Regular Contributor
Posts: 104
Registered: ‎09-24-2008

Question about Store Cards

Hi I have a question about store cards. I have a Amazon Store Card, a Banana Republic Store Card, and Macy's Store Card. I was wondering if these affect your credit score like a credit card does. I also have a CapOne Credit card that I've had for over a year. I've had these 3 store cards for less than a year, and I have been thinking about paying them off and closing them. Is that a good idea? or should i leave them open to build a longer credit history? Should I close these Store Cards and apply for another Credit Card, say like BoA credit card. Would it help to apply for a secured BoA card? Any suggestions or advice is appreciated. Thanks!
Valued Contributor
Posts: 1,060
Registered: ‎02-13-2008

Re: Question about Store Cards

Pay them off...put them in a drawer and don't use them, but definitely do not close them....If there is one that you will never use again and just took it for the discount at the register then I would close it, but that would be it....Not enough history that the points wouldn't be recovered quickly.
Mortgage Lenders Mid-Score 778 I AM A HOMEOWNER!!!!! 30 Year 5% Fixed Rate, closed on 3/18/09
Valued Contributor
Posts: 2,374
Registered: ‎03-15-2007

Re: Question about Store Cards

Definitely don't close the store cards. Use one of them each month, in rotation (so each is used at least once a quarter). And when I say "use," I mean for small stuff. $10 is plenty.

You see, one key element of FICO scoring is paying bills on time. To oversimplify a tad, the more bills you have to pay on time, the better your score gets.
- - - -
in a credit-scoring postnuclear Stone Age...
Valued Contributor
Posts: 1,424
Registered: ‎07-24-2007

Re: Question about Store Cards

Damet..........yes, these store cards affect your credit score just like a regular cc does. I would not close any of them. Generally, it is not a good idea to close cards, unless keeping it is costing you $$. 
Of the ones you note, I only have experience with Macys. Use it - and pay the bill. They are good with cli's.
New York Yankees - 2009 World Series Champions. 27... and counting.....

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on include a FICO® Score 8, along with additional FICO® Score versions based on Experian or Equifax data (additional FICO® Score versions based on TransUnion data are not currently available on Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.