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New Contributor
physignathus
Posts: 53
Registered: ‎04-26-2012
0

Saks Fifth World Elite Master Card

Hi,

 

I just got approved for Saks Fifth Store card with $2200 CL. I am really interested for Saks World Elite Master card but I found out that the store card just costed me 3 pulls to my credit report. I called and was told to upgrade to mastercard would cost me another 3 pulls. I dont know that I want to go that road or not because I am not sure that I can get World elite master card. Any advice is appriciated. Thanks all.

 

My credit file is : 732 EX, 721 FICO TR and 732 FICO EQ. AOA is about 1.4 years. Longest time is 4.2 years,

EX: 765, EQ: 766, TU: 764. AAoA: 2.4 y
Chase CSP 10k, Chase Freedom 5k, Chase United Club 13k, Paypal MC 32k, Discover 19k, Citi Advantage 15k, Amex BCP 24k.
Established Contributor
ccnewcc
Posts: 560
Registered: ‎09-29-2012
0

Re: Saks Fifth World Elite Master Card

Congrats on your approval.

 

 

IMO, 3 pulls are too many.  6 pulls are waayy too many.  

 

 

IMHO, Store cards are absoultly useless.

Valued Contributor
CreditScholar
Posts: 2,300
Registered: ‎01-22-2012
0

Re: Saks Fifth World Elite Master Card


physignathus wrote:

Hi,

 

I just got approved for Saks Fifth Store card with $2200 CL. I am really interested for Saks World Elite Master card but I found out that the store card just costed me 3 pulls to my credit report. I called and was told to upgrade to mastercard would cost me another 3 pulls. I dont know that I want to go that road or not because I am not sure that I can get World elite master card. Any advice is appriciated. Thanks all.

 

My credit file is : 732 EX, 721 FICO TR and 732 FICO EQ. AOA is about 1.4 years. Longest time is 4.2 years,


If you're only being approved for a $2200 CL on a store card, a WEMC isn't anywhere near within reach for you. Your scores and AAoA are all too low. You'll need to improve both and have a high income if you're looking for a WEMC.
FICOs: EX: 826, EQ: 817, TU: 810
Bank of America Privileges with Travel Rewards Visa Signature - $23,200 CL
Chase Sapphire Preferred Visa Signature - $12,700 CL
Chase United MileagePlus Club World Elite MasterCard - $26,500 CL
Citibank American Airlines Executive World Elite MasterCard - $22,500 CL
J.P. Morgan Ritz Carlton Visa Signature - $23,500 CL
Contributor
Elcid89
Posts: 567
Registered: ‎10-04-2012
0

Re: Saks Fifth World Elite Master Card

[ Edited ]

CreditScholar wrote:

physignathus wrote:

Hi,

 

I just got approved for Saks Fifth Store card with $2200 CL. I am really interested for Saks World Elite Master card but I found out that the store card just costed me 3 pulls to my credit report. I called and was told to upgrade to mastercard would cost me another 3 pulls. I dont know that I want to go that road or not because I am not sure that I can get World elite master card. Any advice is appriciated. Thanks all.

 

My credit file is : 732 EX, 721 FICO TR and 732 FICO EQ. AOA is about 1.4 years. Longest time is 4.2 years,


If you're only being approved for a $2200 CL on a store card, a WEMC isn't anywhere near within reach for you. Your scores and AAoA are all too low. You'll need to improve both and have a high income if you're looking for a WEMC.

Her scores are fine, and we know nothing about her income. Once you get above 720 it's more a factor of offered rate than one of approval.  I would imagine that her AAoA or possibly the depth of her file is what is killing her.  That or there is more to the scenario than we've been made aware of. That said, Saks isn't known for being very generous with CLs on its store cards. $2,200 is relatively generous from them, IMO.

 

And I have to say this - it's ridiculous to seek out these cards simply for the purpose of being able to say "I have this card". I see posting after posting which lead me to believe that people approach these cards like fashion accessories / a source of bragging rights, and that's just throwing money down the drain IMO.

 

Unless one travels frequently and can pass  a large spend through the card, the benefits don't begin to approach covering the AF. (Citi, for example, charges up to $450 per year for WEMC).

 

FICO 04 scores: 809 (EQ) 812 (EX) 818 (TU)

Amex Platinum NPSL - Citi HHonors Sig. $58k - BMW Ultimate $40k
Chase Sapphire Preferred $62k - Merrill Lynch + Signature $41k - USAA Rate Advantage $28k
NFCU Flagship Signature $50k - USAA Cash Rewards AMEX $28k
Citi Platinum Select / AAdvantage Signature $31k - Chase Amtrak Rewards World MC $41k

Senior Contributor
jsucool76
Posts: 3,736
Registered: ‎12-11-2011
0

Re: Saks Fifth World Elite Master Card

At the end of the day, just remember one thing. It is a capital one card...
;
Established Contributor
KIPPIE12
Posts: 620
Registered: ‎05-09-2009
0

Re: Saks Fifth World Elite Master Card


Elcid89 wrote:

CreditScholar wrote:

physignathus wrote:

Hi,

 

I just got approved for Saks Fifth Store card with $2200 CL. I am really interested for Saks World Elite Master card but I found out that the store card just costed me 3 pulls to my credit report. I called and was told to upgrade to mastercard would cost me another 3 pulls. I dont know that I want to go that road or not because I am not sure that I can get World elite master card. Any advice is appriciated. Thanks all.

 

My credit file is : 732 EX, 721 FICO TR and 732 FICO EQ. AOA is about 1.4 years. Longest time is 4.2 years,


If you're only being approved for a $2200 CL on a store card, a WEMC isn't anywhere near within reach for you. Your scores and AAoA are all too low. You'll need to improve both and have a high income if you're looking for a WEMC.

Her scores are fine, and we know nothing about her income. Once you get above 720 it's more a factor of offered rate than one of approval.  I would imagine that her AAoA or possibly the depth of her file is what is killing her.  That or there is more to the scenario than we've been made aware of. That said, Saks isn't known for being very generous with CLs on its store cards. $2,200 is relatively generous from them, IMO.

 

And I have to say this - it's ridiculous to seek out these cards simply for the purpose of being able to say "I have this card". I see posting after posting which lead me to believe that people approach these cards like fashion accessories / a source of bragging rights, and that's just throwing money down the drain IMO.

 

Unless one travels frequently and can pass  a large spend through the card, the benefits don't begin to approach covering the AF. (Citi, for example, charges up to $450 per year for WEMC).

 


+1  I couldn't have said it better myself!  

Current Score: EQ: 807 TU: 811 EX: 813 (Fico) 8/14
Goal Scores: 760 Across all 3-Finally


Citi TY Premier 36k| Discover 15.6k|BOA WMC 30.5k|Barclays Juniper Rewards 15k|Barclays Amex 20k| CapOne 15K|Chase Freedom VS 19.3k|Citi Dividend WMC 25k|FNBO 15.5k|CSP 22.1K|Chase Marriott 31.3k|Citi TYP 20K|Citi DP 16.5k|Sams Discover 10k|Chase IHG Select Visa 26k|Macys 5k|Sams MasterCard 10k|Barclay Arrival Plus WEMC 10k|Chae IHG WMC 26k|Citi Double Cash 10k|Chase MileagePlus Explorer 14k
Established Contributor
JonStur
Posts: 905
Registered: ‎12-25-2010
0

Re: Saks Fifth World Elite Master Card

Your profile might be too thin, do you have with high limit CCs?


Starting Score: TU 686 EX 641 EQ 690
Current Score: TU 779 EX 767 EQ 740
Goal Score: 800 Club

BCE $12.5K, 5/3 Sig $10K, Wally Discover 10K, Cash+ $9K Sam's Discover 10K, Freedom $6K, Zales $5.5K, More $5K, Cap one $5K, Barclay 2.5K, Household Plat $1.5K, Household Gold $1.5K, Credit One $1K, First Premier Plat $.675K First Premier Gold $.65K
Epic Contributor
Creditaddict
Posts: 22,037
Registered: ‎10-23-2007
0

Re: Saks Fifth World Elite Master Card

Really the only difference that might be good right off the bat with MasterCard vs. Store Card is that you don't have to spend a $1 to be considered "SaksFirst Premier" but with Store Card you don't get that level until you spend $1k.  Outside of that unless you spend a TON in store and want to push all purchases outside store to gift cards for in store the MC doesn't look like it's going to do anything special for you once you clear that $1k.  I can tell you I share card with friend and we have $2600 for 5+ years and I have asked for increase probably 6 times over the years because no HP and he has put in request at least twice while in store for MC upgrade and they have not budged!

Now with Cap1 and saying you took 3 HP for Store Card I would not dream of taking another 3 HP for atleast a year if not much longer becuase that is 3 other credit cards with better banks you could probably get!!

Fico Scores: EQ- 626 Overstck., TU 696 Walmart, EX 695 Chase (11-05-14)
You will have to put up Electric Fence to keep me in the garden!
Highest Limit: Navy Federal Cash Sigi Visa $50k (AU)
Lowest Limit: Target $200
66 Cards and Counting :smileytongue:
Senior Contributor
jsucool76
Posts: 3,736
Registered: ‎12-11-2011
0

Re: Saks Fifth World Elite Master Card


Creditaddict wrote:

Really the only difference that might be good right off the bat with MasterCard vs. Store Card is that you don't have to spend a $1 to be considered "SaksFirst Premier" but with Store Card you don't get that level until you spend $1k.  Outside of that unless you spend a TON in store and want to push all purchases outside store to gift cards for in store the MC doesn't look like it's going to do anything special for you once you clear that $1k.  I can tell you I share card with friend and we have $2600 for 5+ years and I have asked for increase probably 6 times over the years because no HP and he has put in request at least twice while in store for MC upgrade and they have not budged!

Now with Cap1 and saying you took 3 HP for Store Card I would not dream of taking another 3 HP for atleast a year if not much longer becuase that is 3 other credit cards with better banks you could probably get!!


+1

 

And you can't get a WEMC with a 2.2k limit, so those 3 HPs would be for the POSSIBILITY of getting a CLI and then POSSIBLY upgraded to the MC version. It isn't a sure thing at all. 

;
Frequent Contributor
bostonte
Posts: 263
Registered: ‎10-04-2009
0

Re: Saks Fifth World Elite Master Card

It's quite common to have a Saks store line of around $2,000 and have a World Elite $8-10,000 on the MC side. It's a weird account. Getting a $2,000 store line doesn't mean you aren't qualified.

 

What I would be more concerned about is getting approval for the MC upgrade, but being just under the line for World Elite and getting Platinum. You can get CLI's on this product and get to the $5,000 later, but stories of moving to World Elite afterwards once you increase are hard to find.

 

You know you took three pulls, or you're assuming it because Capital One manages the product now?

 

They have only ever pulled EQ for me and every post I've read.


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