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I have 2 accounts reporting as "revolving charge accounts" and 1 account reporting as a credit card. 1 more credit account should be added soon.
I was denied credit because I didn't have enough credit cards. This was when I had 1 "revolving charge account". Now that I have more revolving accounts, will that be sufficient for a Barclaycard Rewards MasterCard credit card?
@cbarret2 wrote:I have 2 accounts reporting as "revolving charge accounts" and 1 account reporting as a credit card. 1 more credit account should be added soon.
I was denied credit because I didn't have enough credit cards. This was when I had 1 "revolving charge account". Now that I have more revolving accounts, will that be sufficient for a Barclaycard Rewards MasterCard credit card?
Only as far as how they are reported by the individual CRA. Retail CCs typically get this designation (but not always) as compared to major bank cards. Which CC's in your file are in question?
Revolving Charge Accounts:
Amazon.com Store Card: CL = $600
CareCredit : CL = $5,000
Credit Cards:
Bank of America: CL = $700
Not on Credit Report Yet:
Capital One: CL = $500
@cbarret2 wrote:Revolving Charge Accounts:
Amazon.com Store Card: CL = $600
CareCredit : CL = $5,000
Credit Cards:
Bank of America: CL = $700
Not on Credit Report Yet:
Capital One: CL = $500
This makes sense. Amazon and CareCredit (GECRB) are essentially accounts that can have flexible/long term revolving payment plans in addition to the standard revolving terms. They are not considered/classified as major bank cards, simply retail-backed credit accounts. Your BOA and Capital One will be coded as standard revolving credit cards from major banks/CUs.