Sears Credit Card Approval Odds

[daybreakgonesXe]

Hey everybody! So my boyfriend is planning on applying for a sears credit card when he gets his new tires this weekend. However, his credit isn't as nice as mine, but still decent. I'm a little worried over his approval odds, however. This is his profile:

Student Loan: 8/2010 $1,152/$1,867

Auto Loan: 7/2011 $$7,288/$9,581

Discover Card: $846/$1,500

Utilization 56%, AAoA of 1 year 5 months, oldest account 2 years and 4 months, CK score of 657 and VantageScore of 721, 6 inquiries on TU. Sorry I don't have any other scores, i'm lucky if i'm able just to check credit karma XD the boyfriend isn't much of a credit junky as I am...

So, from what i see there's a Sears card and a Sears mastercard. Questions: When he applies in store, is it one application? (Like first they'll check if you qualify for the mastercard, but if not, you get the store card? Or vise versa?) Or is there two separate applications for the mastercard and regular store card? What are his chances of approval, since the card is backed by Citi? My thinking is not so good, but you never know. I'd like to hear from some members who maybe have the card or applied recently

Thanks all!

[shols44]

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@daybreakgonesXe wrote:

Hey everybody! So my boyfriend is planning on applying for a sears credit card when he gets his new tires this weekend. However, his credit isn't as nice as mine, but still decent. I'm a little worried over his approval odds, however. This is his profile:

Student Loan: 8/2010 $1,152/$1,867

Auto Loan: 7/2011 $$7,288/$9,581

Discover Card: $846/$1,500

Utilization 56%, AAoA of 1 year 5 months, oldest account 2 years and 4 months, CK score of 657 and VantageScore of 721, 6 inquiries on TU. Sorry I don't have any other scores, i'm lucky if i'm able just to check credit karma XD the boyfriend isn't much of a credit junky as I am...

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IMO, 56% util is pretty high. Sears is through Citi. They can be pretty stingy. Plus, I think its worth it knowing his actual FICOs. The Transrisk and Vantage scores posted above are useless. I would suggest joining using the 7 day trial here to at least get a FICO score.  Then use the credit pulls database and see what the the approved folks look like. 

However, if you are close to firestone, I would suggest them. They have a super easy approval threshold and you can apply online or instore. 

Goodluck, and don't waste a HP lol. 

[jllunas]

Even when my credit was perfect. For some reason i always had a hard time getting the sears card.If they do not approve you for the mastercard version they might approve you for just the sears in store one.I agree. Try the free 7 day fico score and that would give you a better idea for where he is at with the approval. Has he ever considered discount tire credit card for tires? There pretty easy to. But of course with the sears card you could buy allot more other things. 

[trix_r_4_kids]

I concur with shols44 -- try for a CFNA (Firestone) card if you are looking to buy tires.  They offer 6 months 0% financing for purchases over $249 and are an easier approval.

[daybreakgonesXe]

Good ideas! Ill recommend that to him, thanks! There is a firestone in his town, just Sears is literally right down the road so thats why he tends to go to it. Next time i catch him we'll give his Ficos a whirl. Also, depending on what day hes getting tires, i may add him as an authorized user on my Shell card, which will bump his AAoA a little, lower his utilization slightly (did the calculations, only lower it to 38%, but better than that 56%)., and is also issued by Citi. I wouldve loved to add him to a higher limit card, but all of those have already reported this month and will be no use by the time he applies. Shell is suppose to report Saturday on statement day, at least for equifax and experian. Transunion tends to take a while.

[Mike360]

I'd get the util down to 10-20% before app'ing. I don't know how i got approved but i did 6 years ago and all i had was a car loan and a cap one $500 card. In my area they pulled both EQ for the original application and also pulled EQ for CLI.

[Wolf3]

I think he has a good chance for store card, maybe not MC.   May depend on income, since he has no negatives.

IMO, you should apply for credit at stores you like to shop, not shop at stores based on their credit card.