Store card?

[J91605]

Just a quick question. I don't have any store cards and don't want any really, but I've seen people say they aren't worth it any way. I am wondering why do they not affect your credit like other revolving accounts?

[Anonymous]

---

@J91605 wrote:

Just a quick question. I don't have any store cards and don't want any really, but I've seen people say they aren't worth it any way. I am wondering why do they not affect your credit like other revolving accounts?

---

They are scored "slightly less" than regular bank revolving accounts. Only FICO knows the reason why.

[J91605]

Does the trade line look different on your report?

[Anonymous]

Bank cards will report as "account type - credit card" and store cards will report as "account type - charge account"

[J91605]

Thanks Norman. Glad I never wanted any.

[Anonymous]

I have no clue if a store card will help your credit score but if i were you i would probably get one anyway simply to diversify my "portfolio" and to show to the credit bureaus i can manage all forms of credit properly.

[J91605]

Maybe. I'll look into in it I have a car loan and 3 revolving accounts. 2 are about to report for the first time. I have a lot of HPs because of the car loan. The bad thing is it took about three weeks and they pulled my credit multiple times over that period. I don't believe they all count as one. So I don't know if it is worth another HP. I'm only going to app once more in the next year and that's when I feel confident about approval on a QS1. I'll think on it though. What do you think Norman?

[J91605]

Are there any store cards I can get approved for without a HP?

[Anonymous]

99.99% sure you can not.

[Anonymous]

search shopping cart trick