Thoughts On Store Cards?

[Remedios]

No one ever quantified impact of store cards on insurance rates. 

While LN weighs them as potential negative in presence of other factors, the impact on those with clean file and clean driving record is negligible. 

My insurance rate remained unchanged after adding store card, and it didn't go down at the renewal when card was closed. 

In fact, the only things my LN bished way back when you could get score in addition to the report were inquires and new accounts, so really, no different than what FICO bishes about (well, it did say my wealth index was impacted by lack of watercraft ownership). 

A few dollars lost because you have a store card are completely offset by rewards if you're paying in full. 

[K-in-Boston]

+100.  No clue what if any actual penalty is being applied.  Remmy, I still think you should buy a jet ski and a glider, send photos via text message to LN, ask them to upgrade your watercraft and aircraft ownership, and then go insurance shopping for science.

[Remedios]

No, I'm going to buy those cute little tubs you bathe babies in, then put it Puget Sound mud water and take a picture, and send it to them while calling it "Dispute". 

Also, I'm going to take picture of seals and ask them what kind of broke ish has seal pets (they will never know those are wild animals). 

If ostrich feels like photo op, I'll use that as additional proof that I'm right and they are wrong! 

[Anonymous]

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@Remedios wrote:

My insurance rate remained unchanged after adding store card, and it didn't go down at the renewal when card was closed. ...

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From what I could gather, Esurance calculated my score once at policy inception. I could request a rescore but it did not appear to happen automatically upon renewal. When I called Esurance to cancel, they did a rescore and offered me a slightly lower rate.

I wish insurance scores were more transparent.

[Anonymous]

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@Remedios wrote:

In fact, the only things my LN bished way back when you could get score in addition to the report were inquires and new accounts, so really, no different than what FICO bishes about (well, it did say my wealth index was impacted by lack of watercraft ownership). 

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Well, that's because the five high-speed power boats you owned (prior to seizure by the DEA) were registered under fake names.  Good to avoid criminal charges, but not so good for LN.   So on balance, a win!

[Remedios]

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@Anonymous wrote:

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@Remedios wrote:

In fact, the only things my LN bished way back when you could get score in addition to the report were inquires and new accounts, so really, no different than what FICO bishes about (well, it did say my wealth index was impacted by lack of watercraft ownership). 

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Well, that's because the five high-speed power boats you owned (prior to seizure by the DEA) were registered under fake names.  Good to avoid criminal charges, but not so good for LN.   So on balance, a win!

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Omg, you're a genius 

Gonna take a selfie with a six pack of coke and put winky emoji on the pic. 

I cannot see where that dispute wont go in my favor. 

[simplynoir]

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@Remedios wrote:

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@Anonymous wrote:

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@Remedios wrote:

In fact, the only things my LN bished way back when you could get score in addition to the report were inquires and new accounts, so really, no different than what FICO bishes about (well, it did say my wealth index was impacted by lack of watercraft ownership). 

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Well, that's because the five high-speed power boats you owned (prior to seizure by the DEA) were registered under fake names.  Good to avoid criminal charges, but not so good for LN.   So on balance, a win!

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Omg, you're a genius 

Gonna take a selfie with a six pack of coke and put winky emoji on the pic. 

I cannot see where that dispute wont go in my favor. 

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Based on posts on the forum wink emojis apparently solve all disputes so you should be clear

[Anonymous]

On another note:

06/16/2020 Going to throw some pillows on the floor and leave a ransome note on the table before I leave for work. Because parenting.

Can I have an option on the movie rights to "Daily Wisdom of Remedios" (and any sequels).    You just have to promise that you will keep doing this for long enough (basically to fill 120 minutes of blockbuster greatness).   Personally, I bet you will quit by July  (Pyschological tactic to keep production going...)

[Remedios]

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@Anonymous wrote:

On another note:

06/16/2020 Going to throw some pillows on the floor and leave a ransome note on the table before I leave for work. Because parenting.

Can I have an option on the movie rights to "Daily Wisdom of Remedios" (and any sequels).    You just have to promise that you will keep doing this for long enough (basically to fill 120 minutes of blockbuster greatness).   Personally, I bet you will quit by July  (Pyschological tactic to keep production going...)

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I'm not going to quit by July because your trick worked. 

[Citylights18]

What store cards do for you is open up financing ability so you want to open one unless you intend to be a long term customer. That said there are different classifications of store cards.

1) Wholesale Shopping (Amazon/WalMart)

2) Department Stores (Macys/Sears)

3) Electronics (Apple/Samsung)

4) Home Improvement (Home Depot/Lowes)

I listed big names and those are the most valuable. I wouldn't open one if I didn't see recurring purchases. The last one I opened 2 year ago was a Samsung card for appliances with the idea that in the future I could also put a cellphone or computer on it. 

But if I was to build up a new credit card system I would start with a Trifecta from one of the issuers first for the SUBs, then a few travel cards before I'd load up on store cards. A big purchase is a perfect excuse for opening a bank revolver since they'll offer at times 10% or more points per dollar spent.

So you could open up a store card to save 5% on a purchase or use 5% rotator card which has that store category under bonus that quarter.  Thus you might be smarter just to open up a Discover or a Freedom and take advantage of the 5% bonus category plus the promotional SUB they are offering.