Department store CC'S

[Anonymous]

Hey FICO family my FICO 8 score is 626 and climbing I checked a few pre quals yesterday and I was approved for a kohls card, are they good at rebuilding/building credit like target, Walmart credit cards do they hold any weight in the game if credit? Thanks family 

[Anonymous]

I will let others weigh in, but honestly I'm not a big fan of store cards because of how restricted they are. They can be a good deal if you shop at that store a ton but I would almost always rather pick up a secured card  that graduates.  

[Anonymous]

Yeah department store cards do not have the same weight bankcards do. You need at least 3 bankcards. Department store cards do count as accounts and can build history, but they don’t take away the requirement for the 3 bankcards and they also reduce your Credit based insurance scores in all but four states so that’s another consideration. Personally I would only get a store card if it saved me money.

[Anonymous]

What type of insurance does that apply to, auto?

[Anonymous]

Both home and auto

[Anonymous]

Credit union credit cards increase your score if you’re interested. there’s a whole bunch of things you would never dream of that affect it!

[Anonymous]

Thank you guys soooo much I'll pass on the kohls card, and just get a BOA secured card thanks FICO family

[Anonymous]

Wise choice, congratulations and good luck!