New York and Company Mastercard Approval!

[Anonymous]

I applied for this card on a whim because i wanted to replace a credit line that was closed by the issuer.  To my suprise I was approved for a $1500.00 CL!

This is my highest limit to date!  Better than my Discover, Citit and Bank of America cards. Now I will close out some of the those lower limit store cards that I have.

I don't know what the APR is yet, but there are three tiers.  The card is issued by WFNNB and I have heard a lot of negative things about this issuer, but I also have a VS card with them and they have been great.  So if you do are like me with a limited credit limit history and looking to add a credit card, this may be a good option.

[keith021]

Who did they pull? How long have you had credit? How quick was the response?

Thanks 

[Anonymous]

I believe they pulled EX.  (only assuming because that is who they pulled for my VS card).  My first card was from Citi about 18 months ago and then in April of this year  I applied for a few more cards.  As of last week when I checked my FICO scores, my AAofA was 8 months.  I am sure that it has gone down because I recently applied for Kay's, Wal-Mart, Chevron, Apple Financing Card and America Eagle and was approved for all.  The approval was instant.

[score_building]

CMS2012 wrote:

I applied for this card on a whim because i wanted to replace a credit line that was closed by the issuer.  To my suprise I was approved for a $1500.00 CL!

This is my highest limit to date!  Better than my Discover, Citit and Bank of America cards. Now I will close out some of the those lower limit store cards that I have.

I don't know what the APR is yet, but there are three tiers.  The card is issued by WFNNB and I have heard a lot of negative things about this issuer, but I also have a VS card with them and they have been great.  So if you do are like me with a limited credit limit history and looking to add a credit card, this may be a good option.

congrats!  although ideally you'll make application based on thoughtful consideration, this one seems to have paid off for ya  

unless they charge fees consider keeping them open since they can help with util and your ratio of cards with a balance... in other words they may be of more use to you open than closed.

[score_building]

CMS2012 wrote:
I believe they pulled EX.  (only assuming because that is who they pulled for my VS card).  My first card was from Citi about 18 months ago and then in April of this year  I applied for a few more cards.  As of last week when I checked my FICO scores, my AAofA was 8 months.  I am sure that it has gone down because I recently applied for Kay's, Wal-Mart, Chevron, Apple Financing Card and America Eagle and was approved for all.  The approval was instant.

you have 6 store accts. now, only one is needed for scoring purposes, unless amex/discover/mastercard/visa you're good without adding any more.

[Anonymous]

Thanks!  The reason why I want to close some of the lower limit cards that I have is because they are affecting my score...now I can't remember if that information came from MY FICO or Credit Check Total.

I have to be honest, when I applied for these cards, it was out of anger for the issuer to closing my account and because when I tried to request CLI's from my existing cards from Discover, BofA,n Citi and Cap 1 would not budge on giving me increases because they said my credit history was too short.  

I did catch the "app fever" after the first approval   but I am done apping for now.  There are only 2 more cards that I want, AMEX and Nordstrom's.

I did app for the Nordstrom's card was declined because of too many inquiries!  I should have went for that one first...lesson learned. 

[Anonymous]

I actually have a few more...Macy's State Farm Visa, but are correct, I AM DONE APPING!

[Jazzzy]

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@score_building wrote:

you have 6 store accts. now, only one is needed for scoring purposes, unless amex/discover/mastercard/visa you're good without adding any more.

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Hi score building...are you sure you need a store card for scoring purposes? I've not seen this confirmed by anyone pulling their FICOs, and I'm curious to find out.

I understand the need for "credit mix"....revolving, installment, and mortgage....but I've not seen "not having a store card" offered as a FICO negative.

[score_building]

LynetteM wrote:

score_building wrote:

you have 6 store accts. now, only one is needed for scoring purposes, unless amex/discover/mastercard/visa you're good without adding any more.

Hi score building...are you sure you need a store card for scoring purposes? I've not seen this confirmed by anyone pulling their FICOs, and I'm curious to find out.

I understand the need for "credit mix"....revolving, installment, and mortgage....but I've not seen "not having a store card" offered as a FICO negative.

Hi LynetteM,

it has been debated back and forth...popular wisdom still indicates at least 1 store OR gas card can help with mix (and as such may be a positive score factor)