Thanks you for the advice My thinking behind it is that because it's actually a charge card, it would improve my credit mix. Do you think it would help?
No, this is a common misunderstanding. It's not a charge card that helps your mix; it's a retail card. This means a card with only the logo of the store or gas company on it; no Visa/ MC/ Discover/ AmEx.
Store cards used to be called charge cards back when you were expected to pay them off every month. Now they're revolving. Anyway, for some reason they do help your mix. Classic AmEx charge cards (Green, Gold, etc.) do not --they're just another tradeline. A kinda crazy tradeline at that.
* 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
myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.