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Could I qualify for a store card yet?

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Anonymous
Not applicable

Could I qualify for a store card yet?

I have no fico score and no debt with Transunion of 644 and Eq at 645. Is it possible to get a store card yet? I just started my credit journey with capital one. I have one pif showing and 4% utilization. I was told to sit on the CO for 6 months before applying anywhere.

Message 1 of 30
29 REPLIES 29
jeffm4688
Frequent Contributor

Re: Could I qualify for a store card yet?

I'd wait for 6 months history and your first CLI to show up if you really want to improve approval odd's, and receive a decent limit

FICO 12/2015 - EX 692 TU 685

FICO 10/2021 - EX 596 TU 605 EQ 600 - officially rebuilding.

What survived:
Amex HH - 1.5K | Amex Delta - 1K | Amex Bonvoy - 1.5K | Amex BRG - 3.5K | Amex BRG - 3.5K | Amex Business Cash- 2K | Amex Business Plus - 2K
Message 2 of 30
creditguy
Valued Contributor

Re: Could I qualify for a store card yet?

Your scores should qualify you for most store cards. Any baddies on your reports? Which card(s) are you considering?
Message 3 of 30
Shooting-For-800
Senior Contributor

Re: Could I qualify for a store card yet?

I would stay away from store cards unless you shop there all the time and they have great benefits (Amazon = 5% back)

 

Stick to Capital One (maybe open another one) and then try Barclays 13 months after your first card was opened.

 

Cap One is very rewarding if you are loyal and pay them in full.  

 

Why deal with a bunch of $500 store cards if you get a $3500 Visa with 1.5% cash back?

Rebuild started in 2014  -  $100k unsecured credit in 2017  -  $500k unsecured credit in 2024.

DON'T WORK FOR CREDIT CARDS ... MAKE CREDIT CARDS WORK FOR YOU!



Message 4 of 30
pizza1
Community Leader
Super Contributor

Re: Could I qualify for a store card yet?

your chances of a store card approval would go up tremendously if you had at least 6 months good history reporting on all 3 CRA's. At that time, If you're wanting a store card, my advice is to go with a card backed by Comenity 1st, they tend to be more lenient on approvals with a very thin history and file, than Synch backed cards does when first starting out. When you're ready, get a card that you know would use and shop at. For example..if you're a Woman...VS...a guy...Express.
Message 5 of 30
Anonymous
Not applicable

Re: Could I qualify for a store card yet?

I know it's hard to wait but you must be patient if you want to buil a good/perfect credit report . Wait at least until myfico.com can give you a score ( usually 6-7 months ) . If you really want another TL open a secured loan with a credit union or your personal bank .
Message 6 of 30
SouthJamaica
Mega Contributor

Re: Could I qualify for a store card yet?


@Anonymous wrote:

I have no fico score and no debt with Transunion of 644 and Eq at 645. Is it possible to get a store card yet? I just started my credit journey with capital one. I have one pif showing and 4% utilization. I was told to sit on the CO for 6 months before applying anywhere.


Since you have decent scores, ,and already have a Capital One card, I would advise you not to tie yourself up with store cards, but instead add a Visa or Mastercard.

 

 


Total revolving limits 741200 (620700 reporting) FICO 8: EQ 701 TU 704 EX 685

Message 7 of 30
Pway
Valued Contributor

Re: Could I qualify for a store card yet?


@pizza1 wrote:
your chances of a store card approval would go up tremendously if you had at least 6 months good history reporting on all 3 CRA's. At that time, If you're wanting a store card, my advice is to go with a card backed by Comenity 1st, they tend to be more lenient on approvals with a very thin history and file, than Synch backed cards does when first starting out. When you're ready, get a card that you know would use and shop at. For example..if you're a Woman...VS...a guy...Express.

I totally agree.

Thank you for the wealth of knowledge I have learned from these forums. I am logging off as of November 9, 2022. I wish everyone great success.
Message 8 of 30
Anonymous
Not applicable

Re: Could I qualify for a store card yet?

 


@Shooting-For-800 wrote:

I would stay away from store cards unless you shop there all the time and they have great benefits (Amazon = 5% back)

 

Stick to Capital One (maybe open another one) and then try Barclays 13 months after your first card was opened.

 

Cap One is very rewarding if you are loyal and pay them in full.  

 

Why deal with a bunch of $500 store cards if you get a $3500 Visa with 1.5% cash back?

 

 

 

 

 

 

 

@ humuhumunukunukuapua'a wrote:

 

 

 

 

+1. Best comment I've seen relative to store cards.

 

 

OP, I'd say to cultivate your Capital One card, and maybe apply for one more secured card (major card, not store card) at this time.

 

In a few months your scores should increase, and about 12 months down the road you should be able to apply for a Barclaycard Rewards or a Discover secured (possibly unsecured). Having 12 months of credit history will help you in applying for another card.

 

Planning to acquire meaningful major cards will be a lot more helpful to you than collecting store cards.

 

If there is a store card you would really use often, by all means go for it, but I agree with the others that you don't want to be acquiring a bunch of store cards.

 

Message 9 of 30
Countingpennies
Established Contributor

Re: Could I qualify for a store card yet?


@Anonymous wrote:

I have no fico score and no debt with Transunion of 644 and Eq at 645. Is it possible to get a store card yet? I just started my credit journey with capital one. I have one pif showing and 4% utilization. I was told to sit on the CO for 6 months before applying anywhere.


You don't have a Fico score, so do you mean you can't get a score from MyFico yet? It's okay, just clarifying what you are saying. Where are are your TU and EQ scores from?

Message 10 of 30
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