We had a 76 gas card for about 2 years, it was opened at 800$(which really gives me a 240$ credit line at 30% useage-for us this =2 fill ups) and was at that limit when i closed it in June this year. I asked for a CLI on it 3X 2012-2014, they hard hit me on TU all three times and never would grant one. So, yeah i got a few junk Hard hits on TU from 76. Cost of building credit is how i look at it, and I also decided not to build with it because it just was not building.
I opened a chevron visa card in June(2014) after dumping 76, got a 1500$ opening line and i think the cap on it is 6000 at max growth down the road, so a healthy limit for use when traveling that will not put me over 30% when it is grown. I asked for Cli last month and got the "not long enough at your limit" but no hard hit.
The issues with the 76 card were due to 76, not underwriting.
And yes, having a gas card will positively affect your car insurance rates, it is factored in on your internal Lexis Nexis Insurance Report, that you are not permitted to see by the way, I have called to ask. There was an article in Forbes that I read back in 2009 covering it. Im sure there are more financial articles floating around about it here and there. But yeah. (we are 34 and 39, we have a 1996 1 ton PU, 2 drivers, our coverage limits are 1 Mill/1Mill/1 Mill w/500$ deductible,accident forgiveness,(Full Coverage), no tickets/accid, with USAA, for 85$ mo)
Before that Mine by myself was 200$ mo for a (25 years old at the time coverage was written)1981 Mercedes 300SD- PIF, that had minimum limits set by law 15/30/10(you know the kind that will get you sued in civil court if its not enough to cover the damage of whatever future accident may happen), husband was at 178.00 mo about the same coverage on a 1979 Datsun 4 Cycle 1/4 ton PU. My husband opened a credit line with chevron (store card in 2011) and his rates went down the following year after two renewals(USAA is every 6 months cycle), I got on the policy and then over the years we have beefed it up to the limits it is at now. We sold the datsun and mercedes and bought our 1 ton F350. Vehicle shift did not change the amount that much, so yeah I would say unofficially we saw results.
Personally I dont have time to waste on any card that is going to not work for me. So, if i sense I cant grow it to a healthy respectable usable limit I just axe it altogether, I tell my husband, If it doesnt grow its got to go.
I spent 5 years growing non growth cards before I found out what I had done, all the time I had wasted.
Do whats good for you based on your spending habits. Base it on your needs, itll work out.
