Credit Card Center Advertiser Disclosure†
03-18-2009 11:02 AM
I have a friend who is going to put new tires on this weekend and he is wondering about the Firestone CC offered by the store. Does anyone have Firestone CC experience?
Let me know the good the bad and the ugly so I can pass the info along.
Thanks in advance!
03-18-2009 11:09 AM
03-18-2009 11:10 AM
not familiar with the card per se but sounds like it could be backed by a 'finance' company which is to be avoided since it can ding score.
03-18-2009 11:13 AM
A search on "Firestone" turned up these results. Should find some good info in there, somewhere, while waiting for additional input from other members.
I will tell him to avoid that card at all costs! Any card that does not report the CL in this day and age is not worth it. Bummer for him they have the best deal on the tires (almost 100 bucks cheaper than Discount Tire where I bought mine).
03-18-2009 12:37 PM
While they don't report a CL, they will report your high balance. This will be used in replace of CL when figuring util.
So, if carrying a balance, it may appear that he is maxed out on it, but if going to use it and PIF, it would show 0% util.
Example, spouse has a Firestone card, only used it once for $98. High balance now shows $98, balance is $0. So util is $0/98.
If we were to charge say $500, then immediately pay down 50%, then util would be $250/$500.
The only thing I don't like about it is instead of just going to the store and swiping the card and getting approval/denial, the store has to call up Firestone and state the amount of purchase and Firestone approves/denies.
Not that big of a deal, but would be much easier to just swipe the card.
03-18-2009 02:21 PM
Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.† Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.