Credit Mix Question...

[Swapmeet]

I was wondering if cards like the SG Visa and the Wal Mart MC still count as store cards, even though they are on a major network. I never upgraded my wally card because I didn't want to lose my only store card (if the SG visa doesn't count). I know that it doesn't matter much in the grand scheme of things, but I am curious.

[s_haliz]

Normally credit cards falls into following categories: 

1. Pure cards issued directly by issuer (like AMEX, Discover); 
2. Bank issued cards (like Chase Freedom VISA, XYZ Master Card, etc.); 
3. Pure Store Cards that can only be used at sores (like Mattress Firm...It won't have MasterCard or Visa associated with them)

4. Store Cards that can also be used anywhere where the accept it (like TJX Master card that can used both at TJX and elsewhere where MasterCard gets accpeted);
5. Co-branded (like Marriott Rewards by Chase Visa Signature); 

In my opoinion category 3 are really store cards. I could be wrong. Others can chime in. 

[myjourney]

Weather its a CC or store card both are considered revolving accounts in Fico eyes 

[Swapmeet]

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@myjourney wrote:

Weather its a CC or store card both are considered revolving accounts in Fico eyes 

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So you are saying that there is no distinction between store cards and major credit cards as far as Fico is concerned?

[lg8302ch]

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@Swapmeet wrote:

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@myjourney wrote:

Weather its a CC or store card both are considered revolving accounts in Fico eyes 

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So you are saying that there is no distinction between store cards and major credit cards as far as Fico is concerned?

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This would be my guess because I never had a single store card and could cross the 800 barrier on Fico if I do not add new accounts ...really doubt my score would be any different if I had a store card instead of only major credit cards

[Closingracer99]

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@Swapmeet wrote:

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@myjourney wrote:

Weather its a CC or store card both are considered revolving accounts in Fico eyes 

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So you are saying that there is no distinction between store cards and major credit cards as far as Fico is concerned?

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There isn't Nothing says "store card" on my reports. The only differences I see is they are called "charge cards" when they really arent

[H14]

Edit: Nevermind, was wrong.

[Closingracer99]

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@H14 wrote:

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@Closingracer99 wrote:

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@Swapmeet wrote:

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@myjourney wrote:

Weather its a CC or store card both are considered revolving accounts in Fico eyes 

---

So you are saying that there is no distinction between store cards and major credit cards as far as Fico is concerned?

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There isn't Nothing says "store card" on my reports. The only differences I see is they are called "charge cards" when they really arent

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They should be listed as Retail accounts on your report.

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They don't and isn't a "difference" between Store cards and Credit cards as far as CR's matter 

[myjourney]

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@Swapmeet wrote:

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@myjourney wrote:

Weather its a CC or store card both are considered revolving accounts in Fico eyes 

---

So you are saying that there is no distinction between store cards and major credit cards as far as Fico is concerned?

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Precisely there's no difference in a store card and a credit card in Fico eyes and I've never seen one listed as retail....all I've ever seen them listed as a charge account which is the same as a CC

[Swapmeet]

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@myjourney wrote:

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@Swapmeet wrote:

---

@myjourney wrote:

Weather its a CC or store card both are considered revolving accounts in Fico eyes 

---

So you are saying that there is no distinction between store cards and major credit cards as far as Fico is concerned?

---

Precisely there's no difference in a store card and a credit card in Fico eyes and I've never seen one listed as retail....all I've ever seen them listed as a charge account which is the same as a CC

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Interesting.....  I guess keeping my wal mart card as my only true store card is worthless then.....