Is it beneficial to convert an Ann Taylor CC to a Mastercard?

[SFernandez13461]

I opened an Ann Taylor CC about six months ago, and the last few times I've used it the cashier has asked me if I'd like to apply to convert it to a Mastercard and save an additional 15%. I've declined each time as it's my habit to do so whenever anyone asks me to apply for anything, but I wondered if it might be beneficial for my credit profile to convert it to a Mastercard.

The APR on the store card is much higher than my CCs, so I wouldn't be using it to carry a balance unless it was lowered significantly after conversion. 

Any thoughts?

Here's my current profile:

US Bank Ralphs Rewards Visa - 6000

US Bank Platinum Visa - 4000

Wal-Mart Discover - 1000

Target Red Card - 200

Macys - 1000

Ann Taylor - 500

NY&CO - 200

Approximately 13000 in student loans

Thanks.

[p-]

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@SFernandez13461 wrote:

I opened an Ann Taylor CC about six months ago, and the last few times I've used it the cashier has asked me if I'd like to apply to convert it to a Mastercard and save an additional 15%. I've declined each time as it's my habit to do so whenever anyone asks me to apply for anything, but I wondered if it might be beneficial for my credit profile to convert it to a Mastercard.

The APR on the store card is much higher than my CCs, so I wouldn't be using it to carry a balance unless it was lowered significantly after conversion. 

Any thoughts?

Here's my current profile:

US Bank Ralphs Rewards Visa - 6000

US Bank Platinum Visa - 4000

Wal-Mart Discover - 1000

Target Red Card - 200

Macys - 1000

Ann Taylor - 500

NY&CO - 200

Approximately 13000 in student loans

Thanks.

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Let me know if you do - I'm curious whether that is considered a product change and retains the history, or if it closes the account and opens a new one.  My wife has had one of their store cards for years, and it sits unused.  She could use a revolver with history.

[SFernandez13461]

Will do.

Just in case it's helpful to your wife, she can use the card at Loft as well.

[p-]

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@SFernandez13461 wrote:

Will do.

Just in case it's helpful to your wife, she can use the card at Loft as well.

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thanks - We live hours away from the nearest store...  so it's a bit tricky.  She only has one revolver that isn't a store card besides all the AU cards of mine.  If that works it would be a major win for her file.

She actually has three WFNNB retail cards showing as open for NY and Co, Dress Barn, and Ann Taylor... all gathering dust.

[Creditaddict]

I usually would not trust a CSR Rep but I would call and ask if you are pre-approved for the upgrade or when they ask you in store are you actually just applying for a new account, not really upgrading?  GE is known to tell people they can put in request to upgrade to visa/amex/discover (depending what store) and then only to turn around and either get flat out denied or get another store card, another HP, and another new Credit Card, Credit line... etc.

or at least in past they have been this way (Chevron, Walmart I have personal experience).

[colindidit]

Usually for GE it closes the old account because you get a new number.. I work AE who uses the same promotion. It is always a HP . All GE cards start with a 60 etc when ever someone got the visa it was always started with a 4 and it was a new account.. I do believe you retain the account age but it shows as a new acct and once again requires a hard pull. I asked people all the time if they wanna save 15 percent and I always tell then the truth it's a hard pull.. The visa is a rarity and most upgrades unless you have perfect credit always get denied.. I don't imagine much difference with Ann Taylor

[Creditaddict]

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@colindidit wrote:
Usually for GE it closes the old account because you get a new number.. I work AE who uses the same promotion. It is always a HP . All GE cards start with a 60 etc when ever someone got the visa it was always started with a 4 and it was a new account.. I do believe you retain the account age but it shows as a new acct and once again requires a hard pull. I asked people all the time if they wanna save 15 percent and I always tell then the truth it's a hard pull.. The visa is a rarity and most upgrades unless you have perfect credit always get denied.. I don't imagine much difference with Ann Taylor

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I was giving GE as an example.... Ann Taylor Credit Card is through Commenty (WFFNB as better known)

[SFernandez13461]

Thanks for your input. I figured it would probably be a hard pull which is another reason I've hesitated. When they opened the account they pulled EQ which is my ugliest report by far, so I doubt I'd get converted at this point anyway. I'm just wondering if it would be better in the long run to have another CC rather than just a store card.

[colindidit]

I saw after I posted. Sorry using phone..

[Wolf3]

What other co-branded cards does Comenity Bank offer? Most are just store cards.