02-13-2009

Re: Are retail store cards easy to attain...?


VEEnVEGAS wrote:

Hi 14sephora

 

If your user name here means that you love to shop Sephora you might want to consider JC Penny...you can shop Sephora online and in some local Pennys stores with their card. They're a GEMB card and generally pull EQ (sometimes TU) and they offer frequent CLIs.


hehe yes..I love Sephora! but not so much JCPenny...I think I'll go for the Victoria's Secret card today..they preapproved me..so why not? hehe My credit history is only 3 years old...


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Contributor
CyndibemyLOVE
Posts: 94
Registered: ‎02-04-2008

Re: Are retail store cards easy to attain...?

Any store card that uses wfnnb. Do a search for wfnnb and you will find a bunch including VS, Reeds Jewelers, Peebles, Burkes, Bealls, National TV, and a bunch more... Credit Pulls Database and put WFNNB and you will get three pages of the stores that use this bank... As for Gas cards try Sunoco, Shell, Exxon before Chevron for an easier cards to get...  
Valued Member
14sephora
Posts: 48
Registered: ‎02-13-2009

Re: Are retail store cards easy to attain...?

I applied for the Victoria's Secret b/c I was "pre-approved" for $250..I submitted the application and now it's under review and I should wait 7-10 days..Did I just get denied?

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