Nordstrom Retail Store Card vs. Nordstrom Visa Signature (2013)

[Golden75]

For background, I am trying to build my credit and ultimately increase my credit score because  would like to purchase a home in a year or so.  My credit score has been stagnate.  I have one CC - Captal 1 with a $1K credit limit with 50% utilization now and I plan to pay it down to about 20% by September (2013).  Other than this I have one student loan.  Car paid off over a year ago. 

First, beware I have a lot of questions.  I do not want to waste an inquiry because I currently have 0 and have not applied for any new credit since 2008 which is when I consolidated my student loans (none the last 2 years for sure).  So, I need to be strategic and I don't want to bother if all will happen is rejection.  My understanding is that Nordstrom pulls from Equifax which is my highest MyFico score right now (718).  Is this score considered acceptable enough and what type of credit limit should I expect?  

However, my TU MyFico score is 664 and MyFico Experian is 636.  What is the likelihood of me getting approved for a Nordstrom Retail card vs. Nordstrom Visa Signature?  Which is the better card?  I would assume NVS since you can use it outside of a Nordstrom store.  In addition, would I be better off waiting closer to the Winter holidays to apply for the card to increase my chances for approval especially if I indicate I'd like to use the card for gifting and it's my favorite retail store.

I know I need to pay down my Capital One before I even apply which will be in September.  However, should I wasit until maybe November to apply?  When I apply, should I apply via phone to increase success of approval or in-store?  In addition, when Nordstrom pulls your credit score and report, do they automaticallly decide which credit card you qualify for or do you have to apply for each card individually which means one may be looking at multiple inquiries from one creditor (Nordstrom). Last, does Nordstrom report these cards to all three credit bureaus as well as the credit limits?

I do not want to waste an inquiry because I currently have 0 and have not applied for any new credit since 2008 which is when I consolidated my student loans.

TIA!

[lajntx]

Not that I can help you much, but when it comes to Nordstrom arent they very picky about the number of inquiries one has on their credit report at the time of the initial application? It seems like I read once on here that anything over 2 inquiries was an auto reject?

Maybe someone else whom has gotten one of those cards recently can give better details

[jumpinjax]

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@Golden75 wrote:

For background, I am trying to build my credit and ultimately increase my credit score because  would like to purchase a home in a year or so.  My credit score has been stagnate.  I have one CC - Captal 1 with a $1K credit limit with 50% utilization now and I plan to pay it down to about 20% by September (2013).  Other than this I have one student loan.  Car paid off over a year ago. 

First, beware I have a lot of questions.  I do not want to waste an inquiry because I currently have 0 and have not applied for any new credit since 2008 which is when I consolidated my student loans (none the last 2 years for sure).  So, I need to be strategic and I don't want to bother if all will happen is rejection.  My understanding is that Nordstrom pulls from Equifax which is my highest MyFico score right now (718).  Is this score considered acceptable enough and what type of credit limit should I expect?  

However, my TU MyFico score is 664 and MyFico Experian is 636.  What is the likelihood of me getting approved for a Nordstrom Retail card vs. Nordstrom Visa Signature?  Which is the better card?  I would assume NVS since you can use it outside of a Nordstrom store.  In addition, would I be better off waiting closer to the Winter holidays to apply for the card to increase my chances for approval especially if I indicate I'd like to use the card for gifting and it's my favorite retail store.

I know I need to pay down my Capital One before I even apply which will be in September.  However, should I wasit until maybe November to apply?  When I apply, should I apply via phone to increase success of approval or in-store?  In addition, when Nordstrom pulls your credit score and report, do they automaticallly decide which credit card you qualify for or do you have to apply for each card individually which means one may be looking at multiple inquiries from one creditor (Nordstrom). Last, does Nordstrom report these cards to all three credit bureaus as well as the credit limits?

I do not want to waste an inquiry because I currently have 0 and have not applied for any new credit since 2008 which is when I consolidated my student loans.

TIA!

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google 'credit pulls' and then click on the very first link.  Enter Nordstrom in the creditor field only.  Then press search.  You will see the recent approvals for various reports as reported by ppl for this card.  Should help, hopefully.  gl

[Golden75]

Thanks for the info!

I've had my Capital One credit card for several years.  My car.auto loan was paid off over a year ago. I currently do not have any inquiries on my credit profile.

Well, I will work to pay down my credit card for sure.  I

[09Lexie]

@broseph23

Is correct on all points.

[bobkabob]

Like previously said, Nordstrom bank is inquiry sensitive. Had to open via recon because of three inquiries in the last 6 months. They pulled Equifax* for me.

Apply in store with a salesperson. This is how it works. On their register or mobile device, they apply you for "Nordstrom Credit Products" and after the application is processed, it will either deny you, approve you for the retail card, or give you a choice of the retail card or Visa Signature. So this will only be one application giving you a choice of products.

I would personally prefer the Visa since you earn 1 pt per net dollar outside of Nordstrom as well as the 2 pts in the world of Nordstrom (not including double and triple points events). So go apply in store and see what happens!  If it doesn't work out you can get the debit, which withdrawals from your checking account and get the same perks! Be sure to spend $100 the day you open the card to receive a $20 bonus Nordstorm Note in the mail!

Good luck!!!