Store Card recommendation?

Anonymous · ‎09-01-2011

Can anyone recommend a store card for someone who had a charge off posted 8 months ago to rebuild? Or is this a complete impossibility?

I am trying to help someone get out of hot water with their damaged credit profile. They do have one account that is active through GEMB with a $100.00 CL.

It has not been used in over a year, but still reports that the account is open and in good standing.

My advice was to charge one small item a month and PIF. Maybe my advice is bad.

I posted a more detailed story in the rebuild forum, but no answers all day. Hope it was ok to post here as well (A much edited version).

EQ FICO is 606.

Thanks

jason86423 · ‎09-01-2011

Possibly JC Penney or Amazon.com (store card). I've seen on the boards some pretty bad credit profiles get approved at JCP.

Both are issued through GEMB and the past positive history with them may help.

8 months is pretty recent though so it is a crap shoot.

Anonymous · ‎09-01-2011

He was denied for JCP. I know....it is very recent. I am hoping the other card does not close on him and can use it to build. Will have to see.

I was thinking Target or Walmart? any possibility? I also heard Macy's perhaps? I don't want him to get too many inquiries in this position.

Denny33142 · ‎09-01-2011

JCP is one of the easiest store cards to get approved for, i have seen people with scores in the mid 500's get that one, the walmart card is actually slightly more difficult to get. i would suggest applying for Macy's, if he cannot get that one then i am afraid he is probably going to have to wait.

Also if he is rebuilding his credit then he should be using the credit card he has right now, maybe he can ask for a CLI.

jason86423 · ‎09-01-2011

Did they try HSBC or Cap One?

Most of the easier store cards tend to be issued by GEMB and if they were denied for JCP it is quite a possibility that the other ones would be denied also.

Anonymous · ‎09-01-2011

Cap1 is the CO so that is out.

Did not try HSBC. That would be Bestbuy store card I guess.

Thank you all for the input.

Wolf3 · ‎09-01-2011

@Anonymous wrote:
Cap1 is the CO so that is out.
Did not try HSBC. That would be Bestbuy store card I guess.

Thank you all for the input.

Cap1 is buying those accounts from HSBC. May want to rethink that one.

A secured card might be a better option.