Store Cards that will grow?

[BrandonP]

I can't recommend the Sears store card. I've had one cli in 8 years.

I do suggest Home Depot, if you shop there. I went from 2k to 8.2k in one year. 

[Anonymous]

Just remember to apply in store for all store branded cards for max CL.

I have read that in different places on these forums, but can someone explain why this is so? I mean, why I would get a higher CL applying in store rather than online? 

Also...not to highjack the thread, but where on these forums can I find the answer to how many all purpose cards to have and how many store cards to have for maximum FICO score profile? 

[Anonymous]

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@Anonymous wrote:

Just remember to apply in store for all store branded cards for max CL.

I have read that in different places on these forums, but can someone explain why this is so? I mean, why I would get a higher CL applying in store rather than online? 

Also...not to highjack the thread, but where on these forums can I find the answer to how many all purpose cards to have and how many store cards to have for maximum FICO score profile? 

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I believe the theory is that by applying in store versus online the store has better verification of your identity...less chance of identity theft. Also the probability that you will be using some of this credit line at time of opening.

I'm not so sure anymore that this theory is really correct. I had thought for awhile that the reason Target gave me an opening CL of $5000 when so many others received $200 limits, was because I applied in store....recently however another poster spoke of receiving the same CL when he apped online.  

To your second question...you should check out the link below on high achievers reports. Though I really don't think there is a hard and fast rule here either...I believe it was Brydman who at one time posted of having a 790 score with only one credit card.

http://ficoforums.myfico.com/fico/board/message?board.id=ficoscoring&thread.id=12673

[Anonymous]

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@wmarat wrote:

That's not my experience. JCP is stuck at the same CL since 11/07. And this card works hard for my DW.

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@Anonymous wrote:

I haven't had any experience with other GEMB cards, but I'd have to say JC Pennys card is definitely a card I'd put in the catagory of "grows with you".

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I guess this is just another case of YMMV. I opened my JCP account 17 yrs ago.,used it once then forgot I had it. A couple of years ago I saw it still reporting on my CRs and called to ask for a new card. They sent the card, but dropped the limit to $100 from the $300 it had been. After 3 months,during which I used it once, I asked for and received a CLI...up to $1800. Several months later, after using it twice, I asked for and received another CLI, this time it went up to $2700. 

I've used this card 3 times in 2 yrs. and received CLIs both times I asked, from $100 to $2700. It could possibly be higher if I asked more often for CLIs...I was told I could ask every 3 months.

Message Edited by VEEnVEGAS on 06-15-2009 10:20 AM

[wndrwmn78]

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@haulingthescoreup wrote:
Best Buy store card.

But you have to be sure that you're going to qualify for the store card, and not get stuck with the MC. It's issued by HSBC. *shudders*

To my amazement, my J.Crew store card has grown, despite my terribly treatment of them back in the day. It's from WFNNB. *shudders again*

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Hauling, I have both the store card and the MC Reward Zone card. Both of mine are issued by HSBC...the store card being the "starter" card with a max CL of $500. I truly wish I could just close it, as the MC at least has a higher limit.

I know that Chase Circuit City cards converted to Best Buy cards - but is/was there an option to apply directly for a Chase-backed store card?

[haulingthescoreup]

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wndrwmn78 wrote:

Hauling, I have both the store card and the MC Reward Zone card. Both of mine are issued by HSBC...the store card being the "starter" card with a max CL of $500. I truly wish I could just close it, as the MC at least has a higher limit.

I know that Chase Circuit City cards converted to Best Buy cards - but is/was there an option to apply directly for a Chase-backed store card?

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I don't know. I did notice that when I try to check my balance now online, I have to specify whether I have the HSBC-issued or Chase-issued card.

My guess is that new apps go to HSBC. But that's just a guess. I'd call Chase and ask them.

And thanks for the reminder about the different tiers on the store cards. That does make a difference!

* * * * * * * * * * * * *

oh, btw, a new reason to hate HSBC: I went online to pay my Best Buy bill this afternoon around 5:45 Eastern (on 6/15), and they wouldn't allow me to choose tomorrow (6/16) as a payment date. I had to go with 6/17, which may or may not cause the payment to post before the statement date on the 19th. They keep ooching up the delays in payments posting, doubtless to try to get some late fees here and there.

I've always preferred paying my bills via the CCC site, but HSBC is about to convert me to bill pay from my bank's site.

[llecs]

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haulingthescoreup wrote:
oh, btw, a new reason to hate HSBC: I went online to pay my Best Buy bill this afternoon around 5:45 Eastern (on 6/15), and they wouldn't allow me to choose tomorrow (6/16) as a payment date. I had to go with 6/17, which may or may not cause the payment to post before the statement date on the 19th. They keep ooching up the delays in payments posting, doubtless to try to get some late fees here and there.

I've always preferred paying my bills via the CCC site, but HSBC is about to convert me to bill pay from my bank's site.

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You could have selected "Rush Payment" for a nominal fee. Their policy is that you'd need to pay by 4pm Eastern to get any payment to credit by the next biz day. With HSBC Direct x2, HSBC Visa, HSBC BB, and Orchard in our mix, you have to learn their policy in a hurry.

[haulingthescoreup]

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llecs wrote:

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haulingthescoreup wrote:

oh, btw, a new reason to hate HSBC: I went online to pay my Best Buy bill this afternoon around 5:45 Eastern (on 6/15), and they wouldn't allow me to choose tomorrow (6/16) as a payment date. I had to go with 6/17, which may or may not cause the payment to post before the statement date on the 19th. They keep ooching up the delays in payments posting, doubtless to try to get some late fees here and there.

I've always preferred paying my bills via the CCC site, but HSBC is about to convert me to bill pay from my bank's site.

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You could have selected "Rush Payment" for a nominal fee. Their policy is that you'd need to pay by 4pm Eastern to get any payment to credit by the next biz day. With HSBC Direct x2, HSBC Visa, HSBC BB, and Orchard in our mix, you have to learn their policy in a hurry.

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I hear ya.

I sort of knew that, and I have a note on my laptop that I have to pay by the 17th to be credited by the 19th, in order to get $0 t0 get reported, but I didn't extend that to paying even earlier. The application of knowledge always surprises me.

Shoot, I'm not giving them extra money to accept the money that I'm already giving them...

And I can't get my brain around the concept of a $15.00 fee on a balance of $43.48 as nominal!

[Anonymous]

Here is my experience with store cards:

JCPenney and Dillards have definitely been cards that grew over time.

JCP gave me an initial low limit (because I applied online) but when I went to the store to use it for the first time, I asked for a CLI (the store rep put me on the phone with their customer service) and they bumped me up to $1000 right there on the spot.  Then six months later I requested another CLI while I was on the website making a payment, and got bumped to $1500. I've had the card for just under a year. I've always carried a balance on the card (somewhere between 10% and 30% of the limit) so maybe they like to see that.

Dillards also started me out low (around $450 CL), and I've requested a CLI online every four months religiously over the last two years. I'm now at $1450 CL, and DH has a Dillards card that started out at $600 and is now at $1900 CL two years later.  They only recently started denying CLIs on our cards, but I think that's because I have had a $0 balance on mine since August 2008 and never use the card anymore - and DH has had a $0 balance since October 2008 with no useage since then either.

I believe both JCP and Dillards are GEMB cards...

Walmart cards however (also GEMB) have been a thorn in our sides. After getting measly $50-$75 CLIs every four months for the last two years, they suddenly reduced both of our cards to $100. No reason. Never had a late payment, always paid balance in full or carried a $0 balance. DH was pretty mad about it so he closed his account. I kept mine open, since I like to use it for the $.03/gallon discount on gas.

Dicks Sporting Goods card (another GEMB card) has NEVER given a CLI. We've been stuck at $500 for 1.5 years, and the website where you make payments on the account doesn't even have a link to click on to request a CLI. Drives me crazy.

American Eagle Outfitters card stinks. They gave me a $200 CLI, denied every single CLI I requested online, and then less a year later they reduced me to $100.  Not that I ever shop there...

Lowe's has been a good 'growing' card. DH started at $500 CL, and he called when the card was just over 6 months old and asked for a CLI in order to do some projects around the house - they bumped him up to $1250. Then four months later I did a CLI request on the website and got it bumped again to $1400. The card is just over a year old now.