Mini App Spree - Have Low Scores? Try These Cards.

[Anonymous]

Hey guys,

I did some apps in the past few days and figured I'd share which cards I got approved for, as to help those with lower credit scores get their foot in the door or simply open up new lines. My FICO TU was just pulled for Walmart and was 640 at the time of approval. Both other scores are close to that, but less than 640. My scores suck right now because of utilization, which is why I'm trying to do CLI or open new lines to help lower it, as well as pay it down.

Walmart Store Card SL $1100 - called and increased 6k

Shell Drive for Five Gas Card SL $500

Newegg SL $500

Midas SL $500

I also went ahead and called to increase my Amazon. I bumped it up to $2500 ($1200 increase).

Hopefully this will help my utilization drop a bit, as well as help those of you looking to open new lines that may be seeing frequent denials. If your scores are so low that you are skeptical about any of these, I would recommend trying for Midas first. In addition to Midas, you can also try for Firestone. Practically a guaranteed approval for both.

[Anonymous]

Be careful applying for too many store cards as you will put yourself in toy limit hell and only end up sabotaging yourself. It won't impress prime creditors either if you want to be considered for better cards in the future. The best way to show low util is pay down your balances.

[Anonymous]

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@Anonymous wrote:
Be careful applying for too many store cards as you will put yourself in toy limit hell and only end up sabotaging yourself. It won't impress prime creditors either if you want to be considered for better cards in the future. The best way to show low util is pay down your balances.

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+1

If your score are low, the answer is not to apply for store cards. Not sure what your profile looks like, but this spree may actully pull your scores down a tad. Congrats on the approvals though.

[Indycoltsfan]

Firestone is a great card - who doesn't have car issues or need tires?  Plus, it will grow with you.  I started at $1000 a year ago and have been increased to $1200 after 6 months and then to $2200 after a year.  Congratulations on your approvals!

[Anonymous]

I'm sure the APR is over 20% on cards like Firestone. That's where they get you.

[Indycoltsfan]

Firestone is 0% interest for 6 months for purchases over $299.  I have yet to pay any interest on it.  

[Anonymous]

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@Anonymous wrote:

Hey guys,

I did some apps in the past few days and figured I'd share which cards I got approved for, as to help those with lower credit scores get their foot in the door or simply open up new lines. My FICO TU was just pulled for Walmart and was 640 at the time of approval. Both other scores are close to that, but less than 640. My scores suck right now because of utilization, which is why I'm trying to do CLI or open new lines to help lower it, as well as pay it down.

Walmart Store Card SL $1100 - called and increased 6k

Shell Drive for Five Gas Card SL $500

Newegg SL $500

Midas SL $500

I also went ahead and called to increase my Amazon. I bumped it up to $2500 ($1200 increase).

Hopefully this will help my utilization drop a bit, as well as help those of you looking to open new lines that may be seeing frequent denials. If your scores are so low that you are skeptical about any of these, I would recommend trying for Midas first. In addition to Midas, you can also try for Firestone. Practically a guaranteed approval for both.

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Congratulations to you!...Thanks for sharing.

[Anonymous]

I understand what you're saying, however when I apply for a store card I intend on applying for cards that are actually going to be useful for me somewhere, and NOT go crazy with them especially due to the high APR. Every card I've recently gotten approved for I've used for small purchases that I can pay off as soon as they post. In the end, like I said, I'm trying to increase my available credit to help lower my utilization in conjunction with paying down my balances.

Approval for the Walmart Store Card SL $1100 dropped my util 5% and actually bumped my TU up 23 points. I'll take the tiny ding for the amount of store cards, because once I get my utilization where it needs to be, it'll be easier for me to get approved for the cards I actually want.

I was recently denied for a minimum limit application through my credit union, and the only cited reason was my utilization. That's a big blow to anyone's ego.

Thanks for the responses, everyone.

EDIT: I've already done the math, and by updating the utilization formula with the total limits of my new accounts I've found that once everything is reported within the next month, my utilization should be in the 30s again, or very close! But trust me, I'm done applying for store cards for a very long time. From here on out it's CLIs and paying above the minimums.

[Anonymous]

Those are solid store cards. Only store cards we should consider are the handful that offer deferred financing. Shell is a Citibank, Chevron phillips66/76 and BP are synchrony.