How many store cards can i get?

[GApeachy]

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@folks19 wrote:

Am i limited on the amount of store cards that i can hold at once.

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Yes or No, ymmv.  I think we all may be during certain conditions/economic conditions........after reading a lot of posts of recent closures with perfect pymt history; Economic downturn + pandemic I think it's wise to tread lightly.  If I were to app today I wouldn't press my luck past one of each with each bank.  That's still a lot of store cards!  I'd certainly only app for a necessary card, one I'd use often, a store I'd shop with or without their store card.  Of course some store cards can be Visa or Mastercard which is great.  Those cards tend to grow pdq as well sometimes as the regular store cards and can benefit you.

There has been, on this forum,  a saying about not mixing Majors with Minors with Comenity, that may be true but there's always that ymmv.  I have one of each and will not pursue anymore just cause I don't want to have one more thing to worry about with Sensitive Comenity.  Same for Synchrony...they'll snatch the rug right out from under you without you being able to figure out why.  So there are some dp's I heed to with these banks and a general search can yield much.

If you do app for store cards, be protective of you profile, research the dp's then make a decision.  Not having a lot of hp's, new accts is proactive...try not to look too "credit seeky" I guess is the best move other than avoiding them altogether.

[NoMoreE46]

OP:
If your timeframe is really 2 to 3 years then I would recommend getting the Target Red Card (credit version-Not the debit one.)

With this card issued by TD Bank, you can easily just buy something for a dollar whatever every month to keep it active at Target. This seems to be a good fit for what you’re trying accomplish as in 2 years, this card gets upgraded to the MasterCard version typically.

[tcbofade]

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@NoMoreE46 wrote:

OP:
If your timeframe is really 2 to 3 years then I would recommend getting the Target Red Card (credit version-Not the debit one.)

With this card issued by TD Bank, you can easily just buy something for a dollar whatever every month to keep it active at Target. This seems to be a good fit for what you’re trying accomplish as in 2 years, this card gets upgraded to the MasterCard version typically.

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Hmmm.  DW has had her red card for nearly seven years... it's still just a store card.

She does USE it tho, and we enjoy the 5% discount at the register and PIF.

[folks19]

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@NoMoreE46 wrote:

OP:
If your timeframe is really 2 to 3 years then I would recommend getting the Target Red Card (credit version-Not the debit one.)

With this card issued by TD Bank, you can easily just buy something for a dollar whatever every month to keep it active at Target. This seems to be a good fit for what you’re trying accomplish as in 2 years, this card gets upgraded to the MasterCard version typically.

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do you know what credit report target pulls?

[K-in-Boston]

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@tcbofade wrote:

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@NoMoreE46 wrote:

OP:
If your timeframe is really 2 to 3 years then I would recommend getting the Target Red Card (credit version-Not the debit one.)

With this card issued by TD Bank, you can easily just buy something for a dollar whatever every month to keep it active at Target. This seems to be a good fit for what you’re trying accomplish as in 2 years, this card gets upgraded to the MasterCard version typically.

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Hmmm.  DW has had her red card for nearly seven years... it's still just a store card.

She does USE it tho, and we enjoy the 5% discount at the register and PIF.

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There is seemingly no rhyme or reason for upgrades or CLIs on the Target cards.  I wanted to cry when I read a post earlier that said "Target cards usually get to about $4000 and convert to MasterCard in 2 years."  While mine just converted from Visa to MC when TD Bank took over from Target National Bank, it took *15* years for mine to make it up to $4000 with no derogs in my life.  😂 

[tcbofade]

I was a year off... she's had it for seven and a half years, it's still a store card with a $700 limit... 

[K-in-Boston]

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@tcbofade wrote:

I was a year off... she's had it for seven and a half years, it's still a store card with a $700 limit... 

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Mine moved past $800 after 13.5 years - keep hope alive!

[Anonymous]

I'm for store cards and getting as many as possible, especially gasoline cards with 20K limits. 

JK.

Low limits, high APRs, minimal tech features like text alerts, etc are things you have to deal with in order to take advantage of their benefits. But if you are disciplined enough and you frequent the establishment enough and use the card, and PIF, they work in minimal numbers. Too many add risk to you in managing them and gunk up your CRs. 

They don't look good on your CRs if you have too many. I don't understand the furniture card. Seems like a one-and-done card. 0% interest for two years, but if you don't pay in full after 2 years or miss a payment, you owe 29% interest from day one. Then when will you need furniture again and put yourself at interest risk? Cancel it, but that zit leaves a mark on your report for 10 years lol. Not a lot of benefit.

Don't get me wrong,  1 or 2 are good.

Lowe's is good,  there are others, I'd take the best 2 for your spending habits and leave it at that. 

[folks19]

i see that a lot of people wrote that having too many store cards can hurt your credit. that actually makes sence. but do they still have the negative affect after a few year. for example, if i have 10 new accounts opened in a 6 months timeframe 4 years ago, does that still look bad now?

[K-in-Boston]

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@Anonymous wrote:

...I don't understand the furniture card. Seems like a one-and-done card. 0% interest for two years, but if you don't pay in full after 2 years or miss a payment, you owe 29% interest from day one. Then when will you need furniture again and put yourself at interest risk? Cancel it, but that zit leaves a mark on your report for 10 years lol. Not a lot of benefit....

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The one I have is issued by TD Bank and does not do "0% if paid in XX months," so there is not retroactive interest if unpaid in a certain time.  I was making a large purchase and had my Delta card out to make payment, but their offer was 0% APR for 7 years with equal payments - so why not?!  The offer on the card varies, and right now is 0% for 60 months with no minimum purchase.