how bad are store cards really?

[Anonymous]

I understand that having a file full of subprime store cards doesn't look good to a prime lender, but is it damaging if you have even just one store card? Or can you have multiple store cards, as long as you have more prime cards to balance it out?

Which lenders (or lending scenarios) would close their doors to someone with store cards? How else could having store cards negatively affect me?

It also seems that some store cards are viewed more positively than others; can you provide examples? Thanks in advance!

[killer_queen229]

It's not damaging as long as you take care of them. I have a Kohls store card. I had the TJX Rewards store card and the Old Navy store card but now I have the TJX Rewards MasterCard and the Old Navy Visa. I personally prefer having store cards that I can use outside of the stores they're able to be used at.

[Anonymous]

Too many store cards on manual review can potentially look risky regardless of balance.

It is mostly the having to deal with those accounts which have limited use and can potentially clutter up your report.

Only apply for store cards you will use which will report actual use and thus payment history. An easy approval is easy for a reason.

[joedtx]

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@Anonymous wrote:
Too many store cards on manual review can potentially look risky regardless of balance.

It is mostly the having to deal with those accounts which have limited use and can potentially clutter up your report.

Only apply for store cards you will use which will report actual use and thus payment history. An easy approval is easy for a reason.

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+1

Ultimately too many store cards can have a negative effect.

[Anonymous]

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@joedtx wrote:

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@Anonymous wrote:
Too many store cards on manual review can potentially look risky regardless of balance.

It is mostly the having to deal with those accounts which have limited use and can potentially clutter up your report.

Only apply for store cards you will use which will report actual use and thus payment history. An easy approval is easy for a reason.

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+1

Ultimately too many store cards can have a negative effect.

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+1.

There is nothing wrong with having a store card or two. The problem comes when people see how easy they are to get, and get 20 or 30 of them. They then have a whole bunch of cards which a) have very tiny limits and b) are functionally useless, since they can only be used in the granting store. I don't know that it is any worse than having 20-30 regular cards, but at least regular cards can be used anywhere. 

The point is that if it is a card that you're actually going to use (Lowes is a good example for me), then you shouldn't let the fact that it is a store card stop you. However, you shouldn't apply just because you can. 

[CreditMagic7]

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@Anonymous wrote:

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@joedtx wrote:

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@Anonymous wrote:
Too many store cards on manual review can potentially look risky regardless of balance.

It is mostly the having to deal with those accounts which have limited use and can potentially clutter up your report.

Only apply for store cards you will use which will report actual use and thus payment history. An easy approval is easy for a reason.

---

+1

Ultimately too many store cards can have a negative effect.

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+1.

There is nothing wrong with having a store card or two. The problem comes when people see how easy they are to get, and get 20 or 30 of them. They then have a whole bunch of cards which a) have very tiny limits and b) are functionally useless, since they can only be used in the granting store. I don't know that it is any worse than having 20-30 regular cards, but at least regular cards can be used anywhere. 

The point is that if it is a card that you're actually going to use (Lowes is a good example for me), then you shouldn't let the fact that it is a store card stop you. However, you shouldn't apply just because you can. 

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Unless you are CreditFlunky

From his Siggy

Store cards are the best kept credit repair secret ... give me MORE!
~65 store cards until I can find more

[kdm31091]

If you have a legitimate use for the store card, don't be afraid of one or two. The issue comes with obtaining many many store cards. They tend to stay at tiny limits and are obviously useless outside of the store that issued it. They shouldn't be a majority of your file. A small amount is fine.

[lord_kinbote]

Having too many store cards, will make you cry. Personally, I would avoid all together, but I am guessing one or two would not hurt.

With the same token, I am sure having a ton of sub prime cards also looks bad to prime lenders on manual review.

[Anonymous]

In my case i just have 2 , amazon and walmart , the only 2 places i really buy , later maybe i app for old navy but i want a real logo card. 

[killer_queen229]

I wouldn't get a sub prime card unless I had no where else to turn. I think they're good as far as that goes, but once the situation is better I wouldn't keep them. I think it's better to have a mixture of credit then just to have only store credit cards.