Easy to Get Merchant Credit Cards
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:
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.
_________________
Regards,
Curtis Arnold
Board Monitor
http://www.CardRatings.com
20K+ Credit Card Reviews
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
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
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:
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.
_________________
Regards,
Curtis Arnold
Board Monitor
http://www.CardRatings.com
20K+ Credit Card Reviews
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
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
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 6:29 PM
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