Credit Cards

[Gibran]

I pulled the most recent copy of my credit reports and they say the same thing, "what's affecting my score is not having any revolvong credit", so I applied for and was approved for a Cap One card a day ($300 CL, it's a start). I wanted to apply for a store card also, just to show different types of credit on my report, I already have a personal loan showing that's in good standing. I was thinking of applying for a Macys or Best Buy card since those are 2 of the stores I shop at most, I know store cards have high rates but it won't affect me since I'll be paying them off completely every month. Can anyone tell which of the 2 I would probably have a better chance of getting????? 1 CO from 3 years ago (Paid it)

09/28/2009 - EQ: 627 (should rise once an ongoing dispute is completed)

                   EX:????

                   TU: 660

                    Inq's - TU: 0, EQ: 2 (2009), EX: 5 (2, 2009),(3, 2008)

[haulingthescoreup]

I'd go with Macy's. The BB store card is hard to get; harder than their MC. (This is the reverse of many store cards.)

Macy's also likes to eventually offer their Visa (MC?) as well on down the road. When they do, both the store and bank versions will report, which is good.

Don't pay attention to store card APR's, because you never, ever, ever want to carry a balance on a store card. This is both to avoid outrageous interest rates and also to help your scores.

But I would hold off until the dispute on your EQ is settled. Get your reports as clean as possible before app'ing for anything. You'll increase decrease your chances of being declined, and you'll improve your chances of good CL's and APR's.



eta: Memo to self: coffee, then forums...

Message Edited by haulingthescoreup on 10-03-2009 08:05 AM

[Gibran]

Thanks I'll try to Macy's...Hopefully this dispute will corrected soon..Had a $27 balance on a utility bill that I never knew about when I moved from GA. to FL. and it was charged off in 2005, found out about it and paid it back in 2006, but the d@mn gas company (Scana Energy - GA.) reported it as a charge off in July and August of this year, so my EQ is showing a recent missed payment (which of course is inaccurate), I sent them letter showing I paid the account in full back in 2006. I'll wait a few months before trying Macy's

09/28/2009 - EQ:627 TU:660 EX:??

Message Edited by Gibran on 10-03-2009 07:45 AM

[haulingthescoreup]

Sounds like a plan!

It's amazing how many on the forums are dogged by stupid things like utilities and cable and cell phone service. They're not very good about letting you know about little oddball things like cable boxes not being credited as returned, but they're Johnny-on-the-spot when it comes to CO's and collections.

[creditwherecreditisdue]

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haulingthescoreup wrote:
Sounds like a plan!

It's amazing how many on the forums are dogged by stupid things like utilities and cable and cell phone service. They're not very good about letting you know about little oddball things like cable boxes not being credited as returned, but they're Johnny-on-the-spot when it comes to CO's and collections.

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When you close out a utility/cable/mobile phone account it is really important to obtain a receipted final bill reflecting a zero balance. It could be a credit life saver!

[creditwherecreditisdue]

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Gibran wrote:

Thanks I'll try to Macy's...Hopefully this dispute will corrected soon..Had a $27 balance on a utility bill that I never knew about when I moved from GA. to FL. and it was charged off in 2005, found out about it and paid it back in 2006, but the d@mn gas company (Scana Energy - GA.) reported it as a charge off in July and August of this year, so my EQ is showing a recent missed payment (which of course is inaccurate), I sent them letter showing I paid the account in full back in 2006. I'll wait a few months before trying Macy's

09/28/2009 - EQ:627 TU:660 EX:??

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Macy's will be a very good card for you.

(It is a Macy's Visa and they may offer it to you after you compile a good record as a store customer.)

Be sure to do your Macy's app in-store and not online. This is very important. A Macy's insider posting elsewhere states that accounts opened based on online app's are branded and will never receive a Macy's Visa offer.

Message Edited by creditwherecreditisdue on 10-03-2009 01:16 PM

[Gibran]

Thanks for the heads up...I'll make sure to do it in store, I've read some of the forum posts where everyone says it's better to apply in store rather than on line.