topic Re: Best Buy Credit Card or Macy's Credit Card? in Credit Cards

Best Buy Credit Card or Macy's Credit Card?

Anonymous — Thu, 24 Jun 2010 07:32:29 GMT

I only have one credit card right now, it's a Platinum Hello Kitty Credit Card. I want to open a store card b/c I've read that a good variety is good. Which card will be easier to get b/c I was late on a couple of payments :/

Re: Best Buy Credit Card or Macy's Credit Card?

Anonymous — Thu, 24 Jun 2010 09:19:12 GMT

I suggest you apply in person with a purchase. It seems to help.

I think you should only apply for store cards if you are a regular customer. If so, why not get both?

Re: Best Buy Credit Card or Macy's Credit Card?

Gibran — Thu, 24 Jun 2010 11:34:24 GMT

Macy's no longer reports CL's on any of the 3 CR's..So having that card won't factor into your overall utilization, just thought I'd share.

Re: Best Buy Credit Card or Macy's Credit Card?

Anonymous — Thu, 24 Jun 2010 14:04:06 GMT

Hi 14,

Having a store card won't help your "mix." Mix refers to a mix of installment and revolving accounts.

But there are other benefits to store cards. They're sometimes easier to get approved for, sometimes have great perks and higher CL's, and often are held long-term so they can benefi your AAofA.

FICO doesn't care if you have a store card, but they do care if you have at least one bank card/national cc. It's FICO code #3 "Too few bank revolving accounts". You only need one to keep the FICO gods happy.

If you feel a need to have another card (it's nice but not necessary for your FICO score), look at a bank card. If your Hello Kitty card is a bank card (I'm not familiar with it), check into some nice CU cards. They'll both serve you well.

I have a Macy's and their current reporting practices make me less than happy. They serve me well because of the great discounts and CL. However, since they don't report CL's, the increased CL is less than ideal for me.

Re: Best Buy Credit Card or Macy's Credit Card?

haulingthescoreup — Thu, 01 Jul 2010 00:49:55 GMT

Best Buy is a tough store card to get. It's very unusual in that it's harder to qualify for the store card than for the MC.

Have you checked out local credit unions? A CU card is a much better way to expand your credit profile, IMO.

Re: Best Buy Credit Card or Macy's Credit Card?

Anonymous — Thu, 01 Jul 2010 01:47:32 GMT

Hello Kitty is BofA

https://www.bankofamerica.com/myexpression_banking/productInfo.do?affinity=22755&segmentid=SPIN

Inquiring minds want to know.

Re: Best Buy Credit Card or Macy's Credit Card?

Anonymous — Thu, 01 Jul 2010 02:02:26 GMT

better apply cc from Credit union, easier and more limit