topic Re: Comenity + trick - What is it? in Credit Cards

Comenity + trick - What is it?

Anonymous — Tue, 23 Sep 2014 00:32:46 GMT

I see alot of people mentioning this and the "credit card trick" ... it seems like people are using this to rebuild their credit? I am in the process of rebuilding and was recently approved for my first actual credit card (CAP1 Quicksilver) in many years... I also have an unsecured Cap1.

Could you guys shed some light on it? Would it help my credit? It seems like they are store cards and its a soft inquiry? Any credit is good credit I suppose?

Whoever has experience with this please let me know if its worth doing. I am about 620-630 and trying to improve my score.

Thanks

Re: Comenity + trick - What is it?

Creditaddict — Tue, 23 Sep 2014 01:25:58 GMT

just do a search above for "Shopping Cart Trick" tons of posts and how to.

Re: Comenity + trick - What is it?

Anonymous — Tue, 23 Sep 2014 02:19:12 GMT

does it help ones credit? does it affect your score by running these inquires?

Re: Comenity + trick - What is it?

Anonymous — Tue, 23 Sep 2014 02:24:48 GMT

Also I tried searching... found lots of threats with people saying the trick worked but nothing detailing or explaining exactly what it is and/or what it does, whether or not it affects your credit etc.

Re: Comenity + trick - What is it?

Scupra — Tue, 23 Sep 2014 02:52:55 GMT

http://ficoforums.myfico.com/t5/Credit-Cards/NEW-UPDATED-LIST-for-Comenity-Bank-Store-Cards-can-be-useful-for/td-p/2433527

It will "hurt" your score any way a new TL would.

Re: Comenity + trick - What is it?

Anonymous — Tue, 23 Sep 2014 13:48:55 GMT

@Anonymous wrote:
Also I tried searching... found lots of threats with people saying the trick worked but nothing detailing or explaining exactly what it is and/or what it does, whether or not it affects your credit etc.

Only a select few of those stores have the "trick" enabled. There are no hard pulls. Although, I've read that those approved for the Total Rewards ended up with a HP.

It will affect your AAoA so you will see a dip in scores but I've been told give it 4-6 months and they'll go back up. It's only because they are new TL's. They all seem to SP EQ, although Victoria's Secret did a SP through EX with me, but that was the only one. Make sure your Pop-Up blocker is off.

Tip:

Victoria's Secret can be used at Bath and Body Works.

Re: Comenity + trick - What is it?

Anonymous — Tue, 23 Sep 2014 17:48:40 GMT

Thanks. Great to know. I tried out Express yesterday and was approved for $500 CL. I figured I'd open all apps around the same time so I'd just wait around 6 months and they'll all have the same AAOA

Re: Comenity + trick - What is it?

jamesdwi — Tue, 23 Sep 2014 18:17:04 GMT

avoid doing more than 2 or 3 cards that way in a month, they have been known to shutdown all your cards if they see too many new cards.

Re: Comenity + trick - What is it?

aubie1kenobie2 — Tue, 23 Sep 2014 18:42:48 GMT

Also try for cards that you are actually going to use (i.e. stores you shop at).