Merchant Credit Cards That Are Easy to Get
Author: kouichi
Posted: Fri Mar 17, 2006 3:32 am
Post subject: easy to get merchant credit cards?
One professor of mine said this last week: for merchant credit cards (such as macy, target, amazon, etc) they would approve almost anyone it's like anyone with a pulse could get approved. The only downside she mentioned is that for every approval you get a ding of 20 credit score. Is this true? Is is that easy to get a merchant credit card? I wanted to get a few for shops that I shop at frequently but I am scared of the credit score drop on both when they your credit scores and that 20 score drop. Can someone please advise? Thank you!
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Author: TomfromCT
Posted: Fri Mar 17, 2006 8:10 am
Post subject: cards
Merchant cards are often considered easier to get. The balances they approve are often very low. 100-400 dollars. The limited exposure helps them give credit to people with lower scores
Often the companies that adminster the cards can be brutal to work with. Do not get close to your due date. And expect problems with no interest offers unless you are an expert at reading leagalise.
It helps to look at the card ratings on www.cardratings.com to see the experiences other people have had with a card you are interested in.
As for the point. 1 credit check will cost 2-5 points on your report. New rpeorting system starts soon. I;m not sure what the hit will be then.
Author: Board Monitor
Posted: Fri Mar 17, 2006 8:11 am
Post subject:
Greetings and welcome to the board! 20 points- Wow!!! Where did you prof get this info.? From everything I've read and seen, it more like 5 points or so.
_________________
Best Regards,
Curtis Arnold
Board Monitor
http://www.cardratings.com
(501) 663-0314
Author: mouse
Posted: Fri Mar 17, 2006 8:29 am
Post subject: Re: easy to get merchant credit cards?
kouichi wrote:
One professor of mine said this last week: for merchant credit cards (such as macy, target, amazon, etc) they would approve almost anyone it's like anyone with a pulse could get approved. The only downside she mentioned is that for every approval you get a ding of 20 credit score. Is this true? Is is that easy to get a merchant credit card? I wanted to get a few for shops that I shop at frequently but I am scared of the credit score drop on both when they your credit scores and that 20 score drop. Can someone please advise? Thank you!
ME -7 EACH (EQ)
I would have to do 3 applications to get -21
Author: Ira
Posted: Fri Mar 17, 2006 12:27 pm
Post subject:
Quote:
every approval you get a ding of 20 credit score
Really? And what reference did your professor use to prove this rash statement? Did he say how a disapproval influences your score? Did he know anything about credit history and how that influences your score? What about utilization?
Sorry, I'm just making a point that your professor, who may be very knowledgable in other areas, seems to know very little about consumer credit. If he knew the least little thing he would tell you that scores don't matter and don't turn into a credit score junkie. As long as you use your credit responsibly and pay your bills on time, every time, you don't have to worry about your score. Run your life to suit yourself, not to suit your credit score.
_________________
Do not let what you cannot do interfere with what you can do.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Posted: Fri Mar 17, 2006 3:32 am
Post subject: easy to get merchant credit cards?
One professor of mine said this last week: for merchant credit cards (such as macy, target, amazon, etc) they would approve almost anyone it's like anyone with a pulse could get approved. The only downside she mentioned is that for every approval you get a ding of 20 credit score. Is this true? Is is that easy to get a merchant credit card? I wanted to get a few for shops that I shop at frequently but I am scared of the credit score drop on both when they your credit scores and that 20 score drop. Can someone please advise? Thank you!
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Author: TomfromCT
Posted: Fri Mar 17, 2006 8:10 am
Post subject: cards
Merchant cards are often considered easier to get. The balances they approve are often very low. 100-400 dollars. The limited exposure helps them give credit to people with lower scores
Often the companies that adminster the cards can be brutal to work with. Do not get close to your due date. And expect problems with no interest offers unless you are an expert at reading leagalise.
It helps to look at the card ratings on www.cardratings.com to see the experiences other people have had with a card you are interested in.
As for the point. 1 credit check will cost 2-5 points on your report. New rpeorting system starts soon. I;m not sure what the hit will be then.
Author: Board Monitor
Posted: Fri Mar 17, 2006 8:11 am
Post subject:
Greetings and welcome to the board! 20 points- Wow!!! Where did you prof get this info.? From everything I've read and seen, it more like 5 points or so.
_________________
Best Regards,
Curtis Arnold
Board Monitor
http://www.cardratings.com
(501) 663-0314
Author: mouse
Posted: Fri Mar 17, 2006 8:29 am
Post subject: Re: easy to get merchant credit cards?
kouichi wrote:
One professor of mine said this last week: for merchant credit cards (such as macy, target, amazon, etc) they would approve almost anyone it's like anyone with a pulse could get approved. The only downside she mentioned is that for every approval you get a ding of 20 credit score. Is this true? Is is that easy to get a merchant credit card? I wanted to get a few for shops that I shop at frequently but I am scared of the credit score drop on both when they your credit scores and that 20 score drop. Can someone please advise? Thank you!
ME -7 EACH (EQ)
I would have to do 3 applications to get -21
Author: Ira
Posted: Fri Mar 17, 2006 12:27 pm
Post subject:
Quote:
every approval you get a ding of 20 credit score
Really? And what reference did your professor use to prove this rash statement? Did he say how a disapproval influences your score? Did he know anything about credit history and how that influences your score? What about utilization?
Sorry, I'm just making a point that your professor, who may be very knowledgable in other areas, seems to know very little about consumer credit. If he knew the least little thing he would tell you that scores don't matter and don't turn into a credit score junkie. As long as you use your credit responsibly and pay your bills on time, every time, you don't have to worry about your score. Run your life to suit yourself, not to suit your credit score.
_________________
Do not let what you cannot do interfere with what you can do.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
posted by CardRatings.com at 12:15 AM
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