Comenity + trick - What is it?

[Anonymous]

I see alot of people mentioning this and the "credit card trick" ... it seems like people are using this to rebuild their credit? I am in the process of rebuilding and was recently approved for my first actual credit card (CAP1 Quicksilver) in many years... I also have an unsecured Cap1.

Could you guys shed some light on it? Would it help my credit? It seems like they are store cards and its a soft inquiry? Any credit is good credit I suppose?

Whoever has experience with this please let me know if its worth doing. I am about 620-630 and trying to improve my score.

Thanks

[Creditaddict]

just do a search above for "Shopping Cart Trick" tons of posts and how to.

[Anonymous]

does it help ones credit? does it affect your score by running these inquires?

[Anonymous]

Also I tried searching... found lots of threats with people saying the trick worked but nothing detailing or explaining exactly what it is and/or what it does, whether or not it affects your credit etc.

[Scupra]

http://ficoforums.myfico.com/t5/Credit-Cards/NEW-UPDATED-LIST-for-Comenity-Bank-Store-Cards-can-be-u...

It will "hurt" your score any way a new TL would. 

[Anonymous]

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@Anonymous wrote:

Also I tried searching... found lots of threats with people saying the trick worked but nothing detailing or explaining exactly what it is and/or what it does, whether or not it affects your credit etc.

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Only a select few of those stores have the "trick" enabled.  There are no hard pulls.  Although, I've read that those approved for the Total Rewards ended up with a HP. 

It will affect your AAoA so you will see a dip in scores but I've been told give it 4-6 months and they'll go back up.  It's only because they are new TL's.  They all seem to SP EQ, although Victoria's Secret did a SP through EX with me, but that was the only one.  Make sure your Pop-Up blocker is off.

Tip:

Victoria's Secret can be used at Bath and Body Works.

[Anonymous]

Thanks. Great to know. I tried out Express yesterday and was approved for $500 CL. I figured I'd open all apps around the same time so I'd  just wait around 6 months and they'll all have the same AAOA

[jamesdwi]

avoid doing more than 2 or 3 cards that way in a month, they have been known to shutdown all your cards if they see too many new cards. 

[aubie1kenobie2]

Also try for cards that you are actually going to use (i.e. stores you shop at).