understanding store credit card(s)

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

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@Anonymous wrote:

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@Anonymous wrote:

Are you referring to the store card or the Amazon Chase Visa?

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Aamazon.com store card. issuer: Synchrony Bank.

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Oh ok, thats not a Visa, just to be used on Amazon purchases. It will affect your score the same as any other inquiry, new account, etc. would. If you don't often shop on Amazon, I would avoid it. After the intro APR the APR becomes something like 26.99% (?). Then, you just have another account for no reason.

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i have never kept a revolving balance. how would it impact my credit score?

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Without more information for you, that's about the best you'll get.

[Anonymous]

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@Anonymous wrote:

---

@Anonymous wrote:

---

@Anonymous wrote:

Are you referring to the store card or the Amazon Chase Visa?

---

Aamazon.com store card. issuer: Synchrony Bank.

---

Oh ok, thats not a Visa, just to be used on Amazon purchases. It will affect your score the same as any other inquiry, new account, etc. would. If you don't often shop on Amazon, I would avoid it. After the intro APR the APR becomes something like 26.99% (?). Then, you just have another account for no reason.

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i forgot to mention, yes i shop A LOT at amazon and have been for a few years now and yes, you are pretty close, its 25.99. 

i neither know how a new inquiry/new account affect a credit score, nor do i know the impact of revolving balance. i am trying to get an understanding of both and am all eyes right now. knowing my credit score, would both appear as negative, or one as positive? in the next month or two, i am planning on buying a new car (ie., not a cash trasnaction from craigs list item).

[Anonymous]

If you carry the balance instead of paying it off it may increase your utilization a bit. 

[jamesdwi]

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@Anonymous wrote:

greetings,

am about to purchase HDTV from Amazon, roughly about $2500. my first instinct was to use my AMEX (CL $15k) untill i saw the promotion of 12 month financing if purchased using store credit card (Visa). i am tempted to get the store credit card and purchase the item and enjoy the convenience of payment over 12 months, interest free. i am contacting Amazon becuase i have some concerns regarding returning the item (just in case there is some issue) but thats a separate thing and sorry i digreseed. i do need to understand how this would impact my credit report if i were to proceed via store credit card. 

thanks in advance.

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each has their advantages and disadvantages, the store card has 0 interest for X months, AMEX or prime visa cards most likely will extend the warranty for upto a year.  

Do your research make sure you are getting a good price, amazon pricing can be the best, but some of the stuff isn't a good price and their prices change with demand. 

check out slickdeals.net and see if there are any good deals on tv's you might like, lots of honest reviews and advice if the deal is good or not. 

[Anonymous]

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@Anonymous wrote:

---

@Anonymous wrote:

---

@Anonymous wrote:

---

@Anonymous wrote:

Are you referring to the store card or the Amazon Chase Visa?

---

Aamazon.com store card. issuer: Synchrony Bank.

---

Oh ok, thats not a Visa, just to be used on Amazon purchases. It will affect your score the same as any other inquiry, new account, etc. would. If you don't often shop on Amazon, I would avoid it. After the intro APR the APR becomes something like 26.99% (?). Then, you just have another account for no reason.

---

i forgot to mention, yes i shop A LOT at amazon and have been for a few years now and yes, you are pretty close, its 25.99. 

i neither know how a new inquiry/new account affect a credit score, nor do i know the impact of revolving balance. i am trying to get an understanding of both and am all eyes right now. knowing my credit score, would both appear as negative, or one as positive? in the next month or two, i am planning on buying a new car (ie., not a cash trasnaction from craigs list item).

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http://ficoforums.myfico.com/t5/Understanding-FICO-Scoring/bd-p/ficoscoring

Check out that sub-forum that I posted a link to. It should be able to help you out. Are you pulling your scores from MyFico? If so, you can use the "Score Simulator" and see what happens when you add a store card. We can't tell you what you want to know exactly. If you read some threads on that link you can begin to understand how scoring works.

[skigirl916]

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@Anonymous wrote:

---

@Anonymous wrote:

---

@Anonymous wrote:

---

@Anonymous wrote:

---

@Anonymous wrote:

Are you referring to the store card or the Amazon Chase Visa?

---

Aamazon.com store card. issuer: Synchrony Bank.

---

Oh ok, thats not a Visa, just to be used on Amazon purchases. It will affect your score the same as any other inquiry, new account, etc. would. If you don't often shop on Amazon, I would avoid it. After the intro APR the APR becomes something like 26.99% (?). Then, you just have another account for no reason.

---

i have never kept a revolving balance. how would it impact my credit score?

---

Without more information for you, that's about the best you'll get.

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An inquiry, a new account, lowering your AAoA, and now carrying a revolving balance thus causing your utlization to increase - all of these will/can cause your score to go down.  How much, none of us can tell you, as we haven't designed the the FICO formulas and have very little information from you otherwise to go on.

[Anonymous]

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@Anonymous wrote:

---

@Anonymous wrote:

---

@Anonymous wrote:

---

@Anonymous wrote:

---

@Anonymous wrote:

Are you referring to the store card or the Amazon Chase Visa?

---

Aamazon.com store card. issuer: Synchrony Bank.

---

Oh ok, thats not a Visa, just to be used on Amazon purchases. It will affect your score the same as any other inquiry, new account, etc. would. If you don't often shop on Amazon, I would avoid it. After the intro APR the APR becomes something like 26.99% (?). Then, you just have another account for no reason.

---

i forgot to mention, yes i shop A LOT at amazon and have been for a few years now and yes, you are pretty close, its 25.99. 

i neither know how a new inquiry/new account affect a credit score, nor do i know the impact of revolving balance. i am trying to get an understanding of both and am all eyes right now. knowing my credit score, would both appear as negative, or one as positive? in the next month or two, i am planning on buying a new car (ie., not a cash trasnaction from craigs list item).

---

http://ficoforums.myfico.com/t5/Understanding-FICO-Scoring/bd-p/ficoscoring

Check out that sub-forum that I posted a link to. It should be able to help you out. Are you pulling your scores from MyFico? If so, you can use the "Score Simulator" and see what happens when you add a store card. We can't tell you what you want to know exactly. If you read some threads on that link you can begin to understand how scoring works.

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thanks for the ilnk  

and yes, i am using myfico. i am not sure if i have the score simulator but will check. my aim is to gain more understanding of the possible impacts rather than absolute values (i am not interested in knowing if N would be either added or subtracted from my credit score but rahter if there's going to be an addition or subtraction)

[Anonymous]

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@skigirl916 wrote:

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@Anonymous wrote:

---

@Anonymous wrote:

---

@Anonymous wrote:

---

@Anonymous wrote:

---

@Anonymous wrote:

Are you referring to the store card or the Amazon Chase Visa?

---

Aamazon.com store card. issuer: Synchrony Bank.

---

Oh ok, thats not a Visa, just to be used on Amazon purchases. It will affect your score the same as any other inquiry, new account, etc. would. If you don't often shop on Amazon, I would avoid it. After the intro APR the APR becomes something like 26.99% (?). Then, you just have another account for no reason.

---

i have never kept a revolving balance. how would it impact my credit score?

---

Without more information for you, that's about the best you'll get.

---

An inquiry, a new account, lowering your AAoA, and now carrying a revolving balance thus causing your utlization to increase - all of these will/can cause your score to go down.  How much, none of us can tell you, as we haven't designed the the FICO formulas and have very little information from you otherwise to go on.

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thanks skigirl916. thats one thing i wanted ot know. ie., score going up or down. wasn't looking for neither expecting an exact number. thanks again. 

i will be spending time going through the link posted in the above reply.

[Anonymous]

Some of the HDTV's are 24 month equal pay 0%APR. 

http://www.amazon.com/gp/feature.html?ie=UTF8&docId=1000610021&plgroup=2