Credit Cards

[david122]

Hi, I currently have a Chase Debit card with me all the time and I use it to purchase a lot of stuff by using Credit option when I pay at the registers. Will this raise my Credit score over time? And how does it compare against a card like Discover? Thanks!!

[Bobert22]

---

david122 wrote:

Hi, I currently have a Chase Debit card with me all the time and I use it to purchase a lot of stuff by using Credit option when I pay at the registers. Will this raise my Credit score over time? And how does it compare against a card like Discover? Thanks!!

---

Nope wont help. That is a debit card and will not be reported to your credit agencies which will not effect your credit score. Wheras, the Discover card is a "credit" card which you pay after you get a bill.

I would try going to Chase Bank and see if they have any preapprovals for their Chase credit cards for you. 

[david122]

ahh... Thanks!!

[david122]

How about a Macy's or Bloomingdale's card?

[Bobert22]

---

david122 wrote:

ahh... Thanks!!

---

Yeah no problem.

The reasoning is that creditors/lenders want to see how you utilize credit they lend to you and your ability to pay back.

Wheras, debit cards basically take advantage of the funds that are already in your account and will be declined if you try to utilize more than the funds in your account. 

[Bobert22]

---

david122 wrote:

How about a Macy's or Bloomingdale's card?

---

Those are store cards which are included on your credit report and help your credit report if paid on time. 

[david122]

Thank you so much sir!

[Bobert22]

---

david122 wrote:

Thank you so much sir!

---

No problem!