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Sears store card?

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Anonymous
Not applicable

Sears store card?

 

Hello all,  i'm a newbie here... Happy new year!!

curiosity: Since Sears is in dire straits, will they be more inclined to approve me for their store or master card? I figure they need all the costumers they can get at this point, or is it a wrong assumption on my part. Perhaps they have loosen the rules a bit to get more business moving. I'm afraid to use my HPs just to get denied.

 

I just started my arduous road of credit rebuilding, currently my score has “insufficient history” so no score. I’m approved for cap1 secured $49/$200 card on the mail. No collections, no negs, on my report all fell off.

Message 1 of 10
9 REPLIES 9
Anonymous
Not applicable

Re: Sears store card?

I would get a few more secured CCs and a secured loan to start building your credit history.

Message 2 of 10
AverageJoesCredit
Legendary Contributor

Re: Sears store card?

Sears maybe in trouble but Citibank who backs the card is not. I wouldnt waste a hp especially if your credit is just begining or rebuilding. And the mc is still harder to get than the store version.
Message 3 of 10
Anonymous
Not applicable

Re: Sears store card?

You've gotta start with secured cards that have will benefit you in the long term.

 

My recommendation for the OP is to not to apply for a unsecured card right now. Instead focus on a secured card and let that grow for you. Take a couple hundred to a bank or CU say NFCU /DCU etc and open a basic savings + a secured CC. I'd also go to Cap1 and take the ding for their SC because its honestly worth it seeing that you deposit anywhere between $49 - $100 and get a $200 CL. https://www.capitalone.com/credit-cards/secured-mastercard/    .And I would also look into self lender perhaps for a builder as well -   https://www.selflender.com/landing?lname=build

 

Anywho just my two cents man but if I were in your shoes that would be something I'd do. I did it before myself, I saved up $800 and opened up a secured BofA card + Secured Cap1 card and took care of those cards for years before they were offered to go into unsecureds but they also happen to be the oldest and strongets accounts I've got.

 

Message 4 of 10
HeavenOhio
Senior Contributor

Re: Sears store card?

OP, you could look for another secured card right now, possibly Discover. Or you could garden the Capital One card for six months and possibly find yourself in the position for a few unsecured products. The bottom line is to not apply for something that's not useful. By definition, a no-fee major card from a decent bank can be considered useful.

Message 5 of 10
Anonymous
Not applicable

Re: Sears store card?

Thank you, i was hoping i could get at least one retail card(wally, target, sears, amazon, etc) together with my cap1... but i will heed your advice and apply for another unsecured, I’m thinking discover but I did burn them before “might” be on their blacklist, I’m afraid to be denied for their unsecured cause of that, charge-off 2015 $6k. I will also be applying for a credit builder loan with a local community or CU bank.

Message 6 of 10
iamorme
Member

Re: Sears store card?

Yeah, I agree with most of the people here. I'd take it slow and, if it were me, I would grab a secured no fee card from discover or a similar bank. I did that awhile back and after a year of paying off the balance to zero each month, I was able to get a chase freedom card with a $2k limit. 

Fico 8: [Eq] 708 | [TU] 714 | [Exp] 721
Amex BCE: $5k - Discover More: $2000 - Simplicity: $4800 - Discover It: $11000 - BarclayCard JetBlue: $5000 - Cap1 Quicksilver One $3.5k - Cap1 Savor: $10000 - Blispay $2.6k
Message 7 of 10
Anonymous
Not applicable

Re: Sears store card?

Nordstrom and Target are newbie friendly. I especially recommend Nordstrom since it's proven to grow and even convert to a full Visa.
Message 8 of 10
Anonymous
Not applicable

Re: Sears store card?

If you want an unsecured line of credit Fingerhut should accept you. I believe they still have their fresh start program if you do not qualify for the full credit account. 

Message 9 of 10
Anonymous
Not applicable

Re: Sears store card?

Follow the advice of those on these boards. I agree to start off with a Fingerhut card. When my credit score had gone down to the low 500's I applied for a Fingerhut card and was approved for $700.00, now $1800.00. I buy something a couple of times a year since it is my second oldest open card. Also, look for the advice on the SCT. Good luck!

Message 10 of 10
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