Using Store Credit Cards to Build Credit
Author: righthusk
Posted: Sat Dec 03, 2005 3:09 pm
Post subject: Using Store Credit Cards to Build Credit
For those of us without credit cards trying to build our credit store cards are often cited as a good way to start. However, some store cards are associated with major creditors like the Amazon.com Visa card and the Walmart Discover card--are these store cards just as difficult to get for newbies as other regular unsecured cards? Should someone starting out instead stick to the store cards that aren't associated with visa, MC, discover, amex; etc?
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Author: boslight
Posted: Sun Dec 04, 2005 3:49 am
Post subject: Using Store Credit Cards to Build Credit
You can get a bank debit card to start building credit history. This is usually easier, as long as you have a checking account.
Suthor: QikPass
Posted: Sun Dec 04, 2005 5:43 am
Post subject: Using Store Credit Cards to Build Credit
Debit cards are not reported on your credit history
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Author: db619196
Posted: Sun Dec 04, 2005 8:07 am
Post subject: Using Store Credit Cards to Build Credit
righthusk,
The Amazon Visa is not the same as a store card, and would require a credit history. I applied for and got one about 7 months after I established my credit history.
Here is what I did to establish credit: I wrote my local credit union, and reminded them that I have been a good customer since I was in high school, and I asked them for a chance to get a credit card to establish my history. I also let my dad be on the card with me. They agreed, and he was on it, and I got a 500 dollar limit. Soon after this, I got a Sam's Club card with 1200 dollar limit, then its been smoth sailing credit wise since then.
Strangely, I was denied a Kohl's card even after I had the other two, and got approved for an Amazon Visa card 2 months later! So Kohl's apparently doesn't buy into the theory that their cards are easier to get.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Author: scarymary
Posted: Sun Dec 04, 2005 10:14 am
Post subject: Using Store Credit Cards to Build Credit
Don't fret... I was approved for Citi Platinum Select MC for $7700 and a few other top of the line cards but Strawbridges felt I wasn't fit to wipe their boots and denied me...
I THINK is was because of too many inquiries... I've gotten 5 new accounts since August... Most have contacted TU for the inquiry.
Posted: Sat Dec 03, 2005 3:09 pm
Post subject: Using Store Credit Cards to Build Credit
For those of us without credit cards trying to build our credit store cards are often cited as a good way to start. However, some store cards are associated with major creditors like the Amazon.com Visa card and the Walmart Discover card--are these store cards just as difficult to get for newbies as other regular unsecured cards? Should someone starting out instead stick to the store cards that aren't associated with visa, MC, discover, amex; etc?
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Author: boslight
Posted: Sun Dec 04, 2005 3:49 am
Post subject: Using Store Credit Cards to Build Credit
You can get a bank debit card to start building credit history. This is usually easier, as long as you have a checking account.
Suthor: QikPass
Posted: Sun Dec 04, 2005 5:43 am
Post subject: Using Store Credit Cards to Build Credit
Debit cards are not reported on your credit history
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Author: db619196
Posted: Sun Dec 04, 2005 8:07 am
Post subject: Using Store Credit Cards to Build Credit
righthusk,
The Amazon Visa is not the same as a store card, and would require a credit history. I applied for and got one about 7 months after I established my credit history.
Here is what I did to establish credit: I wrote my local credit union, and reminded them that I have been a good customer since I was in high school, and I asked them for a chance to get a credit card to establish my history. I also let my dad be on the card with me. They agreed, and he was on it, and I got a 500 dollar limit. Soon after this, I got a Sam's Club card with 1200 dollar limit, then its been smoth sailing credit wise since then.
Strangely, I was denied a Kohl's card even after I had the other two, and got approved for an Amazon Visa card 2 months later! So Kohl's apparently doesn't buy into the theory that their cards are easier to get.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Author: scarymary
Posted: Sun Dec 04, 2005 10:14 am
Post subject: Using Store Credit Cards to Build Credit
Don't fret... I was approved for Citi Platinum Select MC for $7700 and a few other top of the line cards but Strawbridges felt I wasn't fit to wipe their boots and denied me...
I THINK is was because of too many inquiries... I've gotten 5 new accounts since August... Most have contacted TU for the inquiry.
posted by CardRatings.com at 12:18 PM
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