Nordstroms

[Anonymous]

I just got approved a few minutes ago for the Nordstrom Visa with a $10,000 limit. My scores are around 735-750 right now with approximately 8 inquiries including a few from a car purchase back in June. Hope that helps.

Oh, FYI, I applied online and got a 5-7 day message. I assumed it was a denial. I called and spoke to a CSR who suprisingly presented the good news. $10k on the first shot. I'll take it! 

Message Edited by UpUpUp on 03-06-2010 01:30 PM

[DI]

I think Nordstrom is very income sensitive.  Buying two outfits from them may max out your card.   It can stay and I won't take it. 

[Anonymous]

Ha, they are expensive for some things, but I do the majority, if not all, of my clothing/shoe shopping there so it works for me. I was stupid and got a macy's card not that long ago and I never use that one. I really regret that. Stupid waste of inquiry and bump on my average age but I'm pretty happy with the approval of the Nordstrom card.

Anyone know if this Nordstrom Visa Signature reports like other signature cards? I've never had a signature card before and tend to stay away from them, but since I don't carry a balance on any of my cards I don't think having one is going to hurt. I'm just curious. 

Message Edited by UpUpUp on 03-06-2010 05:28 PM

Message Edited by UpUpUp on 03-06-2010 05:33 PM

[DI]

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@Anonymous wrote:
Ha, they are expensive for some things, but I do the majority, if not all, of my clothing/shoe shopping there so it works for me. I was stupid and got a macy's card not that long ago and I never use that one. I really regret that. Stupid waste of inquiry and bump on my average age but I'm pretty happy with the Nordstrom card.

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Congratulations getting approved and getting the card you really wanted.  

[Anonymous]

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@haulingthescoreup wrote:
Sorry to hear about the denial.

Did it literally say "denied for a lack of indebtedness"? That's a new one on me.

I know there are people who've been approved for mortgages without car loans and with low or no util on their cards. (It does help to have cards, though.)

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That was me. I did not have a current or previous car loan (or any other installment loan for that matter) on my reports and zero util on my cards and got a mortgage no problem. I was also self-employed which is a whammy in itself. 

[Anonymous]

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@DI wrote:

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@Anonymous wrote:
Ha, they are expensive for some things, but I do the majority, if not all, of my clothing/shoe shopping there so it works for me. I was stupid and got a macy's card not that long ago and I never use that one. I really regret that. Stupid waste of inquiry and bump on my average age but I'm pretty happy with the Nordstrom card.

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Congratulations getting approved and getting the card you really wanted.  

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Thanks, I was expecting to get shot down with my inquiries and new accounts. Mortgage last April, car in June and the Macy's account.  Can't explain why they choose to approve me, maybe they know how much I shop there. I had a strange encounter last week. I bought a pair of shoes, used a different cc to pay (obviously) and a few days later got a call at home asking how the shoes were working out for me. I was so stumped on how they had my phone number and that they would even take the time and check on my shoe purchase. I do have an online account with them because I've shopped online many times, but when I purchased my shoes they didn't ask my name or phone number. Maybe just from using my cc they found me in their system?  Somehow they pulled up my information. In any case, maybe that has somehting to do with my approval?

[GST2008]

I have a Nordstroms question ... I have the store card and would like to get the Visa.  I'm sure there will be an Inquiry or three to do so, but if I'm approved, does my account convert over or will it show up as a new account and I would lose the history on the store card?

[Creditaddict]

it will convert and probably with a CLI. if you are not on tier 1 interest ask for that to be reduced too!

[manyquestions]

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@Anonymous wrote:

Anyone know if this Nordstrom Visa Signature reports like other signature cards?

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Yes, it reports like other sig cards.  Limit = 0.  Does show high balance.  EX and EQ put it in the catagory with AMEX charge cards so it does not count in utilization.  TU treats it like a revolving card and uses it in the utilization calculation with the high balance as the credit limit.  So the first time it reports on TU it will be treated like a maxed out card if you don't pay it before the statement date.  So if you charge $500 the first month and don't pay before the statement cuts, it is treated on TU as maxed out because the high balance will be $500 and the current balance will be $500.  Nordstrom reports whatever was the highest balance during the month as the high balance.  So if you charge $500 the first month and pay it off before the statement cuts it will report $500 for high balance and 0 for current balance so you will have 0 utilization on that card. If you want the full credit limit to show, you would have to charge that much and have it show up on your account for at least one day.  So you could buy coins from the mint, buy a bunch of nordie stuff and return it the next day, stuff like that.  It only matters for your TU utilization and hardly anyone pulls TU anymore so since EX and EQ treat it the right way it is not worth worrying about for me.

[Anonymous]

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@manyquestions wrote:

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@Anonymous wrote:

Anyone know if this Nordstrom Visa Signature reports like other signature cards?

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Yes, it reports like other sig cards.  Limit = 0.  Does show high balance.  EX and EQ put it in the catagory with AMEX charge cards so it does not count in utilization.  TU treats it like a revolving card and uses it in the utilization calculation with the high balance as the credit limit.  So the first time it reports on TU it will be treated like a maxed out card if you don't pay it before the statement date.  So if you charge $500 the first month and don't pay before the statement cuts, it is treated on TU as maxed out because the high balance will be $500 and the current balance will be $500.  Nordstrom reports whatever was the highest balance during the month as the high balance.  So if you charge $500 the first month and pay it off before the statement cuts it will report $500 for high balance and 0 for current balance so you will have 0 utilization on that card. If you want the full credit limit to show, you would have to charge that much and have it show up on your account for at least one day.  So you could buy coins from the mint, buy a bunch of nordie stuff and return it the next day, stuff like that.  It only matters for your TU utilization and hardly anyone pulls TU anymore so since EX and EQ treat it the right way it is not worth worrying about for me.

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Sorry for my delayed response. I appreciate the detailed answer. This is my first signature card so it helps to know how it will impact my credit score when I use it. I PIF but lately, since I'm not overly concerned about losing a few points here and there, I haven't been too worried about PIF before statement. I was wondering how this card reported for that reason.