topic Re: Will Kohl’s Store Credit Card Approve me? in Credit Card Applications

Will Kohl’s Store Credit Card Approve me?

Anonymous — Fri, 15 Dec 2017 19:40:51 GMT

EQ 574 TU 578 EX 618

I currently have 0 Inquiries in the past year. 11 accounts total, 9 open, 2.5 Average Age of Accounts. 1 collection on EQ & TU. Experian has nothing negative. I have never missed a payment on any credit cards, and just one 30 day late on my Ford Credit Auto loan a long time ago. I do though have high UTI. Total credit limit: $17,200 plus 10k remaining on auto loan. I really want the Kohl’s Store Credit Card... so what’s the chances of approval for me? Are there other cards you’d recommend I have a better chance with?

Re: Will Kohl’s Store Credit Card Approve me?

Anonymous — Fri, 15 Dec 2017 19:43:22 GMT

I would guess denied.

If your utilization is sky high you may be leaving over 100 FICO points on the table. Depends on how bad utilization is aggregate and individually. Fix that before seeking new credit or you'll get a toy limit or denied.

Re: Will Kohl’s Store Credit Card Approve me?

Anonymous — Fri, 15 Dec 2017 20:49:53 GMT

@Anonymous wrote:
EQ 574 TU 578 EX 618

I currently have 0 Inquiries in the past year. 11 accounts total, 9 open, 2.5 Average Age of Accounts. 1 collection on EQ & TU. Experian has nothing negative. I have never missed a payment on any credit cards, and just one 30 day late on my Ford Credit Auto loan a long time ago. I do though have high UTI. Total credit limit: $17,200 plus 10k remaining on auto loan. I really want the Kohl’s Store Credit Card... so what’s the chances of approval for me? Are there other cards you’d recommend I have a better chance with?

IMHO, decline.

Re: Will Kohl’s Store Credit Card Approve me?

Anonymous — Fri, 15 Dec 2017 20:56:35 GMT

Kohl's has a prequalification link on their website that you can check with no effect on your score. Give it a try and that should give you some idea of your chance of an approval. Let us know the outcome.

Re: Will Kohl’s Store Credit Card Approve me?

Adkins — Fri, 15 Dec 2017 22:36:44 GMT

@Anonymous wrote:
EQ 574 TU 578 EX 618

I currently have 0 Inquiries in the past year. 11 accounts total, 9 open, 2.5 Average Age of Accounts. 1 collection on EQ & TU. Experian has nothing negative. I have never missed a payment on any credit cards, and just one 30 day late on my Ford Credit Auto loan a long time ago. I do though have high UTI. Total credit limit: $17,200 plus 10k remaining on auto loan. I really want the Kohl’s Store Credit Card... so what’s the chances of approval for me? Are there other cards you’d recommend I have a better chance with?

The DH has scores 760-780s, utilization unknown and a couple of inquires in the last year and got a $1000 limit.

Re: Will Kohl’s Store Credit Card Approve me?

Anonymous — Sat, 16 Dec 2017 04:02:40 GMT

Ask yourself do I really want my AAOA to go down for a store card? is the HP really worth it? can you afford to use the card given you high utilization not judging just trying to be helpful as I really feel you can improve just give the above and other comments here some thought best of luck.

Re: Will Kohl’s Store Credit Card Approve me?

Anonymous — Sat, 16 Dec 2017 04:24:46 GMT

Very true. Thank you everyone! I just really love credit cards. I can definitely afford an additional card, I have never missed a payment in my entire 6 years of using credit. However the AAOA going down isn’t worth it for a store card. My goal is to lower my utilization to 10-30% which will bump me up to the 730s according to my simulators. The biggest factor in my score seams to be my utilization and adding to that isn’t the wisest choice at the moment. Thank you everyone

Re: Will Kohl’s Store Credit Card Approve me?

Anonymous — Sat, 16 Dec 2017 06:42:12 GMT

@Anonymous wrote:
Very true. Thank you everyone! I just really love credit cards. I can definitely afford an additional card, I have never missed a payment in my entire 6 years of using credit. However the AAOA going down isn’t worth it for a store card. My goal is to lower my utilization to 10-30% which will bump me up to the 730s according to my simulators. The biggest factor in my score seams to be my utilization and adding to that isn’t the wisest choice at the moment. Thank you everyone

Exactly! You've got the idea. Congrats! btw on the payment history.

Re: Will Kohl’s Store Credit Card Approve me?

Anonymous — Sat, 16 Dec 2017 13:54:34 GMT

I would stay away from store cards completely. They can bucket you into low limit cards for a long time. Not worth it.

Re: Will Kohl’s Store Credit Card Approve me?

shadanat — Sat, 16 Dec 2017 22:27:19 GMT

Kohl's has a pre-qualification link on the homepage of the store site. You can try that.

Re: Will Kohl’s Store Credit Card Approve me?

AverageJoesCredit — Sat, 16 Dec 2017 22:47:22 GMT

If a store card is something that can benefit you greatly, ie, you always shop there and the rewards add up with specials and such, then go for it when you are ready. If its just to have a Kohls just because, not a good idea. Definetely work on your utilization before adding more credit cards because if your scores are still in the 500s after 6 years with no baddies, you are only holding yourself back from getting the credit you deserve. Just mho

Re: Will Kohl’s Store Credit Card Approve me?

Anonymous — Mon, 18 Dec 2017 09:33:50 GMT

Store cards? from reading they short ya life of credit file becareful.

Re: Will Kohl’s Store Credit Card Approve me?

Anonymous — Wed, 20 Dec 2017 03:23:36 GMT

You are completely right! Before I maxed my cards out I had a 700 plus score. That was a year ago. Now according to 5-8 different credit score simulators I’ll have close to a 760 when I pay my debt off. Now I would really love to do this. I just wish I could get a loan at a lower or equal APR to my cards. I can’t find any lending company’s from reviews that in my upper 500s range would be less or equal to the average 21% I pay in interest. So until I can find a way to get 17 grand to pay off this debt I’m stuck in a cycle of paying monthly minimums and then interest rolling it over. I have 0 inquiries in 2 years. Someone have advice here? My next application is gonna be a d*mn good one. Excuse the Italian.