@Anonymous wrote:
You get an account without a HP sure. But you also take a hit on your AAoA for the new account. Inquiries dont affect scores that much, but depending on the circumstance taking an AAoA drop can hurt pretty badly. I definitely wouldnt recommend it unless it is a card you really want/need. I sure wouldnt do it for the sake of just getting some new cards, which is what it is used for a lot around here. It usually isn't worth it for a limited use card in my opinion.
That's a very good point. Shopping cart trick can be used to feed the addiction when no more lenders will accept you with a HP for the typical Visa/MC etc.
Just like anything else it IMO needs to be very moderate. If there's a store you shop a ton at perhaps the store card makes sense. That said, I have no actual store cards because I haven't found one exciting enough for me to really need. All it would do is probably make me think I'm getting more deals and spend more at the store otherwise, defeating the purpose. The closest one I have is the BJ's Mastercard which is not really a store card, though I only use it there.
