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Store Card - How Important?

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Valued Contributor

Re: Store Card - How Important?

Stupid FAKOs...

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Message 11 of 18
Established Contributor

Re: Store Card - How Important?


@smc733 wrote:

Stupid FAKOs...


I'm right there with you!!

FICO: EX: 740 (1/18); TU: 753 (12/17); EQ 777 (12/17)
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Message 12 of 18
Regular Contributor

Re: Store Card - How Important?


@beamMEup wrote:
  There is no FICO reason code for "Not Enough Store Cards."  Smiley Tongue

 


 I think I <3 you! Smiley Very Happy  Thank you so much!!!

 

I was thinking MAYBE (but not likely) apping Target but the only card I really only want is Nordstroms; and you saved me from doing something really stooooopid... that and the fraud alert seems to have stopped all companies from asking if I want their card Smiley Happy

 

Message 13 of 18
Valued Contributor

Re: Store Card - How Important?

I dislike store cards, too.  I will be closing my Amazon store card, as I really just end up using a regular CC anyway, and it's my lowest limit ($1,200).

BofA Cash Rewards VS - $25k | Citi Double Cash World MC - $18.9k | Amex BCE - $50k | Discover it - $50k | Chase Freedom Unlimited VS- $10k | Barclay Ring $5k |
Message 14 of 18
Moderator Emeritus

Re: Store Card - How Important?

One thing store cards are very very good at is giving adding length and breadth to your credit history (if you need it).  (They can also be great for discounts etc.)  If that particular store card has no AF, it might be wise to leave it open.  Store cards can still be open 20 years down the road and really help contribute to your length of credit history.  They're not evil - you just don't need one to up a FICO score.

 

 

Just puttin' syrup on something, don't make it pancakes.
Message 15 of 18
Valued Contributor

Re: Store Card - How Important?


  If you were going to get a store card, though, you might as well go for the Target card.  You already shop there, and there's a discount day when you do a certain level of shopping using that card.  Saves a bit of money, not lots, but it's still money.

 


Get the Target Red Card. Since you shop there, you get 5% taken off the top when you check out.

 

Decent reward depsnding on how much you spend with Target.

 

Ray

Ray

** Every Card has a Job, and Every Card does its Job **
Message 16 of 18
Regular Contributor

Re: Store Card - How Important?


@RockinRay wrote:

 

Get the Target Red Card. Since you shop there, you get 5% taken off the top when you check out.

 


Checked another site that allows posters to add what their scores are, decline/approve, CL, etc and am seeing of the four apps from '10-'11, all were declined.  Scores from those ranged from 596 - 675, reasons given by users were: too many inqs, or bankruptcy.

 

Apparently, Target is not overly BK friendly.  So, I will wait Smiley Sad

Message 17 of 18
Valued Contributor

Re: Store Card - How Important?

I think those FAKO websites got that idea by snooping around on myFICO forums, haha.  It used to be the popular theory on here that store cards added to the mix of credit, but that thinking has changed.  It's why I still have an American Eagle store card with an $800 limit instead of the VISA.  I told the rep, "I only want the store card, make sure you tell them I DONT want the Visa."

 

She looked at me like I was on drugs, lol.


Starting Score: EQ: 665 - TU: 687
Current Score: EQ: 749 - TU: ---
Goal Score: EQ: 760 - TU: 760


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Message 18 of 18
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