Reply
Contributor
Learning_Tee0225
Posts: 87
Registered: ‎04-08-2012

Re: Easiest retail card to get

Yea I have both scores through TU and MyFico and they both report almost the same score a 7 point difference between the two (TU website and Myfico website), kinda odd but oh well.  my TU and Equifax score are the only ones i have.

 

I was a little doubtful on needing a retail card i dont think it will hurt but at the same time i dont want to do all these inquiries to keep gettin denied when its something i may not even need to achieve a better score. 


Mortgage ready by 12-31-2013

EQ- 625 June-2013 TU 636 // May-2013 EX 633 May- 2012
Orchard 300$CL
Navy Fed SEC 500$ CL
Navy Fed Cashrewards 3K CL
NFCU GoRewards 1K


Valued Contributor
tcbofade
Posts: 2,046
Registered: ‎09-26-2011

Re: Easiest retail card to get

If you don't need it / won't use it...don't open it.

 

Do you have any CC accounts open?


Current Scores: EX 676 (FCR) TU08: 648 Wally (TU08). 07/01/14 Last app 05/29/2014.
Gardening until 01 November 2014.
(Thou shalt not app, thou shalt not app, thou shalt not app...)
Zero percent financing is where the devil lives...
Moderator
Revelate
Posts: 8,447
Registered: ‎12-30-2011

Re: Easiest retail card to get

[ Edited ]

Learning_Tee0225 wrote:

Yea I have both scores through TU and MyFico and they both report almost the same score a 7 point difference between the two (TU website and Myfico website), kinda odd but oh well.  my TU and Equifax score are the only ones i have.

 

I was a little doubtful on needing a retail card i dont think it will hurt but at the same time i dont want to do all these inquiries to keep gettin denied when its something i may not even need to achieve a better score. 


It probably won't hurt you beyond the inquiry(ies) and new tradeline (which are mostly short-term issues), but it's not going to help if you already have open national bank cards from everything that we know.  

 

Retail cards used to be the basement of the credit world; that's no longer the case, but the models theoretically still handle them a little differently and while I personally think it's ridiculous, I don't make the rules.  In all ways a national card is equivalent or better than any retail card, so unless you shop there and there's some useful perks, skip it.  That said, if you don't have any current credit cards, or even just one, you probably want something else but I'd always recommend a secured card or a rebuilder unsecured one over a retail card if we're just talking about FICO scoring purposes.

 

Starting Score: EQ 561, TU 567, EX 599* (12/30/11, EX lender pull 12/29/11)
Current Score: EQ 04 679, EQ 8 708, TU 711, EX 702* (07/14/14, EX older)
Goal Score: 700 on EQ '04 (01/01/15)


Take the myFICO Fitness Challenge
Frequent Contributor
JenniferinFL
Posts: 305
Registered: ‎03-16-2012

Re: Easiest retail card to get


Learning_Tee0225 wrote:

Yea I have both scores through TU and MyFico and they both report almost the same score a 7 point difference between the two (TU website and Myfico website), kinda odd but oh well.  my TU and Equifax score are the only ones i have.

 

I was a little doubtful on needing a retail card i dont think it will hurt but at the same time i dont want to do all these inquiries to keep gettin denied when its something i may not even need to achieve a better score. 


My only regular credit card hasn't reported yet, but, I got a 20 point boost when I my first credit card reported even though it was a Maurices card from WFNNB. The subsequent 5 added store cards have lowered my score about 15 points even though there was only one additional inquiry. What I did isn't a good idea for most people. But, I have an unusual situation wherein I have about 10 positive accounts all closed/paid off about 8 years ago and then ten negative accounts included in bankruptcy and closed 3 years ago. In two years all my old positive tradelines will have fallen off my credit leaving only the ten negative tradelines which will then fall off in an additional two years. Basically, without some kind of action, my credit account is going to be nothing but negative in two years. The really inconvenient part is that two years correlates with when I will be graduating from college and looking for a job that will probably run a credit check. It's also when my husband will quit working (after I start working obviously) and take my place as the stay at home parent leaving just my credit and income to rely on. I'm not entirely sure, but for me I think it will look better to have a pile of two year old accounts in a couple years versus one or two recent accounts and ten negative accounts. Either way, it's not going to be great. Even with the added accounts I have an AAOA of 6+ years.
I actually picked stores I don't frequent so that it would be easy to teach myself not to run them up. It's more of a chore to go in, find some cheap stupid item to put on the card, pay it off as soon as it posts and earn credit. I already resold my Ann Taylor Loft and Victoria Secret purchases on Ebay.. lol..

Starting Score: 615 EQ (03-15-2012) 600 TU (03-21-2012 Barclays app) USAA Fako 598 Vantage 639 (03-15-2012) Transrisk 616 (03-15-2012) Ch.7 discharged 5/2009
Current Score: 663 EQ (06-10-12) 655 TU (04-28-2012 myfico) Vantage 730 (05-15-2012) Transrisk 674 (05-15-2012)
Goal Score: 680 No more app'ing until May 12th 2013!


Take the FICO Fitness Challenge

Moderator Emeritus
webhopper
Posts: 7,230
Registered: ‎09-16-2011

Re: Easiest retail card to get


Learning_Tee0225 wrote:

Yea I have both scores through TU and MyFico and they both report almost the same score a 7 point difference between the two (TU website and Myfico website), kinda odd but oh well.  my TU and Equifax score are the only ones i have.

 

I was a little doubtful on needing a retail card i dont think it will hurt but at the same time i dont want to do all these inquiries to keep gettin denied when its something i may not even need to achieve a better score. 



Some people have reported luck with FingerHut


Starting Score: 08/29/2011 TU 671 EQ 674
Current Score: TU 754 EQ 694 EX 697
Wallet: NFCU Visa Sig 25k, Amex Lowes 22k, NavCheck 15k, Amex PRG, Amex Zync, Discover It 13.5k, Amazon Visa 5k
Platinum Spade Garden Club Member: App Free since 1/1/13. No more apps til who knows when?
MyFICO Fitness Goal: 800s Club!



Take the myFICO Fitness Challenge
Mega Contributor
LS2982
Posts: 15,434
Registered: ‎04-09-2011

Re: Easiest retail card to get


webhopper wrote:

Learning_Tee0225 wrote:

Yea I have both scores through TU and MyFico and they both report almost the same score a 7 point difference between the two (TU website and Myfico website), kinda odd but oh well.  my TU and Equifax score are the only ones i have.

 

I was a little doubtful on needing a retail card i dont think it will hurt but at the same time i dont want to do all these inquiries to keep gettin denied when its something i may not even need to achieve a better score. 



Some people have reported luck with FingerHut


I wouldn't go with fingerhut because of they're obsurd markup on products.




Silver Spade Garden Club Member - Last App 12/16/13 - Looking for a clean slate NO INQ's / Diamond Inspired!
Starting Score:
EX (PLUS) 583 EQ FICO 565 TU FICO 590 3/15/2011 / Goal Scores: 720
Current Score: EX FICO (PSECU) 671 (myFICO) N/A / EQ FICO 679 / TU08 FICO 678 / TU VS 706 3/6/2014

myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+