@Anonymous wrote:Last silly question guys....
My wife is 25 and never had a credit card. We are looking to get a home (newlyweds) and she pulled her credit report. Of course, she has no credit. No good credit or bad credit. No credit. lol
Her negatives on her report were:
No department store cards
No revolving payment accounts
No mortgage
No credit cards
She immediately applied for a credit card and was accepted. Now she has a Visa.
Technically she has a credit card now that she is going to use for gas every month and pay off at the end of every month.
1. Does she still need a department store card now or is that on there just because she did not have a credit card or it could have been hard for her to get one?
2. It said no revolving accounts...If she pays it off completely every month is that not going to count towards raising her credit score and getting rid of the negative of "no revolving account"?
3. Is one account enough?
We are just very concerned and not wanting a bunch of credit cards. We both had bad childhood experiences from when we were young with our parents and credit cards. We only want as much as we need to maximize our credit scores.
Thanks so much,
Douglass
Was this a FICO report, or a score report from a credit bureau, which is generally a FAKO report?
I know of no negative FICO score factors for not having a department store card.
Two CC's, both bank cards (= Visa, MC, AmEx, Discover logos on the card somewhere), with at least one from a big-boy bank rather than a credit union, should be plenty. Used and paid promptly, she should have FICO scores between 700-720 after a year.
A CC can be "co-branded" --with both a store logo and a bank logo --and it will still count as a bank card. So a straight Sears card is just a store card, but a Sears MC from Citi counts as a bank card. Lots of other examples, and I am definitely not recommending that particular card. 
