topic Re: Chase Amazon-Walmart Discover R they Store cards? in Credit Cards

Chase Amazon-Walmart Discover R they Store cards?

Duncanrr — Mon, 22 Oct 2012 15:44:49 GMT

In terms of mixture of credit for FICO purposes, are the Chase Amazaon and Walmart Discover cards considered store cards? Or are they treated like normally issued bank credit cards?

Re: Chase Amazon-Walmart Discover R they Store cards?

trumpet-205 — Mon, 22 Oct 2012 15:49:55 GMT

FICO cannot tell the difference between credit card and store card.

Re: Chase Amazon-Walmart Discover R they Store cards?

Duncanrr — Mon, 22 Oct 2012 15:55:01 GMT

@trumpet-205 wrote:
FICO cannot tell the difference between credit card and store card.

Are you sure about that? I thought that FICO looked at types of credit (10% of the score) and that considered whether the accounts were installment, mortgage, revolving or store credit.

Re: Chase Amazon-Walmart Discover R they Store cards?

webhopper — Mon, 22 Oct 2012 16:05:58 GMT

@Duncanrr wrote:
In terms of mixture of credit for FICO purposes, are the Chase Amazaon and Walmart Discover cards considered store cards? Or are they treated like normally issued bank credit cards?

My Amazon Chase card shows up as just Chase bank, revolving credit card account.... it shows up as a major CC, not a retail card.

Re: Chase Amazon-Walmart Discover R they Store cards?

trumpet-205 — Mon, 22 Oct 2012 17:43:50 GMT

@Duncanrr wrote:
Are you sure about that? I thought that FICO looked at types of credit (10% of the score) and that considered whether the accounts were installment, mortgage, revolving or store credit.

FICO can tell a difference between installment (personal/auto) loan, mortgage, credit card, and consumer finance account (furniture), but not store card. Having a store card does not mean you have mix account.

Re: Chase Amazon-Walmart Discover R they Store cards?

migliogiorni — Mon, 22 Oct 2012 19:04:48 GMT

interesting, so why do ppl say have a couple of store cards for fico purposes...

Re: Chase Amazon-Walmart Discover R they Store cards?

Jutz — Mon, 22 Oct 2012 19:11:58 GMT

@migliogiorni wrote:
interesting, so why do ppl say have a couple of store cards for fico purposes...

Not having a full understanding? They generally provide easier approvals and higher CL, so I'd consider that good for FICO.

Re: Chase Amazon-Walmart Discover R they Store cards?

Anonymous — Mon, 22 Oct 2012 19:51:53 GMT

I have mine because they were easy approvals and they offer no AF so I can use them once a year, request for SP CLI, and not worry about paying for something I dont' use. They will age nicely and add to my UTIL and AAoA.

Re: Chase Amazon-Walmart Discover R they Store cards?

youngandcreditwrthy — Mon, 22 Oct 2012 23:22:06 GMT

I know that my Walmart Discover reports as "Walmart Dual Card" same for mu BR Visa. "Banana Republic Dual Card"....

Bankcards are harder to get than store cards, but as the ops say...fico can't really tell the diff.

Re: Chase Amazon-Walmart Discover R they Store cards?

maiden_girl — Tue, 23 Oct 2012 12:43:55 GMT

@youngandcreditwrthy wrote:
I know that my Walmart Discover reports as "Walmart Dual Card" same for mu BR Visa. "Banana Republic Dual Card"....

Bankcards are harder to get than store cards, but as the ops say...fico can't really tell the diff.

My Walmart Discover reports the same but my other GE accounts report as the store they are with b/c they aren't dual cards. I don't believe FICO can tell the different between store card and regular credit card. I think it monitors whether its a revolving or charge account.

Re: Chase Amazon-Walmart Discover R they Store cards?

Anonymous — Thu, 25 Oct 2012 23:29:44 GMT

youngandcreditwrthy wrote:
I know that my Walmart Discover reports as "Walmart Dual Card" same for mu BR Visa. "Banana Republic Dual Card"....

My only TL are CC and adding a retail card could enhance my Fico score. If "Walmart Dual Card" reports why wouldn
't Fico consider it a retail card?

Re: Chase Amazon-Walmart Discover R they Store cards?

Anonymous — Fri, 26 Oct 2012 00:02:00 GMT

I always thought most people stayed away from store cards because of the god awful interest rates. Combine that with the ease of approval and high credit limit then your looking at a long road to financial recovery... LOL

Re: Chase Amazon-Walmart Discover R they Store cards?

webhopper — Fri, 26 Oct 2012 00:39:54 GMT

Store cards aren't all bad, they serve their purpose

Re: Chase Amazon-Walmart Discover R they Store cards?

Anonymous — Fri, 26 Oct 2012 01:45:55 GMT

Come on people, give the store cards a breK. Some of them are very good. I love mines.