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I want to add a store card to my revolving cards, and i'd rather have a best buy card instead of a department store..
my score is 597 right now, but it will be 610-620 or so next week when my util drops from 45 % to 1%(1 card 0 bal 1000limit, and 1 card 10balance and 300 limit)
i got a secured loan in april, a sec CC in may, and an orchard(don't bash me lol) in june, i was thinking for this month a Store card would be good?
with a low 600s score, 2 COs 1 paid from '06 and 1 unpaid from '05
2 unpaid collections from '05 and a judgment from '05
3 INQs 5/21 6/25 and 7/1 all '09
do i have a chance? or should i not risk the ding?
@Anonymous wrote:
3 INQs 5/21 6/25 and 7/1 all '09
do i have a chance? or should i not risk the ding?
If you already have 3 inqs, it might not hurt your score much to have another. Try one or two of the simulators to get an idea. I've had 3 recents, and after messing with the simulator, I could theoretically apply several more times and wouldn't hurt much. However, I don't want my AAoA to go down much more, so I'm going to wait... My theory is this - since it doesn't affect your score after 1 yr., I would try and keep my inquiries close so they will be gone (or rather won't count much) by next year - I don't plan on applying for any more credit till then - anyway, that's just my personal case...
Another thing I was wondering about - maybe someone can answer this - If you have inquiries on your CR that don't match TLs, would that maybe hurt your score - in other words the FICO algorithm sees that you applied for and were not given credit...? I know that I read having credit increases score partly because of the theory that the creditors granted you credit because you are creditworthy - make sense? In other words again, if I have 7 inquiries, and only 2 match up with TLs, this means I've probably been turned down for credit 5 times, thus I'm less creditworthy????
bigtim wrote:
...Another thing I was wondering about - maybe someone can answer this - If you have inquiries on your CR that don't match TLs, would that maybe hurt your score - in other words the FICO algorithm sees that you applied for and were not given credit...? I know that I read having credit increases score partly because of the theory that the creditors granted you credit because you are creditworthy - make sense? In other words again, if I have 7 inquiries, and only 2 match up with TLs, this means I've probably been turned down for credit 5 times, thus I'm less creditworthy????
yeah i think im going to go in to the store and apply after im sure the 1000limit 0 balance card has reported...
hopefully they dont try to give me the rewards/MC with an af.. i'll tell them i already pay hsbc an af and dont need another card like that.... i just want a store card and its no big deal what the limit is just as long as there is no af
you're probably right, but i'm not applying for anything else until i can get a prime unsecured card....
i just want the best buy card because i like the store, and i'll be alright, it won't be the first time i've been denied in person.