topic Re: Store Card Vs. Regular Credit Card in Understanding FICO® Scoring

Store Card Vs. Regular Credit Card

Anonymous — Fri, 30 Apr 2010 06:34:15 GMT

Just another curious question. I have a Daniel's jewelers card. I had some old lates from 08' including a lot of 120 day lates. The company does not mail out monthly bills, even if a customer request it. So I thought I paid the whole card off (which was not that much). Come to find out I had a $8.00 balance on the card which went into 30 60 90 120 day lates. Amazing right? This company refuses to work with me what so ever!

My question is, is the affect of being late on a store card the same as a regular credit card?

Re: Store Card Vs. Regular Credit Card

RobertEG — Fri, 30 Apr 2010 06:49:09 GMT

FICO may score the postiive benefits of major cards higher than store cards, but when it comes to derogs, I have never seen any evidence that they dont score all derogs equally.

Re: Store Card Vs. Regular Credit Card

Jazzzy — Fri, 30 Apr 2010 11:33:29 GMT

They are scored just alike when it comes to the negs....at least I have never heard anyone say otherwise.

Your case is an example of why I believe everyone needs credit monitoring. You would have been alerted when this account went 30 days late and taken care of it then. You would have still had the 30-day late, but at least it would have saved you the 60, 90 and 120. At least this didn't go into a charge-off and collections...did it?

All for $8. That's too bad. I guess I would keep sending goodwill letters. Try the CEO, the VPs, etc. Maybe some day someone will feel like giving you a present. Nice them till they can't stand it anymore. Take responsibility for the mess. Tell them you have learned a life lesson from it. Say sorry, sorry, sorry. Remember...honey...not flies.

And then do it over, and over, and over.

Re: Store Card Vs. Regular Credit Card

Anonymous — Fri, 30 Apr 2010 15:22:29 GMT

@LynetteM wrote:
Your case is an example of why I believe everyone needs credit monitoring. You would have been alerted when this account went 30 days late and taken care of it then.

Good point. Plus, you would have seen a balance posted before it even went 30 days late. Love credit monitoring!!

Re: Store Card Vs. Regular Credit Card

MarineVietVet — Fri, 30 Apr 2010 15:32:48 GMT

I'm sorry this happened to you. Whenever I read a post like this it makes me realize why I check all of my accounts every day for activity and also to avoid any surprises. I wish people were more diligent about accessing their accounts. There would be less problems IMO.

From a BK years ago to:

9/09 EX pulled by lender 802
3/10 EQ- 800
4/10 TU -772

You can do the same thing with hard work

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Re: Store Card Vs. Regular Credit Card

Anonymous — Fri, 30 Apr 2010 15:54:13 GMT

Thank you all for your responses. No the card never went to collections or charged off. The problem that I have is that I do call on my accounts and check up on balances. I had called on this card and paid it off to a zero. But it is my fault that I didn't calculate other fees, (customer service should of also helped out with this) monthly maintenence fees and what not. I've had the monitering before. It's just I purchase soooo many reports from here and FAKO's just to counteract each other. It gets expensive, and I'm sure all of you can agree with me lol.

Re: Store Card Vs. Regular Credit Card

Anonymous — Fri, 30 Apr 2010 16:17:36 GMT

@Anonymous wrote:
Thank you all for your responses. No the card never went to collections or charged off. The problem that I have is that I do call on my accounts and check up on balances. I had called on this card and paid it off to a zero. But it is my fault that I didn't calculate other fees, (customer service should of also helped out with this) monthly maintenence fees and what not. I've had the monitering before. It's just I purchase soooo many reports from here and FAKO's just to counteract each other. It gets expensive, and I'm sure all of you can agree with me lol.

Hi joshandkim,

I'm sorry for what happened to you as well - there are, unfortunately, unscrupulous creditors who don't seem to have a conscience regarding the impact they can have on their customers' daily lives. Shame on them. And it's a good reminder for the rest of us to follow up for 2-3 months after closing an account - knowing that's a prime time we can get hit with this kind of stuff.

I pop out $9.95 a month for monitoring (I use CCT) cuz of both unscrupulous practices or just errors. We've already had things pop up and surprise us that we could then take care of in a timely fashion. It's $10, but it saves me far more than that - good investment IMO. And I pull my report much much much less often than I used to - like you, I'm trying to get the most bang for my buck.

Hope they can get that GW'd off for you. Keep on keepin' on. We had one GW that took six months and a few very humble, friendly personal visits. Didn't think they were gonna get there - but surprise! They did.