Store Card Applications

[Anonymous]

Hey gang. Well, I did it. I have wanted a Kohls credit card for a long time, and today I got ballsy and applied while in the store. I was approved and got an $800 limit. I thought that was lame considering we have recently been approved for over $25,000 worth of new credit lines, but hey, whatever. At least I didn't wimp out and I went through with it. This is my first store card in a long, long time. Since the demise of our good credit years ago. Anyway, if it goes by income, or anything like that, mine is piddly compared to my spouses. So I can see why they give me only $800. But, I could blow through $800 in nothing flat, so maybe it is a blessing they only gave me that much. heheeeee.

OK, if I can do it, so can you. Go for it. 

By the way...I really have no idea what my fico is. Not above 680 for sure. And I have no idea what bureaus that Kohls pulls from.  The girl taking my ap had no clue. It was so easy, though. I just had to answer 7 questions on the touch pad. They gave me a temporary paper card until the real one comes. I don't even know how much the interest rate is. I guess I don't really care because I plan to never carry a balance. 

OK carry on.....now to get a Menards card...anyone have experience there?

[Anonymous]

Bigtim, you had a good informative note. I should have read it before going to Kohls, although it turned out ok for me in the end. Funny that Chase is who services it, we just refinanced our mortgage and took it away from Chase. I know it is different division, but it is funny that would happen.

OK, do you know why when you applied online with Kohls that you got denied? I am interested as I have no idea what their criteria is. 

Thanks for your info and ideas. 

[bigtim]

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@Anonymous wrote:

Hey gang. Well, I did it. I have wanted a Kohls credit card for a long time, and today I got ballsy and applied while in the store. [...] I was approved and got an $800 limit. I thought that was lame considering we have recently been approved for over $25,000 worth of new credit lines, but hey, whatever. At least I didn't wimp out and I went through with it...

OK, if I can do it, so can you. Go for it. 

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LMAO - congratulations - you have now entered the elite club of Those Who Have The Balls To App In Person... Good stuff man...

[bigtim]

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@Anonymous wrote:

OK, do you know why when you applied online with Kohls that you got denied? I am interested as I have no idea what their criteria is. 

Thanks for your info and ideas. 

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Well the letter says:

Too Few Satisfactory Accounts Compared To Total Accounts ( I do have some older derogs - medical, etc.)

Too Many Accounts With High Balances Compared To Credit Limits (This is only one account - an older student loan which is recorded as the balance higher than the original loan due to cap. int. when I defaulted - good now)

Too Many Recently Opened Accounts Compared To Total Accounts (This is true - I've opened some accounts recently)

To be honest, it's not all bad I was declined, it's the first one I was declined for in some time, and it was overdue - kinda put the brakes on me getting new accounts - I did get one at Old Navy since, and I'm done for awhile. Also, I used the decline to get a free updated report from Experian, so all was not lost - really a good thing in the end all the way around - at least I wasn't declined in front of a store full of people...LOL. Take care.

[haulingthescoreup]

Kohl's is the only CC I know that publicly acknowledges pulling a FAKO score. They pull a Vantage score.

Smrtshppr43, I wish you knew a current FICO! Then you could be our guinea pig and see if there is any appreciable change once the Kohl's card reports, as it would be your only retail card! Unless you go wild with Menard's and all, that is!

[Anonymous]

OK OK hauling....I'll go pay some green dollars and pull my experian and see. I'll take one for the team. heheheee

[haulingthescoreup]

No, no, not Experian! That's a FAKO!

We all appreciate your sacrifice.

[Anonymous]

I thought BigTim said that Kohl's pulls Experian. ???

I had a note on my files to pull Experian in July again anyway, so it is OK. And for whatever it is worth.....the Kohls inquiry is already showing and my score as of right now is 695. 

In April my Experian was 725. The only thing different on the report was the mortgage refi inquiry appears. 

So, Hauling....what is this FAKO vs FICO?? I don't get it. 

[bigtim]

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@Anonymous wrote:

I thought BigTim said that Kohl's pulls Experian. ???

I had a note on my files to pull Experian in July again anyway, so it is OK. And for whatever it is worth.....the Kohls inquiry is already showing and my score as of right now is 695. 

So, Hauling....what is this FAKO vs FICO?? I don't get it. 

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What he wanted you to do I think was pull a FICO report/score - EQ or TU I guess, prior to the new CL reporting, and then pull another score again sometime after Kohl's reports, and compare the two scores to see the change.

FICO, or a variation, is the score a majority of the lenders use. The so called FAKOs (Fake FICOs) are proprietary scores - calculated by the CRAs or other agency themselves - which the lenders don't use (much), so they really have no bearing on your creditworthiness, as far as lenders go...

[Anonymous]

OK, I see now. I think I am due for another Transunion this month too. If I remember tomorrow I shall do it. I am beat tonight. Applying in person wiped me out today....need sleep to recover....LOL!!