@Anonymous wrote:Hello Fellas
Haven't been back recently as I've pretty much reached my credit goals minus Barclays but that should be in soon.
I understand that for most people, having a ton of store cards doesn't work. I just wanted to chime in a different point of view.
I have a boatload of store cards. Went overboard and sunk the boat on SCT cards (30 of 'em babies). I also have another 15 from other places like Kohl's, CareCredit, TJMaxx, etc.
I know it's "supposed" to stop me from getting higher limits since I have so many toy limits. But it hasn't and I'm not sure why.
So I have approximately 45 store cards and around 15 regular cards.
AMEX - (Green, Gold, BCP 15K,CostCO)
Capital One - 1 week old VentureTrick $30K (damn nice trick considering I still have $851 Secured CapOne)
NFCU - 16K
4 Chase - CSP, Freedom, Slate, SWA 12K
BofA 123, WF, Citi DC, Penfed AMEX, AlliantCU CC, ValorCU CC
I'm still missing Barclays (denied too many new accounts) but will be apping in June.
As far as I can see, I haven't been affected by store cards. With Venture I finally got over the 20K hump and will be asking AMEX for 25K in April.
I know it doesn't work for anybody but I had no AAoA to lose when I rebuilt so I went crazy on the store cards along with 5 secured cards. After my baddies dropped off, my tax liens were the last to go in December. I'm sitting at 750+ on all 3 with TU 767 being the highest.
Just my 2 cents, it worked for me because I had no AAoA to destroy really. I brought my 4 Backdated AMEX (2 at a time) into the fold later on which was a really nice bonus.
I see the SCT as destroying AAoA but other than that, it has not held me back. Maybe it will hold me back from 800 score or maybe it will hold me back from 50K credit cards. I dunno yet.
I do know that even though I added the CapOne card, my AAoA will not change since I have 60 aged accounts vs 1 new account.
And as a disclaimer, I advised my brother not to get any store cards as he only had 2 Backdated AMEX 2005 so 10 year AAoA and old student loan. Yesterday he got 50K VentureTrick, 10K Ring, 10K US Airways. I told him he might want to get Overstock but that's it.
I am hoping to ride out those 45 store cards until they get closed for non-use then SCT again to replace them
Thanks SO MUCH for chiming in with a completely DIFFERENT POSITIVE experience!
From my own experience my AAOA was already toast from the very start and still is and likely always will be from my perspective
And that is one factor that for me anyway only plays on FICO score alone but was never mentioned once in U/W reviews so as every new TL cuts into it , it hasn't affected prime approvals.
Barclays actually was the single most issuer that made the most static over the store cards for me and encouraged me to take some serious action with the SCT cards amassed, and i don't regret it.
I think that on my own profile, Barclays standard "too many recent accounts opened" was DIRECTLY related to those many SCT new TL's specifically but time will tell.
I really don't think, but I might be wrong on this, that Barclays won't want to make too awful much of that same reason code as pertains to the newest Prime Cards such as BofA, Chase, etc. as compared to the SCT accounts before.
But it's a very interesting read from your perspective on your experiences with store cards.
@Anonymous wrote:
@Oslo wrote:After being scolded by Nixon and a few others for opening a store card the other day I don't think I will get any more.
I currently have Jcrew (looking forward to see how much CLI love I get) along with Banana Republic and I think that will work just fine for me since they are the only two places I shop for clothes.
It's not about NOT getting store cards, period.
It's about NOT getting store cards strictly to tone down utilization percentages. If one is having utilization issues that only a cheap band aid (store cards that will not be used) will fix, then usually there are other underlying issues at hand that require attention. Assess your situation before adding new accounts you have zero use for.
A valid point. Although I currently have no utilization issues, I do regret the damage that will be done to my AAoA.
One thing I have noticed is aside from initial sign up bonuses (20% off initial purchase blah blah) there are very few benifits to many store cards. Benifits I wouldnt risk damaging my AAoA for at least. Something I didn't consider until it was pointed out to me after the fact.
You guys have me hand wringing about my recent decisions.
I finally got approved for an Overstock card. I also carry an Eddie Bauer card, and a NY&C card. I shop the heck out of these three stores..and the rewards are decent.
I'm happy to have them, I think. Intending on using them frequently.
@dobirdsmommy wrote:
@mechanicaljen wrote:You guys have me hand wringing about my recent decisions.
I finally got approved for an Overstock card. I also carry an Eddie Bauer card, and a NY&C card. I shop the heck out of these three stores..and the rewards are decent.
I'm happy to have them, I think. Intending on using them frequently.
I think we can consider those different. If you use them than it is a different story.
I went crazy I got 19 comenity cards all soft pull. I have already cut two out. I will be trimming more and more as I go now because of Chase questioning them on my slate application. And I was not in U/W because of my scores. I will in U/W because I decided to apply for two cards in less than 24 hours. But U/W subjected me to the questions about the 19 comenity cards.
I use the heck out of my Torrid, Gamestop, and King Size. (DH is 6'5'' 300lbs) Little by little I will be trimming away the Plus size girl catalog cards.
WoW! 19 is much more than I mustered up
I think since everyone's profile is unique to that person's usage, payment history, and history in general among other matters, that store cards might or might not interfere or delay certain prime approvals and/or limits/APR.
Not until Barclays UW turned up the heat did I even think it even mattered that much or at all.
That being said when I do apply again for store cards it will be highly scrutinized by yours truly FIRST, and even then they would have to offer a known decent upfront staring limit along with SP line increases on a regular or set basis for instance like most Synchrony and some Comenity offerings
@CreditMagic7 wrote:
@dobirdsmommy wrote:
@mechanicaljen wrote:You guys have me hand wringing about my recent decisions.
I finally got approved for an Overstock card. I also carry an Eddie Bauer card, and a NY&C card. I shop the heck out of these three stores..and the rewards are decent.
I'm happy to have them, I think. Intending on using them frequently.
I think we can consider those different. If you use them than it is a different story.
I went crazy I got 19 comenity cards all soft pull. I have already cut two out. I will be trimming more and more as I go now because of Chase questioning them on my slate application. And I was not in U/W because of my scores. I will in U/W because I decided to apply for two cards in less than 24 hours. But U/W subjected me to the questions about the 19 comenity cards.
I use the heck out of my Torrid, Gamestop, and King Size. (DH is 6'5'' 300lbs) Little by little I will be trimming away the Plus size girl catalog cards.
WoW! 19 is much more than I mustered up
I think since everyone's profile is unique to that person's usage, payment history, and history in general among other matters, that store cards might or might not interfere or delay certain prime approvals and/or limits/APR.
Not until Barclays UW turned up the heat did I even think it even mattered that much or at all.
That being said when I do apply again for store cards it will be highly scrutinized by yours truly FIRST, and even then they would have to offer a known decent upfront staring limit along with SP line increases on a regular or set basis for instance like most Synchrony and some Comenity offerings
I guess I didnt even realize it was 19 until Chase said something. I guess because all their cards are able to be used at each other.
I know I wont give up VS, Sportsman Guide Visa, Torrid, HSN, Overstock, or Gamestop. I use them and PIF and get the rewards. The rest I will be trimming.
I am scared to app for Barclays just for that very reason.
@dobirdsmommy wrote:
@CreditMagic7 wrote:
@dobirdsmommy wrote:
@mechanicaljen wrote:You guys have me hand wringing about my recent decisions.
I finally got approved for an Overstock card. I also carry an Eddie Bauer card, and a NY&C card. I shop the heck out of these three stores..and the rewards are decent.
I'm happy to have them, I think. Intending on using them frequently.
I think we can consider those different. If you use them than it is a different story.
I went crazy I got 19 comenity cards all soft pull. I have already cut two out. I will be trimming more and more as I go now because of Chase questioning them on my slate application. And I was not in U/W because of my scores. I will in U/W because I decided to apply for two cards in less than 24 hours. But U/W subjected me to the questions about the 19 comenity cards.
I use the heck out of my Torrid, Gamestop, and King Size. (DH is 6'5'' 300lbs) Little by little I will be trimming away the Plus size girl catalog cards.
WoW! 19 is much more than I mustered up
I think since everyone's profile is unique to that person's usage, payment history, and history in general among other matters, that store cards might or might not interfere or delay certain prime approvals and/or limits/APR.
Not until Barclays UW turned up the heat did I even think it even mattered that much or at all.
That being said when I do apply again for store cards it will be highly scrutinized by yours truly FIRST, and even then they would have to offer a known decent upfront staring limit along with SP line increases on a regular or set basis for instance like most Synchrony and some Comenity offerings
I guess I didnt even realize it was 19 until Chase said something. I guess because all their cards are able to be used at each other.
I know I wont give up VS, Sportsman Guide Visa, Torrid, HSN, Overstock, or Gamestop. I use them and PIF and get the rewards. The rest I will be trimming.
I am scared to app for Barclays just for that very reason.
how do cards like the best buy mc and the sportsmans guide visa count? are they considered store cards? or is there a 3rd category for those? I just closed one of mine (I had 13) and will close JCP if i can find the darn thing.
@dobirdsmommy wrote:
@CreditMagic7 wrote:
@dobirdsmommy wrote:
@mechanicaljen wrote:You guys have me hand wringing about my recent decisions.
I finally got approved for an Overstock card. I also carry an Eddie Bauer card, and a NY&C card. I shop the heck out of these three stores..and the rewards are decent.
I'm happy to have them, I think. Intending on using them frequently.
I think we can consider those different. If you use them than it is a different story.
I went crazy I got 19 comenity cards all soft pull. I have already cut two out. I will be trimming more and more as I go now because of Chase questioning them on my slate application. And I was not in U/W because of my scores. I will in U/W because I decided to apply for two cards in less than 24 hours. But U/W subjected me to the questions about the 19 comenity cards.
I use the heck out of my Torrid, Gamestop, and King Size. (DH is 6'5'' 300lbs) Little by little I will be trimming away the Plus size girl catalog cards.
WoW! 19 is much more than I mustered up
I think since everyone's profile is unique to that person's usage, payment history, and history in general among other matters, that store cards might or might not interfere or delay certain prime approvals and/or limits/APR.
Not until Barclays UW turned up the heat did I even think it even mattered that much or at all.
That being said when I do apply again for store cards it will be highly scrutinized by yours truly FIRST, and even then they would have to offer a known decent upfront staring limit along with SP line increases on a regular or set basis for instance like most Synchrony and some Comenity offerings
I guess I didnt even realize it was 19 until Chase said something. I guess because all their cards are able to be used at each other.
I know I wont give up VS, Sportsman Guide Visa, Torrid, HSN, Overstock, or Gamestop. I use them and PIF and get the rewards. The rest I will be trimming.
I am scared to app for Barclays just for that very reason.
Barclays likes to nit pick at everything.
After being approved for BOTH Venture AND Quicksilver no AF last week I have zero interest in even thinking about their Sallie Mae MC anymore since they still make a big deal from my denial back in October.
The old saying "you snooze you lose" applies. If new accounts are such a big deal to them and you're solidly building a strong profile with good scores and history their competitors are more than happy to welcome your business. 
@Anonymous wrote:
Admit it. You still want the Sallie Mae.
Not happening plus they won't do it anyway and i'm not about to beg them for it so I gladly passed that business right over to my new best friend.
Ready for this one?
Capital One!