Credit Cards

[MmeLucie]

My Equifax is 721 and I have had clean credit for 3 years now.

No lates nothing.

I only have 2 credit cards: a store visa and a capital one visa

I'm buying furniture that I have the cash to buy but want to take advantage of the cash back on this major purchase.

I know when you apply for credit you take  a hit to the score.

I kinda don't want to apply If I'm going to get a card with say a $500 limit. I want at least a $2500 or  $3000 limit.

Thoughts anyone?

[beamMEup]

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MmeLucie wrote:

Hi Mme!

My Equifax is 721 and I have had clean credit for 3 years now.  Remember that they will look at your entire CR - everything that is on your report, not just the last three years. 

No lates nothing.

I only have 2 credit cards: a store visa and a capital one visa  How old are they?

I'm buying furniture that I have the cash to buy but want to take advantage of the cash back on this major purchase.  Wise move to not carry a balance on this (or any other ccard).

I know when you apply for credit you take  a hit to the score.  Well, sometimes yes and sometimes no.  How many inquiries are currently on your reports?  Which CR does PB pull?

I kinda don't want to apply If I'm going to get a card with say a $500 limit. I want at least a $2500 or  $3000 limit.  In that case, and if you do decide to app for this card, you may want to consider app'ing at time of purchase.  Other folks with experience with PB will chime in and give you some great feedback.

Thoughts anyone?

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[LilMirth]

It sounds like the perfect time & situation to app, if you ask me. You've got the cash to PIF, and you're going after the rewards.

I just looked up the PB card (one of my most favorite stores, BTW, right along with Williams Sonoma), and it's underwritten by WFNNB. I have no idea what kind of limits they approve for PB, but you might try applying in the store, for instant credit, while making your purchase if you want to extract the maximum amount of credit line with them. Maybe someone else has some direct experience with that card in particular, and can give you an idea on credit lines.

I wouldn't worry too much about the INQ, or the new account hit. It doesn't sound like you're planning an app spree, and you don't already have a ton of cards. You might find that you get a net score gain by adding this store card to your mix.

ETA: beamMEup beat me to it... she's faster at the keyboard!

[MmeLucie]

My Equifax is 721 and I have had clean credit for 3 years now. Remember that they will look at your entire CR - everything that is on your report, not just the last three years. No lates nothing.

Thanks for answering!

Here is the follow up:

 I only have 2 credit cards: a store visa and a capital one visa How old are they?

Store Visa is three years old

Capital One is  balance zero 18 years old

Line of credit (bal zero is 22 years old)

I have one inquiry about 2 yrs ago. I have no idea which report PB pulls, will they tell me?

[jefftca925]

I'd think you'd be ok with your history.  I'd definitely apply in-store for better results.  Applying online definitely raises minor red flags on store cards.  I love Pottery Barn too but having a CC with them would be a death wish for me...LOL! 

[Creditaddict]

My dad has this card 3k limit... he had very high util when applying it was instant online... it asks security questions which if you answer correctly will then give you the credit line and account added to your online account instantly.

[MAstudent07]

My DS has the PB card since 2009. She applied online and was granted a $5,000.00 CL. She has been loyal to PB and loves having their card.

[waqaszm1]

the pottery barn card is issued by WFNNB which means a definite pull on your experian report. i would make sure that your experian report is clean and good.

[KimberH]

I love PB. Initial CL was $4000, they did an CL for $800 6 months later

[MmeLucie]

Okay guys....   I'm ready to go.

Both my cards have minimal balances, I'll go in the store apply see what happens.  If the limit doesn't cover everything I'll pay the balance cash.

It is all good!

Thanks for the support!