cancel
Showing results for 
Search instead for 
Did you mean: 

Fingerhut & Crown Jewelers

tag
Anonymous
Not applicable

Fingerhut & Crown Jewelers

Can anyone tell if if Fingerhut & Crown Jewelers are considered "credit cards" or "store" cards. Just curious because I have 4 major (visa/mc) and didnt know if these two were considered store under revolving. I know you should have a mix but not interested in adding a store card. Thanks!

Added: the reason I am asking as on TU they are classified as "charge accounts" where as the 4 majors that I have are classified as "credit cards".

Message Edited by jbhenrietta on 03-26-2009 06:34 PM
Message 1 of 10
1 ACCEPTED SOLUTION

Accepted Solutions
Anonymous
Not applicable

Re: Fingerhut & Crown Jewelers

Fingerhut & Crown Jewelers are "store cards". Basically, if it doesn't have VISA, Mastercard, Discover or American Express on it, it's not considered to be a major revolving cc.
Message 2 of 10
9 REPLIES 9
Anonymous
Not applicable

Re: Fingerhut & Crown Jewelers

Fingerhut & Crown Jewelers are "store cards". Basically, if it doesn't have VISA, Mastercard, Discover or American Express on it, it's not considered to be a major revolving cc.
Message 2 of 10
Anonymous
Not applicable

Re: Fingerhut & Crown Jewelers

Thank you for replying!
Message 3 of 10
Anonymous
Not applicable

Re: Fingerhut & Crown Jewelers

If you can only use the credit for the issuer's products & services, then it is a store card.  Unless it is "universally" or generally accepted is it otherwise.

Message 4 of 10
Anonymous
Not applicable

Re: Fingerhut & Crown Jewelers

not to nit-pick, but there are other majors, but generally less visible travel type cards (carte blanche/diners, etc)

 

The general rule for a store card is that it is issued for use in that establishment only (and sometimes in affiliate or sister stores) for the purchase their products & services only.  It is akin to any type of credit designed to increase and facilitate the sale of the issuing establishment's products.  

Message 5 of 10
Anonymous
Not applicable

Re: Fingerhut & Crown Jewelers

Thanks txjohn once again. You always reply with elaborate answers that really helps people like me understand!
Message 6 of 10
joeh05
Contributor

Re: Fingerhut & Crown Jewelers

This may be a dumb question but can and will these "store cards" help your credit?
Young and Dumb!!!!!!
04-5-2009 EQ - 491TU - 522
04/09/2009 EQ - 501 TU - 522
05/03/2009 EQ - 503 TU - 522
09/23/2009 EQ - 522 TU - 563
03/09/2011 EQ - 604 TU -608
Any advice for a 22year old trying to repair and stay there is welcome!!!!
Message 7 of 10
Anonymous
Not applicable

Re: Fingerhut & Crown Jewelers

The OP mentioned that these are called "charge accounts", so how does FICO treat them?  Do they count towards AAoA, available credit, how do they score versus say a Macy's or Nordstrom store card?

 

Just wondering because I thought "charge" cards were treated differently than revolving cards.

Message 8 of 10
haulingthescoreup
Moderator Emerita

Re: Fingerhut & Crown Jewelers


Pappy214 wrote:

The OP mentioned that these are called "charge accounts", so how does FICO treat them?  Do they count towards AAoA, available credit, how do they score versus say a Macy's or Nordstrom store card?

 

Just wondering because I thought "charge" cards were treated differently than revolving cards.



A maddening terminology problem.

Store cards used to be called "charge cards", because you were expected to pay them off every month. Your credit reports still call them charge cards, even though they are now revolving. If they aren't co-branded with Visa, MC, etc., they help your credit, as they are considered to broaden your credit mix.

Actual charge cards, generally AmEx green, gold, platinum, do nothing special for your credit mix.
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
Message 9 of 10
Anonymous
Not applicable

Re: Fingerhut & Crown Jewelers

When starting out store cards can help as a credit reference as long as you don't have too many and don't carry balances, especially on luxury store cards.

 

Some of the possible benefits of a store card is higher CL or quicker CLI.  But, like anything in life, too much of a good thing is bad.  But a couple store cards can be a healthy part of a diversified mix.  Also, the store cards may be less dicey on CLD (not always), since they issue them to drive store sales, whereas banks are on the hook for cash to third party vendors when you use it.

 

Don't kill your CR and FICO with too many inquiries on these type of cards.  Myself, my oldest account now 21 years old is a Macy's account.  So, this store card definitely helps my AAoA and oldest account.  Much of my credit is more recent.

Message 10 of 10
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.