Ok, my Fico Friends and Family!
I'm curious as to the IMPACT on ones Fico score if there is a difference between retail store (target, best buy, walmart, etc,) cc's and major (visa, mc, amex, disc) cc's.
All things being equal, I'm looking for thoughts on STRICTLY SCORING PURPOSES. I'm not looking for convenience of acceptance at other places, vs only one outlet. I'm not looking for reward point or other card benefits.
From a STRICTLY FICO SCORING PERSPECTIVE, all things being equal, can one achieve an equally strong Fico Credit Score using ONLY retail store CC's vs ONLY major bank CC's?
I look forward to all your replies!
Thanks!
@Anonymous wrote:
@grillandwinemaster wrote:Ok, my Fico Friends and Family!
I'm curious as to the IMPACT on ones Fico score if there is a difference between retail store (target, best buy, walmart, etc,) cc's and major (visa, mc, amex, disc) cc's.
All things being equal, I'm looking for thoughts on STRICTLY SCORING PURPOSES. I'm not looking for convenience of acceptance at other places, vs only one outlet. I'm not looking for reward point or other card benefits.
From a STRICTLY FICO SCORING PERSPECTIVE, all things being equal, can one achieve an equally strong Fico Credit Score using ONLY retail store CC's vs ONLY major bank CC's?
I look forward to all your replies!
Thanks!
Major bank CC's > Retail store CC's
I'm not sure Nixon's inequality addresses the question.
I have to say, OP's question is an intriguing one. People on a FICO quest are quick to kick to the curb any store cards, but since they are all revolving credit, it seems possible you could develop a long history with a few store cards, using them lightly for purchases, and see a credit history and improved FICO scores.
Whether one would have the psychological ability to actually stick with store cards for those long years, is another question. The mental price of admission to the "high FICO from store card only" club might be too much 
@NRB525 wrote:
@Anonymous wrote:
@grillandwinemaster wrote:Ok, my Fico Friends and Family!
I'm curious as to the IMPACT on ones Fico score if there is a difference between retail store (target, best buy, walmart, etc,) cc's and major (visa, mc, amex, disc) cc's.
All things being equal, I'm looking for thoughts on STRICTLY SCORING PURPOSES. I'm not looking for convenience of acceptance at other places, vs only one outlet. I'm not looking for reward point or other card benefits.
From a STRICTLY FICO SCORING PERSPECTIVE, all things being equal, can one achieve an equally strong Fico Credit Score using ONLY retail store CC's vs ONLY major bank CC's?
I look forward to all your replies!
Thanks!
Major bank CC's > Retail store CC's
I'm not sure Nixon's inequality addresses the question.
I have to say, OP's question is an intriguing one. People on a FICO quest are quick to kick to the curb any store cards, but since they are all revolving credit, it seems possible you could develop a long history with a few store cards, using them lightly for purchases, and see a credit history and improved FICO scores.
Whether one would have the psychological ability to actually stick with store cards for those long years, is another question. The mental price of admission to the "high FICO from store card only" club might be too much
They're all part of the credit mix. But I would assume major bank cards are weighted heavier.
I appreciate NRB525's verbalization of this question. Nixon's assertion that major bank CC's are weighted heavier is at the heart of this equation. If this is true, what would be the "dynamics" of the equation to make them weighted heavier from a Fico scoring perspective?
@Anonymous wrote:
@NRB525 wrote:
@Anonymous wrote:
@grillandwinemaster wrote:Ok, my Fico Friends and Family!
I'm curious as to the IMPACT on ones Fico score if there is a difference between retail store (target, best buy, walmart, etc,) cc's and major (visa, mc, amex, disc) cc's.
All things being equal, I'm looking for thoughts on STRICTLY SCORING PURPOSES. I'm not looking for convenience of acceptance at other places, vs only one outlet. I'm not looking for reward point or other card benefits.
From a STRICTLY FICO SCORING PERSPECTIVE, all things being equal, can one achieve an equally strong Fico Credit Score using ONLY retail store CC's vs ONLY major bank CC's?
I look forward to all your replies!
Thanks!
Major bank CC's > Retail store CC's
I'm not sure Nixon's inequality addresses the question.
I have to say, OP's question is an intriguing one. People on a FICO quest are quick to kick to the curb any store cards, but since they are all revolving credit, it seems possible you could develop a long history with a few store cards, using them lightly for purchases, and see a credit history and improved FICO scores.
Whether one would have the psychological ability to actually stick with store cards for those long years, is another question. The mental price of admission to the "high FICO from store card only" club might be too much
They're all part of the credit mix. But I would assume major bank cards are weighted heavier.
That could be, but is that a result of the credit bureaus and FICO identifying the bank entities vs the store entities, which would imply there is a "good list" and a "bad list" somewhere in the Fair Isaac scoring model, which someone has to maintain.
or could it be the banks tend to end up with higher credit limits than any store would consider, and most normal people would pursue? Fingerhut at $20k? Does anyone have that in their signature?
@NRB525 wrote:
@Anonymous wrote:
@NRB525 wrote:
@Anonymous wrote:
@grillandwinemaster wrote:Ok, my Fico Friends and Family!
I'm curious as to the IMPACT on ones Fico score if there is a difference between retail store (target, best buy, walmart, etc,) cc's and major (visa, mc, amex, disc) cc's.
All things being equal, I'm looking for thoughts on STRICTLY SCORING PURPOSES. I'm not looking for convenience of acceptance at other places, vs only one outlet. I'm not looking for reward point or other card benefits.
From a STRICTLY FICO SCORING PERSPECTIVE, all things being equal, can one achieve an equally strong Fico Credit Score using ONLY retail store CC's vs ONLY major bank CC's?
I look forward to all your replies!
Thanks!
Major bank CC's > Retail store CC's
I'm not sure Nixon's inequality addresses the question.
I have to say, OP's question is an intriguing one. People on a FICO quest are quick to kick to the curb any store cards, but since they are all revolving credit, it seems possible you could develop a long history with a few store cards, using them lightly for purchases, and see a credit history and improved FICO scores.
Whether one would have the psychological ability to actually stick with store cards for those long years, is another question. The mental price of admission to the "high FICO from store card only" club might be too much
They're all part of the credit mix. But I would assume major bank cards are weighted heavier.
That could be, but is that a result of the credit bureaus and FICO identifying the bank entities vs the store entities, which would imply there is a "good list" and a "bad list" somewhere in the Fair Isaac scoring model, which someone has to maintain.
or could it be the banks tend to end up with higher credit limits than any store would consider, and most normal people would pursue? Fingerhut at $20k? Does anyone have that in their signature?
Maybe fingercut(hut) CEO has $20,000 CL 
@longtimelurker wrote:From an interview with a FICO product manager (which I have quoted here but cannot find now), he stated that the credit mix calculation, while really focussing on a mix of mortgage, installment, credit card etc, also has a small component for having both store and bank cards, and it was slightly best to have both. He also said, if you have to have just one, it is slightly better to have just bank. So at that time, bank > store (but not a whole lot).
Now with FICO 08 I think that has gone away and you do not need store cards at all to get a perfect score. It's possible the same applies the other way round (you can get a perfect score with just store cards)
That would imply there is an identifier for store vs bank cards. Good to know.
Anyone have the phone number to app and recon Fingerhut? I need that $20k....