topic Re: Store Cards in Credit Cards

Store Cards

Chaos122 — Fri, 31 Dec 2010 06:43:38 GMT

I have a Dell card and a Bestbuy card. Im about to pay both of them off, but i heard that both Dell and BB are notorious for closing cards when they are inactive for a couple months and i dont plan on using these cards in the near future.

I guess my options are to;

A- Pay the Cards down to about 10% and make small monthly payments on that,

B- Pay the cards off and purchase something every 2-3 months to keep them active ( will be tough for dell, since they dont have low priced stuff)

C- Pay them off and let them be closed (Wont really affect my Utilization, and dont need them, but wanted to keep them

These are the only 2 store cards i have, i also have 3 credit cards

Im trying to build my credit and want to go with the best option, let me know what you think

Re: Store Cards

Anonymous — Fri, 31 Dec 2010 07:14:50 GMT

Just purchase a piece of gum here and there.

BB didn't close my card yet and it has been inactive for 6 months already.

Get this! instead of closing my account BB gave me a CLI for being inactive ( 800 to 1200).

Re: Store Cards

rubaty — Fri, 31 Dec 2010 12:48:59 GMT

Use option B...

I have a BB card that I have used once a year for a small purchase the last 8 years and it is still open.

Re: Store Cards

marty56 — Fri, 31 Dec 2010 13:03:48 GMT

Option B for the BB card, option C for the Dell one. I recommend Newegg prefered card if you need to by computer stuff.

Re: Store Cards

Chaos122 — Fri, 31 Dec 2010 16:59:09 GMT

Thanks for the Advice guys, I actually have a newegg preffered account but they dont report to the credit bureau.

Just a follow up question, do higher credit limits help you credit, or is just about utilization?

Re: Store Cards

Anonymous — Fri, 31 Dec 2010 17:05:07 GMT

Dell has video games, and other stuff under $50 (or they did a year ago).

Re: Store Cards

Anonymous — Fri, 31 Dec 2010 17:05:42 GMT

I would do what is best for YOU and not best for THEM: Pay them off, use them for small amounts if you can. Don't get a headache over it. If they want to close them, they'll do so anyway. Don't give them interest money if you don't have to. Be a responsible miser!

Re: Store Cards

clocktick — Fri, 31 Dec 2010 17:26:07 GMT

What kind of Dell card, Dell preferred account (or something along those lines?)? If so, I let it go for years and only purchase new laptops on it when the time comes for the 0% financing.

Re: Store Cards

marty56 — Fri, 31 Dec 2010 17:49:34 GMT

@alberty2k wrote:
Just a follow up question, do higher credit limits help you credit, or is just about utilization?

Higher CLs don't do anyting for you credit other than lowering your util which always helps you credit score. They never hurt your scores.

Re: Store Cards

MarineVietVet — Fri, 31 Dec 2010 20:56:04 GMT

@marty56 wrote:
Higher CLs don't do anyting for you credit other than lowering your util which always helps you credit score. They never hurt your scores.

I agree. CL's aren't scored. It's the percentage of usage of those limits that is scored.

From a BK years ago to:
EX - 9/09 pulled by lender 802, EQ - 10/10-813, TU - 10/10-774

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".

Re: Store Cards

Anonymous — Sun, 02 Jan 2011 07:20:57 GMT

For the Best Buy - sounds like you wouldn't mind keeping that one for the future - why not just buy a movie, or a game, or heck, even a pack of batteries and then turn around and pay it off.

If you're one of those people that don't watch movies, play games or have anything battery operated - (who are these people?) Then there's always the thought of buying a gift card for someones birthday, or christmas. That's what I do with my JC penneys, buy a gift card for sephora for my sis and get a haircut.

Re: Store Cards

Anonymous — Sun, 02 Jan 2011 09:18:25 GMT

Best Buy sells gum (and 20 oz sodas) up front by the checkout counters -- stop in every other month and buy a pack. No need to spend more money to prevent a closure.