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Credit Approvals from Shopping Cart Trick. Will it hurt my credit score

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youngguns996
Contributor

Credit Approvals from Shopping Cart Trick. Will it hurt my credit score

The Shopping Cart Trick worked for me at Express, I got approved for a new account unknown on CL and it also worked at JCREW but I didn't accept. I am afraid of opening to many new accounts. Will opening to many credit accounts with small CL hurt or help my credit score?

Start Ex 514 EQ 552 TU 582
Current Ex 702 EQ 687 TU 734 All Fico Scores (Lender Pull)
Goal 700+
Message 1 of 4
3 REPLIES 3
Kenny
Moderator Emeritus

Re: Credit Approvals from Shopping Cart Trick. Will it hurt my credit score

It will affect your average age of accounts, which makes up a good portion of your credit score. If you don't have many accounts to begin with then it might help you just so that you have at least 3 cards/accounts to show your history.
Message 2 of 4
coldnmn
Mega Contributor

Re: Credit Approvals from Shopping Cart Trick. Will it hurt my credit score

As stated it will bring down your average age of accounts. If you get to many toy limit cards it could make you look desperate for credit and CLI may become few and far between. Also it may hurt you for getting better cards in the future for the same reason. Remember always apply for cards you will use not just because you get approved. Credit card companies frown on people opening and closing cards in a short period of time. If it's the only way for you to get a couple trade lines started then go for a couple but don't go nuts. It may come back to bite you. Good Luck on your credit journey. Remember credit is a journey not a race. You remember that and you'll do great.

Discover IT $17k / US Bank Ace (VSig) $13.5K / US Bank Cash+ (VSig) $13.5k
Sam's Mastercard $15k / Walmart Mastercard $10k / Blispay $7.5k PayPal Ex MC $10.8k
CareCredit 5k / Husq $5k / Cap1 QS $4.5k / Barclay Ring $5.35k / Citi DC (WMC) $12k
Gardening Date 7/01/16 / MyFico 08: EQ 801 / TU 777 / EX 771 / 06/08/17
Message 3 of 4
CreditUnionFan
Valued Contributor

Re: Credit Approvals from Shopping Cart Trick. Will it hurt my credit score


@coldnmn wrote:

As stated it will bring down your average age of accounts. If you get to many toy limit cards it could make you look desperate for credit and CLI may become few and far between. Also it may hurt you for getting better cards in the future for the same reason. Remember always apply for cards you will use not just because you get approved. Credit card companies frown on people opening and closing cards in a short period of time. If it's the only way for you to get a couple trade lines started then go for a couple but don't go nuts. It may come back to bite you. Good Luck on your credit journey. Remember credit is a journey not a race. You remember that and you'll do great.


Good point about taking your time. Comenity may "love" you, but I just found Citibank frown on a CLI for an account I've had for 12+ years for "too many recently open accounts".

 

I called to try to recon it, and the folks I spoke to as Credit analyst and Retention said there was nothing they could do to overturn a computer-based decision. I have half-thought about calling Citi's EO to see if I can do anything, but may just leave it alone.

 

In my case I added:

Oct: Express, J.Crew,

Nov: Peebles

Dec: Toys R Us, Newegg/BillMeLater, MyPoints Visa, TD First Class

Jan: EBay MC, UPromise MC, CSP, and Amex Blue Sky (replaces or-iginal Optima from '99)

 

I did add a few new accounts; paying them all off, but Citi doesn't know that, so Citi turns down a CLI that might have been useful.

(so I am burning through the last of my Dividend Dollars I can earn for this year, than shoving their card in the drawer)

I was going to garden... Honest!
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