@Erusidhion wrote:
A lot of dislike for store cards which is understandable because of their limited use and you only use them once in awhile. But I figured they were always beneficial to have because they helped lower your utilization and with them having a higher starting limit/easy CLIs; perhaps it would force other Store Cards/Bank Cards to increase their limit to match. I have one store card and it isn't one I regret. It's a CFNA card that is only useable at my local Ford dealership with a $2200 limit. I mainly use it for oil changes and any major repair work that I don't trust a non-dealership mechanic to do right.
At some point later on I'd probably get store cards down the road and sock drawer them until I use them 3-5 times a year. If they close it due to non-use, whatever. But it still thickens your file in the long run. All these people on myFICO that recently gained tons of store cards at once + starter/rebuilder/higher tier cards are going to have such a thick file after two years. You won't even have to worry about inquiries when you apply anymore. Thick file, good score, utilization at 1-30% and you're probably approved for whatever you want by then.
In manual review..Don't think for a second that the analyst isn't looking at what % of credit is being used on bankcards vs store cards.
The theory that the utilization padding even works in this instance, is just that. A theory. You just might be able to fool the computer, but may the almighty bless you if you think you can fool the analyst. Even if they don't say anything about it.
