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Does maxing out a store card Have the same affect as maxing out a cc?

Frequent Contributor

Does maxing out a store card Have the same affect as maxing out a cc?

Was just wondering because I brought a $450.00 Dryer on a $500.00 CL with Home Depot. I'm hoping this is not going to kill my score. If I take advantage of the 12 mth no payment and no interest. at least for a little while anyway. E!
June 2017= EQ 658 TU 684 EXP 688
Never Give Up!!
Message 1 of 7
6 REPLIES
Moderator Emeritus

Re: Does maxing out a store card Have the same affect as maxing out a cc?

yes it does.
Message 2 of 7
Frequent Contributor

Re: Does maxing out a store card Have the same affect as maxing out a cc?

Oh my.. guess I'll be paying this off in a hurry than! Thanks E!
June 2017= EQ 658 TU 684 EXP 688
Never Give Up!!
Message 3 of 7
Senior Contributor

Re: Does maxing out a store card Have the same affect as maxing out a cc?

You could try hitting up HD for a CLI. If you could get $1K or $2K, that's drops your util down quite a bit.
 
They may or may not report the purchase right away. Wife and I bought a new sofa and applied instore for a Levitzs CC. They've reported the CC, the CL, but not the purchase--at least not yet. It's a $5K CL and a $790 purchase so util would only be 16 percent once they report the purchase.
 
Message 4 of 7
Frequent Contributor

Re: Does maxing out a store card Have the same affect as maxing out a cc?

Their already reporting. {in less than a week} Guess I should of tried for the cli when I was first approved. The acct has been open for 30 days guess its to soon to try for a cli. E!
June 2017= EQ 658 TU 684 EXP 688
Never Give Up!!
Message 5 of 7
Senior Contributor

Re: Does maxing out a store card Have the same affect as maxing out a cc?

Most they can say to a request for a CLI is no. You might call the number on your CC and try to leverage the purchase into a CLI.
 
"Hi, I'd like to see about getting a CLI. Reason I'm requesting one is I got the CC, and I bought this new dryer from HD.
 
Please understand, I'm very happy with the dryer, I've shopped at HD for years, and I'm very happy with HD. Tried Lowes and True Value, and they are OK, but they just don't measure up to HD.
 
Anyway, back to the reason I'm calling, about getting a CLI on this CC. As I said, I bought the dryer, very happy with it, and very happy with the terms. No payments, no interest for 12 months. See the thing I'm concerned about though is it's a $450 purchase and a $500 CL CC. That's going to show up on my credit reports as a maxed out CC. The credit bureaus don't take into account that HD gave me this great offer of no interest and no payments for a year. So, is there any way you could help me out and bump my CL up to $2K? That would really help me out."
 
Message 6 of 7
Frequent Contributor

Re: Does maxing out a store card Have the same affect as maxing out a cc?

Excellent!! Thanks Noah..
June 2017= EQ 658 TU 684 EXP 688
Never Give Up!!
Message 7 of 7