topic Saks Card...Is it Good? in Credit Cards

Saks Card...Is it Good?

Repairman — Wed, 02 Sep 2015 06:08:19 GMT

I'm thinking about the possibility of apping for a Saks card, and am just curious from those who have it, whether you think it's a good card to have. Are the benefits good enough for a shopper of the store or am I just as good jsut using something like my Quicksilver when shopping at Saks? Are there any real advantages to having the Saks card?

Re: Saks Card...Is it Good?

Anonymous — Wed, 02 Sep 2015 11:50:50 GMT

While I can't speak to the Saks card specifically, as I have Neiman Marcus and Bloomingdale's cards instead, I can tell you that the interest rate on all store cards is very high, including on the Saks card. If you plan to use it and PIF that will not be an issue, but if you carry any sort of balance, it will be expensive to do so.

Re: Saks Card...Is it Good?

FinStar — Wed, 02 Sep 2015 15:27:56 GMT

@Repairman wrote:
I'm thinking about the possibility of apping for a Saks card, and am just curious from those who have it, whether you think it's a good card to have. Are the benefits good enough for a shopper of the store or am I just as good jsut using something like my Quicksilver when shopping at Saks? Are there any real advantages to having the Saks card?

The better advantage would be if you get approved for the Saks WEMC. The store card by itself may not provide much in the sense of overall benefits unless you shop at Saks, Saks.com or Off 5th very frequently. I have the WEMC and it's a pretty decent card benefits-wise.

If you review their benefits/perks via the links below, perhaps this can give better perspective on whether it may be suitable for you:

http://www.saksfifthavenue.com/SaksFirst/store_card.jsp

http://www.saksfifthavenue.com/SaksFirst/world_elite_mc.jsp

Re: Saks Card...Is it Good?

CreditCuriosity — Wed, 02 Sep 2015 15:30:23 GMT

Didn't know this was a Cap1 backed card.. Interesting

Re: Saks Card...Is it Good?

kdm31091 — Wed, 02 Sep 2015 15:34:50 GMT

Like any store card, it's really only going to be beneficial if you shop there often.

Re: Saks Card...Is it Good?

Repairman — Wed, 02 Sep 2015 15:35:32 GMT

@FinStar wrote:
@Repairman wrote:
I'm thinking about the possibility of apping for a Saks card, and am just curious from those who have it, whether you think it's a good card to have. Are the benefits good enough for a shopper of the store or am I just as good jsut using something like my Quicksilver when shopping at Saks? Are there any real advantages to having the Saks card?
The better advantage would be if you get approved for the Saks WEMC. The store card by itself may not provide much in the sense of overall benefits unless you shop at Saks, Saks.com or Off 5th very frequently. I have the WEMC and it's a pretty decent card benefits-wise.

If you review their benefits/perks via the links below, perhaps this can give better perspective on whether it may be suitable for you:

http://www.saksfifthavenue.com/SaksFirst/store_card.jsp

http://www.saksfifthavenue.com/SaksFirst/world_elite_mc.jsp

DO you have to apply for the cards seperately? I've heard of people applying to the store card, then having to upgrade to the other? Can you just apply for the MC right from the start?

Re: Saks Card...Is it Good?

FinStar — Wed, 02 Sep 2015 15:35:40 GMT

@CreditCuriousity wrote:
Didn't know this was a Cap1 backed card.. Interesting

Yup, they were acquired from the HSBC Private Label portfolio. Neiman Marcus, Menards are a few others were part of that same portfolio. Best Buy was also acquired by Capital One but subsequently went to Citi.

Re: Saks Card...Is it Good?

FinStar — Wed, 02 Sep 2015 15:43:16 GMT

@Repairman wrote:
@FinStar wrote:
@Repairman wrote:
I'm thinking about the possibility of apping for a Saks card, and am just curious from those who have it, whether you think it's a good card to have. Are the benefits good enough for a shopper of the store or am I just as good jsut using something like my Quicksilver when shopping at Saks? Are there any real advantages to having the Saks card?
The better advantage would be if you get approved for the Saks WEMC. The store card by itself may not provide much in the sense of overall benefits unless you shop at Saks, Saks.com or Off 5th very frequently. I have the WEMC and it's a pretty decent card benefits-wise.

If you review their benefits/perks via the links below, perhaps this can give better perspective on whether it may be suitable for you:

http://www.saksfifthavenue.com/SaksFirst/store_card.jsp

http://www.saksfifthavenue.com/SaksFirst/world_elite_mc.jsp
DO you have to apply for the cards seperately? I've heard of people applying to the store card, then having to upgrade to the other? Can you just apply for the MC right from the start?

Yes, you can apply for the WEMC at the store (not sure if there's an actual online application for the MC). You will be considered for WEMC first, then Platinum MC and then the store version (depending on your creditworthiness). If you get approved for the store version, you can eventually upgrade to WEMC down the road once your overall profile becomes eligible.

ETA: I was approved for the WEMC several years ago while shopping at the Chicago (Michigan Ave) store. You can also use the card (store or WEMC) at any of their outlet stores.

Re: Saks Card...Is it Good?

CreditCuriosity — Wed, 02 Sep 2015 16:29:59 GMT

@kdm31091 wrote:
Like any store card, it's really only going to be beneficial if you shop there often.

Oh I wouldn't apply for it.. Nice looking card though. Just interesting Cap1 backs it. Didn't know HSBC as finstar stated it backed it prior. Looks like HSBC wanted mainly out of the US CC market at least with store cards and sub-prime. Still a small presence with CC's, nothing like they use to be

Re: Saks Card...Is it Good?

Repairman — Wed, 02 Sep 2015 16:00:25 GMT

@FinStar wrote:
@Repairman wrote:
@FinStar wrote:
@Repairman wrote:
I'm thinking about the possibility of apping for a Saks card, and am just curious from those who have it, whether you think it's a good card to have. Are the benefits good enough for a shopper of the store or am I just as good jsut using something like my Quicksilver when shopping at Saks? Are there any real advantages to having the Saks card?
The better advantage would be if you get approved for the Saks WEMC. The store card by itself may not provide much in the sense of overall benefits unless you shop at Saks, Saks.com or Off 5th very frequently. I have the WEMC and it's a pretty decent card benefits-wise.

If you review their benefits/perks via the links below, perhaps this can give better perspective on whether it may be suitable for you:

http://www.saksfifthavenue.com/SaksFirst/store_card.jsp

http://www.saksfifthavenue.com/SaksFirst/world_elite_mc.jsp
DO you have to apply for the cards seperately? I've heard of people applying to the store card, then having to upgrade to the other? Can you just apply for the MC right from the start?
Yes, you can apply for the WEMC at the store (not sure if there's an actual online application for the MC). You will be considered for WEMC first, then Platinum MC and then the store version (depending on your creditworthiness). If you get approved for the store version, you can eventually upgrade to WEMC down the road once your overall profile becomes eligible.

ETA: I was approved for the WEMC several years ago while shopping at the Chicago (Michigan Ave) store. You can also use the card (store or WEMC) at any of their outlet stores.

Do you know what score(s) they pull?

Re: Saks Card...Is it Good?

FinStar — Wed, 02 Sep 2015 16:06:34 GMT

@Repairman wrote:
@FinStar wrote:
@Repairman wrote:
@FinStar wrote:
@Repairman wrote:
I'm thinking about the possibility of apping for a Saks card, and am just curious from those who have it, whether you think it's a good card to have. Are the benefits good enough for a shopper of the store or am I just as good jsut using something like my Quicksilver when shopping at Saks? Are there any real advantages to having the Saks card?
The better advantage would be if you get approved for the Saks WEMC. The store card by itself may not provide much in the sense of overall benefits unless you shop at Saks, Saks.com or Off 5th very frequently. I have the WEMC and it's a pretty decent card benefits-wise.

If you review their benefits/perks via the links below, perhaps this can give better perspective on whether it may be suitable for you:

http://www.saksfifthavenue.com/SaksFirst/store_card.jsp

http://www.saksfifthavenue.com/SaksFirst/world_elite_mc.jsp
DO you have to apply for the cards seperately? I've heard of people applying to the store card, then having to upgrade to the other? Can you just apply for the MC right from the start?
Yes, you can apply for the WEMC at the store (not sure if there's an actual online application for the MC). You will be considered for WEMC first, then Platinum MC and then the store version (depending on your creditworthiness). If you get approved for the store version, you can eventually upgrade to WEMC down the road once your overall profile becomes eligible.

ETA: I was approved for the WEMC several years ago while shopping at the Chicago (Michigan Ave) store. You can also use the card (store or WEMC) at any of their outlet stores.
Do you know what score(s) they pull?

I have no idea. Typically, they pull EQ and to obtain the WEMC your profile needs to be spotless (i.e. no major or recent derogs, no high utilization, no BK) to qualify. I would imagine scores need to hover above 720~ but you can always check the credit pulls database to see if there are any data points on the Saks WEMC. Worse case scenario, you get approved for the store version which eventually can be upgraded.

Re: Saks Card...Is it Good?

noobody — Wed, 02 Sep 2015 16:46:33 GMT

it used to be the only "free" WEMC available few years ago, all other WEMC carries hefty AF.
now everyone and their brother can get their hands on a $500 WEMC.

Re: Saks Card...Is it Good?

Anonymous — Wed, 02 Sep 2015 16:58:30 GMT

@Repairman wrote:
I'm thinking about the possibility of apping for a Saks card, and am just curious from those who have it, whether you think it's a good card to have. Are the benefits good enough for a shopper of the store or am I just as good jsut using something like my Quicksilver when shopping at Saks? Are there any real advantages to having the Saks card?

i was looking at the black Saks Elite Mastercard too. looks nice! says i need the regular one first though before upgrading. Don't know about Capital One though! heard they pull 3 times!

Re: Saks Card...Is it Good?

FinStar — Wed, 02 Sep 2015 17:52:46 GMT

@noobody wrote:
it used to be the only "free" WEMC available few years ago, all other WEMC carries hefty AF.
now everyone and their brother can get their hands on a $500 WEMC.

Right, except for this one, they don't start at $500 and not everyone and their brother would qualify for the Saks WEMC. Still, one of the decently available co-branded WEMCs given the additional non-Saks perks.

Re: Saks Card...Is it Good?

FinStar — Wed, 02 Sep 2015 17:56:29 GMT

@Anonymous wrote:
@Repairman wrote:
I'm thinking about the possibility of apping for a Saks card, and am just curious from those who have it, whether you think it's a good card to have. Are the benefits good enough for a shopper of the store or am I just as good jsut using something like my Quicksilver when shopping at Saks? Are there any real advantages to having the Saks card?
i was looking at the black Saks Elite Mastercard too. looks nice! says i need the regular one first though before upgrading. Don't know about Capital One though! heard they pull 3 times!

As mentioned above, you would need to apply for the WEMC at the store. The online application appears only to offer the option for the store card. As far as Capital One private label CCs, they typically pull one (1) CRA - not all three. They can, in some instances, pull two (primary and alternate) but very rare... YEMV.

Re: Saks Card...Is it Good?

Anonymous — Wed, 02 Sep 2015 18:00:24 GMT

@noobody wrote:
it used to be the only "free" WEMC available few years ago, all other WEMC carries hefty AF.

Citi Double Cash WEMC does not require an annual fee. Do others?

Re: Saks Card...Is it Good?

fedxboy — Wed, 02 Sep 2015 20:31:52 GMT

I'd apply in store, like Finstar did and maybe you'll get the WEMC like he did. I applied online in May and got instant for the store card @ 1500 and then filled out the info for the upgrade as I thought I was applying for the WEMC, but they only gave me the Platinum MC @ 2200. Oh well, this was after they already gave me 10k for the Quick Silver and 10k for the Venture. They'll also send you a $25 dollar gift card after your 1st purchase. Good Luck!!!

*edit Oh yeah and for both cards, I only got 1 HP on EQ. I assume since I app'd for the MC right after I got approved for the store card

Re: Saks Card...Is it Good?

FinStar — Wed, 02 Sep 2015 19:00:16 GMT

@Anonymous wrote:
@noobody wrote:
it used to be the only "free" WEMC available few years ago, all other WEMC carries hefty AF.

Citi Double Cash WEMC does not require an annual fee. Do others?

Examples of WEMC cards that do not have AFs are: Quicksilver (by invite or elegibility), GM BuyPower, Citi Dividend, ThankYou Preferred (rare)...etc.

Yet, there are plenty others (examples below) that will carry an AF:

Diners Club Elite (no longer available to apply)

United Presidential Plus (Chase - no longer available to apply)

Venture (by invite or eligibility)

Virgin Atlantic

BOH Hawaiian Airlines

Arrival+

ThankYou Premier / Prestige

AA Advantage Platinum Select / Executive

First Hawaiian Bank Priority Destinations

Re: Saks Card...Is it Good?

pizza1 — Thu, 03 Sep 2015 01:22:46 GMT

@CreditCuriousity wrote:
@kdm31091 wrote:
Like any store card, it's really only going to be beneficial if you shop there often.
Oh I wouldn't apply for it.. Nice looking card though. Just interesting Cap1 backs it. Didn't know HSBC as finstar stated it backed it prior. Looks like HSBC wanted mainly out of the US CC market at least with store cards and sub-prime. Still a small presence with CC's, nothing like they use to be

Id apply it, and have! Been denied 3 times so far, lol..But I also think I was at my max limit to have with Cap1. At the times I applied I have 7 total cap1 cards. Ill try again in a year or so

Re: Saks Card...Is it Good?

FinStar — Thu, 03 Sep 2015 01:28:51 GMT

@pizza1 wrote:
@CreditCuriousity wrote:
@kdm31091 wrote:
Like any store card, it's really only going to be beneficial if you shop there often.
Oh I wouldn't apply for it.. Nice looking card though. Just interesting Cap1 backs it. Didn't know HSBC as finstar stated it backed it prior. Looks like HSBC wanted mainly out of the US CC market at least with store cards and sub-prime. Still a small presence with CC's, nothing like they use to be
Id apply it, and have! Been denied 3 times so far, lol..But I also think I was at my max limit to have with Cap1. At the times I applied I have 7 total cap1 cards. Ill try again in a year or so

Private Label vs Capital One legacy cards have no max in the number of cards you can obtain, so this would not be the case. In the former HSBC days, yes. Both divisions are run separately.