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Regular Contributor
boireann
Posts: 189
Registered: ‎03-10-2008
0

Store card to improve my credit mix.

Right now I have a very thin file.   One personal loan in good standing, and one closed student loan in good standing.  I also only have one credit card that's also in good standing.    My AAoA is 5.5 years.  I'm looking for a store card to improve my mix of credit.

 

The only bad thing on my reports is a very old paid collection that's listing themselves as an account with 120 days late.

 

What are my chances with Macy's or Nordstrom's?  Those are about the only store cards I can see myself actually using occasionally.  I'd be okay with an inq hit for either of these two, but only if my chances of getting approved were 99%.  I just hate having to potentially waste an inquiry on the unknown.

 

 

 

Suggestions?  Opinions? 

 

thanks!

01/07 scores: Too scared to find out after looking at my free CRA reports
03/08 scores: TU: 660 EQ: 646 EX: 624
09/09 scores: TU: 735 EQ: 778 EX: ???
02/10 scores: TU: 779 EQ: 801 EX: 798 (home loan officer pull)
03/14 scores: TU 799 EQ: 809 EX: 817 (car loan credit union pull)
All that hard work paid off!!!! I'm now a happy home owner with an awesome interest rate!

CC Limits Garden Amex Clear $23000, USAA World Amex $15000, USAA Wold MasterCard $15000, BECU Visa $10,000, PenFed Visa $15000. Took a long time to get nice limits and low interest from that first app to BECU for $500 when I first started cleaning up my reports.
Senior Contributor
creditwherecreditisdue
Posts: 4,923
Registered: ‎04-19-2009
0

Re: Store card to improve my credit mix.


boireann wrote:

Right now I have a very thin file.   One personal loan in good standing, and one closed student loan in good standing.  I also only have one credit card that's also in good standing.    My AAoA is 5.5 years.  I'm looking for a store card to improve my mix of credit.

 

The only bad thing on my reports is a very old paid collection that's listing themselves as an account with 120 days late.

 

What are my chances with Macy's or Nordstrom's?  Those are about the only store cards I can see myself actually using occasionally.  I'd be okay with an inq hit for either of these two, but only if my chances of getting approved were 99%.  I just hate having to potentially waste an inquiry on the unknown.

 

 

 

Suggestions?  Opinions? 

 

thanks!


If I remember your scores correctly Macy's will work for you. Must app in-store. Do not app on-line. Your card is permanently branded and degraded if you do!

Regular Contributor
boireann
Posts: 189
Registered: ‎03-10-2008
0

Re: Store card to improve my credit mix.

Can you tell how much I dread getting a decline on anything?    Declines are so crushing after all the work I've put in to my reports!
01/07 scores: Too scared to find out after looking at my free CRA reports
03/08 scores: TU: 660 EQ: 646 EX: 624
09/09 scores: TU: 735 EQ: 778 EX: ???
02/10 scores: TU: 779 EQ: 801 EX: 798 (home loan officer pull)
03/14 scores: TU 799 EQ: 809 EX: 817 (car loan credit union pull)
All that hard work paid off!!!! I'm now a happy home owner with an awesome interest rate!

CC Limits Garden Amex Clear $23000, USAA World Amex $15000, USAA Wold MasterCard $15000, BECU Visa $10,000, PenFed Visa $15000. Took a long time to get nice limits and low interest from that first app to BECU for $500 when I first started cleaning up my reports.
Senior Contributor
creditwherecreditisdue
Posts: 4,923
Registered: ‎04-19-2009
0

Re: Store card to improve my credit mix.


boireann wrote:
Can you tell how much I dread getting a decline on anything?    Declines are so crushing after all the work I've put in to my reports!

 

None of us like being denied. Fortunately I have steered clear of that. But it will happen sooner or later.

 

If you are going to app Macy's just don't do it online.

New Contributor
Safe4Me2
Posts: 62
Registered: ‎07-30-2009
0

Re: Store card to improve my credit mix.

"If you are going to app Macy's just don't do it online."

 

Why not apply online.?

 

New Contributor
Safe4Me2
Posts: 62
Registered: ‎07-30-2009
0

Re: Store card to improve my credit mix.

Permanently branded and degraded?!?! Uh-oh.
Frequent Contributor
going2tdc
Posts: 367
Registered: ‎03-28-2008
0

Re: Store card to improve my credit mix.

I apped online, had the card for 1 year and went from $300 to $2400.

creditwherecreditisdue wrote:

boireann wrote:
Can you tell how much I dread getting a decline on anything?    Declines are so crushing after all the work I've put in to my reports!

 

None of us like being denied. Fortunately I have steered clear of that. But it will happen sooner or later.

 

If you are going to app Macy's just don't do it online.


Senior Contributor
creditwherecreditisdue
Posts: 4,923
Registered: ‎04-19-2009
0

Re: Store card to improve my credit mix.


going2tdc wrote:
I apped online, had the card for 1 year and went from $300 to $2400.

creditwherecreditisdue wrote:

boireann wrote:
Can you tell how much I dread getting a decline on anything?    Declines are so crushing after all the work I've put in to my reports!

 

None of us like being denied. Fortunately I have steered clear of that. But it will happen sooner or later.

 

If you are going to app Macy's just don't do it online.



 

Good for you!

 

According to a Macy's insider who posts elsewhere, if you app online your account is permanently branded and you will never get a Macy's Visa. There are other drawbacks as well. He should know, he works there. If your thinking about a Macy's card go to the store to get it! If you already have one there is nothing you can do about it.

 

Recent exchange:

 

Q: What was the largest store account GLI you ever saw?

A: Macy's store account, $60,000

 

Q: What was the largest Visa account CL you ever saw?

A: Bloomingdale's Visa, $100,000

Valued Contributor
debtisgood
Posts: 1,126
Registered: ‎03-25-2008
0

Re: Store card to improve my credit mix.

I applied online and I have always received generous GLI, and I don't care about the Macy's Visa. In my opinion, it isn't a great credit card. The Macy's store card is one of the top store cards for their generous lines and good store perks. I understand others may care about the Macy's Visa, I have just never seen the big deal about it.
Regular Contributor
boireann
Posts: 189
Registered: ‎03-10-2008
0

Re: Store card to improve my credit mix.

I'm definitely looking for more of a store card for the mix.

 

Very interesting that Macy's brands you if you app online.  I wonder if Nordstrom's or others do this as well?

01/07 scores: Too scared to find out after looking at my free CRA reports
03/08 scores: TU: 660 EQ: 646 EX: 624
09/09 scores: TU: 735 EQ: 778 EX: ???
02/10 scores: TU: 779 EQ: 801 EX: 798 (home loan officer pull)
03/14 scores: TU 799 EQ: 809 EX: 817 (car loan credit union pull)
All that hard work paid off!!!! I'm now a happy home owner with an awesome interest rate!

CC Limits Garden Amex Clear $23000, USAA World Amex $15000, USAA Wold MasterCard $15000, BECU Visa $10,000, PenFed Visa $15000. Took a long time to get nice limits and low interest from that first app to BECU for $500 when I first started cleaning up my reports.

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