topic Re: Easiest retail card to get in Credit Cards

Easiest retail card to get

Learning_Tee0225 — Thu, 19 Apr 2012 03:05:29 GMT

Hello All!!

So im climbing uphill in this credit battle and the load is slowly lightening! Ive been checking my score like im stalking it and ran across a message saying:

You have no retail revolving accounts that can be used in determining a credit score.

With that said any idea of which retail store could be the easiest to get a card. Im trying to avoid a zillion inquiries! :0

I only have my TU and Equifax score

TU 595

EQ 573

Any hope?!

Re: Easiest retail card to get

Anonymous — Thu, 19 Apr 2012 03:20:07 GMT

You may want to try for a GE card. They pull TU. The GE Walmart card also gives you a free monthly TU FICO.

Re: Easiest retail card to get

Learning_Tee0225 — Thu, 19 Apr 2012 03:23:32 GMT

Really? Walmart.. id think theyd be hard to get but you are the second person who has reccomended them..thanks for the suggestion!

Re: Easiest retail card to get

MarineVietVet — Thu, 19 Apr 2012 03:35:15 GMT

@Learning_Tee0225 wrote:
Hello All!!

So im climbing uphill in this credit battle and the load is slowly lightening! Ive been checking my score like im stalking it and ran across a message saying:

You have no retail revolving accounts that can be used in determining a credit score.

With that said any idea of which retail store could be the easiest to get a card. Im trying to avoid a zillion inquiries! :0

I only have my TU and Equifax score
TU 595
EQ 573

Any hope?!

May I ask what kind of report offered that advice? That doesn't sound like something any FICO related report would state. But I could be wrong. I have been many times before.

Re: Easiest retail card to get

Anonymous — Thu, 19 Apr 2012 03:47:23 GMT

I was declined by Walmart with my scores..

Easiest card to get for me is anything handled by WFNNB.

With a bit of googling you can find a bunch of them.

Some stores they service are Victoria Secret, Ann Taylor Loft, Pottery Barn, Maurices, New York and Company.

If you already have an account, sometimes they soft inquire you for new cards. I have 5 of their cards and they only hard inquiried me for the two I applied for instore. Of course interest rates are high, there's even a $1 charge for a paper statement. Often you get a statement within 5 days of making a purchase which already has a payment due.

BUT, if you frequent a store that they service they can be a decent deal because usually you get extra coupons and stuff like that. Only worthwhile if you don't carry a balance though.

Re: Easiest retail card to get

Learning_Tee0225 — Thu, 19 Apr 2012 04:12:16 GMT

It was actually on the TU website..transunion.com i guess they try and give you helpful hints as to what is impaccting your score.

Re: Easiest retail card to get

Learning_Tee0225 — Thu, 19 Apr 2012 04:16:15 GMT

JenniferinFL -

I was thinking of going for a Victoria Secret card..cross my fingers! hope i can get it

Re: Easiest retail card to get

Anonymous — Thu, 19 Apr 2012 04:36:39 GMT

Are those fico scores?

Re: Easiest retail card to get

Anonymous — Thu, 19 Apr 2012 05:55:55 GMT

I would have to say the Macy's card. I RARELY hear anyone get declined for that card.

Re: Easiest retail card to get

MarineVietVet — Thu, 19 Apr 2012 07:12:45 GMT

@Learning_Tee0225 wrote:
It was actually on the TU website..transunion.com i guess they try and give you helpful hints as to what is impaccting your score.

Those scores are not FICO scores. They are called VantageScores and only a few lenders use them. The reports themselves are accurate but disregard the scores and the advice given. When they say You have no retail revolving accounts that can be used in determining a credit score ignore it. A retail account is not required in your credit mix.

And ignore any other tips they might give you. Those "tips" can actually be the complete opposite of what needs to be done to help yourself. Only pull FICO scores and reports.

Do you know any of your FICO scores? Unfortunately no one has been able to buy their own Experian FICO score since February of 2009. Creditors can pull Experian and also there is a CU (PSECU) in Pennsylvania that supplies that information to it's members only. You can only buy true FICO scores at a few places. One place is here at myFICO.

At one time you could also purchase your Transunion score at transunioncs.com but no more. Wal Mart now offers a TU08 score to those who have their store card and the Discover version.

Equifax will still sell you a FICO score found here: www.equifax.com/web-myfico-products/

Re: Easiest retail card to get

Learning_Tee0225 — Thu, 19 Apr 2012 17:08:21 GMT

Yea I have both scores through TU and MyFico and they both report almost the same score a 7 point difference between the two (TU website and Myfico website), kinda odd but oh well. my TU and Equifax score are the only ones i have.

I was a little doubtful on needing a retail card i dont think it will hurt but at the same time i dont want to do all these inquiries to keep gettin denied when its something i may not even need to achieve a better score.

Re: Easiest retail card to get

tcbofade — Thu, 19 Apr 2012 17:53:32 GMT

If you don't need it / won't use it...don't open it.

Do you have any CC accounts open?

Re: Easiest retail card to get

Revelate — Thu, 19 Apr 2012 19:25:29 GMT

@Learning_Tee0225 wrote:
Yea I have both scores through TU and MyFico and they both report almost the same score a 7 point difference between the two (TU website and Myfico website), kinda odd but oh well. my TU and Equifax score are the only ones i have.

I was a little doubtful on needing a retail card i dont think it will hurt but at the same time i dont want to do all these inquiries to keep gettin denied when its something i may not even need to achieve a better score.

It probably won't hurt you beyond the inquiry(ies) and new tradeline (which are mostly short-term issues), but it's not going to help if you already have open national bank cards from everything that we know.

Retail cards used to be the basement of the credit world; that's no longer the case, but the models theoretically still handle them a little differently and while I personally think it's ridiculous, I don't make the rules. In all ways a national card is equivalent or better than any retail card, so unless you shop there and there's some useful perks, skip it. That said, if you don't have any current credit cards, or even just one, you probably want something else but I'd always recommend a secured card or a rebuilder unsecured one over a retail card if we're just talking about FICO scoring purposes.

Re: Easiest retail card to get

Anonymous — Thu, 19 Apr 2012 20:00:30 GMT

@Learning_Tee0225 wrote:
Yea I have both scores through TU and MyFico and they both report almost the same score a 7 point difference between the two (TU website and Myfico website), kinda odd but oh well. my TU and Equifax score are the only ones i have.

I was a little doubtful on needing a retail card i dont think it will hurt but at the same time i dont want to do all these inquiries to keep gettin denied when its something i may not even need to achieve a better score.

My only regular credit card hasn't reported yet, but, I got a 20 point boost when I my first credit card reported even though it was a Maurices card from WFNNB. The subsequent 5 added store cards have lowered my score about 15 points even though there was only one additional inquiry. What I did isn't a good idea for most people. But, I have an unusual situation wherein I have about 10 positive accounts all closed/paid off about 8 years ago and then ten negative accounts included in bankruptcy and closed 3 years ago. In two years all my old positive tradelines will have fallen off my credit leaving only the ten negative tradelines which will then fall off in an additional two years. Basically, without some kind of action, my credit account is going to be nothing but negative in two years. The really inconvenient part is that two years correlates with when I will be graduating from college and looking for a job that will probably run a credit check. It's also when my husband will quit working (after I start working obviously) and take my place as the stay at home parent leaving just my credit and income to rely on. I'm not entirely sure, but for me I think it will look better to have a pile of two year old accounts in a couple years versus one or two recent accounts and ten negative accounts. Either way, it's not going to be great. Even with the added accounts I have an AAOA of 6+ years.

I actually picked stores I don't frequent so that it would be easy to teach myself not to run them up. It's more of a chore to go in, find some cheap stupid item to put on the card, pay it off as soon as it posts and earn credit. I already resold my Ann Taylor Loft and Victoria Secret purchases on Ebay.. lol..

Re: Easiest retail card to get

webhopper — Thu, 19 Apr 2012 20:17:15 GMT

@Learning_Tee0225 wrote:
Yea I have both scores through TU and MyFico and they both report almost the same score a 7 point difference between the two (TU website and Myfico website), kinda odd but oh well. my TU and Equifax score are the only ones i have.

I was a little doubtful on needing a retail card i dont think it will hurt but at the same time i dont want to do all these inquiries to keep gettin denied when its something i may not even need to achieve a better score.

Some people have reported luck with FingerHut

Re: Easiest retail card to get

LS2982 — Thu, 19 Apr 2012 22:19:50 GMT

@webhopper wrote:
@Learning_Tee0225 wrote:
Yea I have both scores through TU and MyFico and they both report almost the same score a 7 point difference between the two (TU website and Myfico website), kinda odd but oh well. my TU and Equifax score are the only ones i have.

I was a little doubtful on needing a retail card i dont think it will hurt but at the same time i dont want to do all these inquiries to keep gettin denied when its something i may not even need to achieve a better score.

Some people have reported luck with FingerHut

I wouldn't go with fingerhut because of they're obsurd markup on products.