What is the shopping cart trick?

[mongstradamus]

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@PlasticOrPlastic wrote:

I regret using the shopping cart trick as much as I did.  I guess it was just the thrill of the pop up and basically the guarenteed approval that follows.  I got myself more cards than I need/want and now my AAoA is suffering as well as my newly aquired credit column on my reports.  I'd strongly suggest not using the shopping cart trick unless you really need the card...most of them are useless unless you shop with them frequently.  There are however a few VISA's that could be helpful. 

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I feel an lot of people try and get them when they are still in rebuilding phase, since they can't get approved for traditional credit cards. That is how it feels from what i have read. I don't shop at any of thsoe stores so it woudn't be smart for me to accept pre approvals

[PlasticOrPlastic]

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@mongstradamus wrote:

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@PlasticOrPlastic wrote:

I regret using the shopping cart trick as much as I did.  I guess it was just the thrill of the pop up and basically the guarenteed approval that follows.  I got myself more cards than I need/want and now my AAoA is suffering as well as my newly aquired credit column on my reports.  I'd strongly suggest not using the shopping cart trick unless you really need the card...most of them are useless unless you shop with them frequently.  There are however a few VISA's that could be helpful. 

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I feel an lot of people try and get them when they are still in rebuilding phase, since they can't get approved for traditional credit cards. That is how it feels from what i have read. I don't shop at any of thsoe stores so it woudn't be smart for me to accept pre approvals

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Thats what I did, low low low 600's nobody else looking my way so I app'd and app'd.  Now I'm in the 700's and wishing I hadn't.  Soon I'll be graduating and hopefully changing careers so maybe my express card will come in handy...

[mongstradamus]

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@PlasticOrPlastic wrote:

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@mongstradamus wrote:

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@PlasticOrPlastic wrote:

I regret using the shopping cart trick as much as I did.  I guess it was just the thrill of the pop up and basically the guarenteed approval that follows.  I got myself more cards than I need/want and now my AAoA is suffering as well as my newly aquired credit column on my reports.  I'd strongly suggest not using the shopping cart trick unless you really need the card...most of them are useless unless you shop with them frequently.  There are however a few VISA's that could be helpful. 

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I feel an lot of people try and get them when they are still in rebuilding phase, since they can't get approved for traditional credit cards. That is how it feels from what i have read. I don't shop at any of thsoe stores so it woudn't be smart for me to accept pre approvals

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Thats what I did, low low low 600's nobody else looking my way so I app'd and app'd.  Now I'm in the 700's and wishing I hadn't.  Soon I'll be graduating and hopefully changing careers so maybe my express card will come in handy...

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well hopefully you will learn from your mistakes :-)

[PlasticOrPlastic]

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@mongstradamus wrote:

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@PlasticOrPlastic wrote:

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@mongstradamus wrote:

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@PlasticOrPlastic wrote:

I regret using the shopping cart trick as much as I did.  I guess it was just the thrill of the pop up and basically the guarenteed approval that follows.  I got myself more cards than I need/want and now my AAoA is suffering as well as my newly aquired credit column on my reports.  I'd strongly suggest not using the shopping cart trick unless you really need the card...most of them are useless unless you shop with them frequently.  There are however a few VISA's that could be helpful. 

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I feel an lot of people try and get them when they are still in rebuilding phase, since they can't get approved for traditional credit cards. That is how it feels from what i have read. I don't shop at any of thsoe stores so it woudn't be smart for me to accept pre approvals

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Thats what I did, low low low 600's nobody else looking my way so I app'd and app'd.  Now I'm in the 700's and wishing I hadn't.  Soon I'll be graduating and hopefully changing careers so maybe my express card will come in handy...

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well hopefully you will learn from your mistakes :-)

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Oh I have and it wont happen again! 

[wacdenney]

Don't do it.  It's fun then and there, but you'll regret it later.

I'm closing my Sportsman's Guide card soon.  I never should have accepted it in the first place.  Live and learn...

[mongstradamus]

The only store card I ever applied for was Walmart because I wanted the free fico score ,nobody else offered it at the time,

[PlasticOrPlastic]

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@wacdenney wrote:

Don't do it.  It's fun then and there, but you'll regret it later.

I'm closing my Sportsman's Guide card soon.  I never should have accepted it in the first place.  Live and learn...

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+1,000,000!

[Creditaddict]

the only card I regret getting is the Buckle... but I love store cards so I may be a little different then some but they can do a number on your AA depending and looks like you searching for a lot of credit which causes some issues even if you are not using them

[Ghoshida]

I even opted out of pre-screening.

It was the brief period of my being opted in that saw a flurry of cards, from outright atrocities (like Credit One Platinum - that card looks good BTW) to pretty good ones (Freedom) and some in the middle (Slate). I'm happy about the Freedom, and kinda miserable about the Slate thing.

Only silver lining: Chase said they will do a no-hassle credit line merging once I pay down the Slate balance. Blech. I'll use the 0% APR for a while for the balance that I transferred. 

No more distractions

[longtimelurker]

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@wacdenney wrote:

Don't do it.  It's fun then and there, but you'll regret it later.

I'm closing my Sportsman's Guide card soon.  I never should have accepted it in the first place.  Live and learn...

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I think it depends on where you are in your credit history.    Basically using this, in general, gives you low CL lines without an inq.   If your credit history is good, you can almost certainly get cards with a much larger CL with a HP, so there is little point (IMO) in doing this.  But if you have very few active lines, and your score is preventing you getting good cards, it might be worth taking the AAoA hit just to increase your overall CL and history.    But!  Don't go overboard, there is no need to take EVERY card that pops up!