What Store card is best for growing and starting out?

[Anonymous]

Good Evening;

I have read around here that some cards can grow very fast and help cushion utilization, I was wondering which card has the greatest chance of growing to 10,000+; I would like a card that would be an easy approval with a fluctuating score. Im currently in the low 600's and high 500's.......... All my cards are low now which I expect but Kohls will only grow up to 3,000$ and Ive read that Kohls growing above 1,000$ is rare even for those who have great credit. VonMaur won't ever report a limit and I've read high amounts for limits dont really happen and that eventually I wont even have a hard credit limit. As for Fingerhut its starting at 250$ Im not going to be using it much at all so I highly doubt FingerHut will grow to be very large. Capital One is secured so It probably wont ever go high, as For my Discover its also secured but could go high within a few years I assume. 

Thanks so much for your help I would prefer to not deal with Comenity or Synchrony if at all possible; Ive heard bad things about Comenity dropping limits for inactivity and even randomly closing accounts...

Any ideas or suggestions will be appreciated I'm currently gardening but want to do some research and get an idea of what store card to look at for a high limit and very frequent credit limit increases.

Regards

[Anonymous]

How long have you had your current cards? If you just recently got them, I would suggest waiting 6months to even 1 year to build credit history then apply for an unsecured credit card with Capital one. I suggest the QS1. After you are approved and your scores hit 600-650 you can try for store cards. I heard Walmart is good and can give you a high credit line. As well as Samsclub or Paypal or Lowes or Gap. Basically, anything synchrony bank offers. Personally, I won't touch them till my scores are 720 so I can try and get those 20k+ CL. Hope this helps.

P.S. Don't close the secured cards until you finish getting the store cards you want so your score isn't affected during your app spree. Close them after or try to PC.

- Keep 1-9% utilization between all cards and only one card reporting a balance. I would revolve them. So, Khols reports this month, next CO, next finger hut etc. Or not. I am still testing in regards to that. I created a 5% total but on one card and my credit score went down by 8 points. I will see this month if I bring it down to 3% on the same card if my score will go up. Also, my auto loan just got transferred so that line of credit got closed. So, I don't know if that could be the factor.

[Anonymous]

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@Anonymous wrote:

How long have you had your current cards? If you just recently got them, I would suggest waiting 6months to even 1 year to build credit history then apply for an unsecured credit card with Capital one. I suggest the QS1. After you are approved and your scores hit 600-650 you can try for store cards. I heard Walmart is good and can give you a high credit line. As well as Samsclub or Paypal or Lowes or Gap. Basically, anything synchrony bank offers. Personally, I won't touch them till my scores are 720 so I can try and get those 20k+ CL. Hope this helps.

P.S. Don't close the secured cards until you finish getting the store cards you want so your score isn't affected during your app spree. Close them after or try to PC.

- Keep 1-9% utilization between all cards and only one card reporting a balance. I would revolve them. So, Khols reports this month, next CO, next finger hut etc. Or not. I am still testing in regards to that. I created a 5% total but on one card and my credit score went down by 8 points. I will see this month if I bring it down to 3% on the same card if my score will go up. Also, my auto loan just got transferred so that line of credit got closed. So, I don't know if that could be the factor.

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Thanks for the advice Most have been opened since early to late january. they Fingerhut graduated so that started in late feb ohls was mid feb and discover was early feb.. So Im gardening until the 6 month mark unless a really good secured card comes up.... I had thought about another store card at around 2-3 months if my credit score is doing well. Im Planning to keep my secured cards. Discover should graduate at 12 months.

[Anonymous]

I am not sure if you could get a decent starting limit, or maybe not approved, unless your score is around 620. 

After 620, I would consider Amazon store card and Walmart store card, both from Synchrony.

I have also heard that several people have high limits with a Lowes CC, also from Synchrony.

Most store cards are from Comenity or Synchrony.

I have an Overstock store card, but I doubt it will grow to 10k.

In any case, I think its going to take a good amount of patience to get CCs of any type, store or Visa / MC, to get high CLIs without a solid credit profile, including history and income.

GL, and hth

[takeshi74]

You cannot rely sole on the card, whether store or credit, for limit.  Your credit profile and income will determine the limit that you qualify for.  If you have low limits and need to reduce revolving utilization then pay down balances prior to their report dates.

Your scores and your limits indicate that there are issues with your credit profile.  If you want higher limits then identify and work on those issues.  Don't just app for new cards to solve your problem.

[Anonymous]

I also recommend the Amazon store card!

[Anonymous]

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@takeshi74 wrote:

You cannot rely sole on the card, whether store or credit, for limit.  Your credit profile and income will determine the limit that you qualify for.  If you have low limits and need to reduce revolving utilization then pay down balances prior to their report dates.

Your scores and your limits indicate that there are issues with your credit profile.  If you want higher limits then identify and work on those issues.  Don't just app for new cards to solve your problem.

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The only problem i can think of is AAoA because Im paying everything off to zero every month and only carrying a 9%-10% credit utilization for reporting purposes then I pay it off the moment the statment cuts.... I was just wanting a card that would grow to have a high limit Im expecting to start out with a limit around 100-500$ I was just looking for a card with frequent credit limit increases and generous increases. I cant exactly make the AAoA be fixed in an instance..... I had noted I'd be applying in 6-12months but was just doing research now. Thanks for your help

[Revelate]

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@Anonymous wrote:

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@takeshi74 wrote:

You cannot rely sole on the card, whether store or credit, for limit.  Your credit profile and income will determine the limit that you qualify for.  If you have low limits and need to reduce revolving utilization then pay down balances prior to their report dates.

Your scores and your limits indicate that there are issues with your credit profile.  If you want higher limits then identify and work on those issues.  Don't just app for new cards to solve your problem.

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The only problem i can think of is AAoA because Im paying everything off to zero every month and only carrying a 9%-10% credit utilization for reporting purposes then I pay it off the moment the statment cuts.... I was just wanting a card that would grow to have a high limit Im expecting to start out with a limit around 100-500$ I was just looking for a card with frequent credit limit increases and generous increases. I cant exactly make the AAoA be fixed in an instance..... I had noted I'd be applying in 6-12months but was just doing research now. Thanks for your help

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Or just wait for the yearish mark and get an Amex revolver anyway and skip the store card route.  There are a couple store cards worth having, but none of them for building limits as they are routinely ignored by national banks at least from the anecdotal stories here.  Limits are pretty easy to build with the big boys these days, that may change if we slip into a recession but for now the getting is still very very good.

[Anonymous]

I think you have 2 pretty good cards that grow. Capital One will give CLI once or twice a year if you use the card enough to justifiy an increase. Discover seems to give increases even more but doesn't need heavy usage. I know you wanted more store cards, but I think bank cards will give you higher limits. However at this point, I suggest you garden for 2 years. In that time your cards will automatically increased their limits if you pay in full.

[tussking]

IMO....Do yourself a huge favor and be patient and keep checking the Cap One site prequal. Once you get your foot in the door be patient and in a few months more doors will open ! I tried for Amazon - Walmart - DENIED - DENIED...I say the hell with store cards !