Looking for a well earned 10 points?

Question

I have a retail card at geeks.com, buy.com, and amazon.com. I tried to get one at macys, jcpennys, sears and best buy but i was unable to. I have come to the conclusion that i have average credit. What other websites can i go on to get retail store credit cards with about average credit. I heard that store cards are a rip off but i can afford to pay for them. 10 points to the best answer in 24 hrs.

Answer 1

How are you coming to the conclusion that you have average credit? Four places have turned you down. That's hardly average! You are being denied because your credit is well below average, especially given the ones that turned you down.

Each time you get another credit card, your credit score drops. Each time you apply for another one, your score drops.

Most financial advisors recommend that you carrry two general use credit cards (Visa, MC or Discover) and no more than one oil company and one retail store card IF you are a regular customer. Anything more than that is going to hurt your credit rating even more.

Answer 2

I have never found it to be any good to have too many credit cards. I have one major credit card that I can use anywhere. I make sure that my payments are always on time and I keep my balance low because that is what affects your credit score. These other stores look at your credit report so they probably know how many you already have and don't want to give you their's for fear you won't pay them. I'd get rid of all but one major one if I were you.

Answer 3

Even if you have the money, you shouldn't be wasting it on silly things like that. They are often a ripoff because they often charge you for owning the credit card that month, even if you haven't put any charges on the account. Additionally, if you fail to pay for whatever reason, they charge astronomically high rates. In other cases, you have to pay to originally start using the card and then get your "rewards" like coupons for 10% or something similar, in which case, you will be forced to buy something initially to even receive your supposed "benefit". Try finding a singular credit card and paying that off regularly, and maybe your credit will actually improve and won't be a setback when you try to apply for a loan, a new car, a residence, etc.

Answer 4

If you have Amazon.com and Buy.com cards, you have fullblowwn credit cards issued by BankOne/Chase, since those merchants issue just this specific type of credit.

Generally any time I had luck with Chase credit cards, it was worth trying to apply for its major competitor, Providian. The ones you can try are PayPal Visa Card (by Providian) or Washington Mutual MasterCard (by Washington Mutual, which is currently Providian as well).

They rely on the same data, and if they see a competitor happily supplying you with the credit, they will try to catch up as well.

CapitalOne is another one, but their rewards programs are not that good, unless you fly a lot and like generating miles for their selection of the airlines.

Answer 5

If you're getting denied for store cards, you probably don't have "average credit." Average credit is very good (above 700 on the FICO scale) and getting declined for store cards is indicative of a score of less than 600, and although that score may be in the middle of the range, it is nowhere near "average." If you're looking to just build credit with these cards, try a secured credit card, instead.

Anyway, though, you should probably check your credit report and score. Try http://www.fico.org for more info and http://www.myfico.com to get the credit report and score report.

Answer 6

You don't pay to have store credit cards, is that what you meant? If all the stores turned you down for their credit cards it probably means you have bad credit. You may have too many credit cards right now. Try cancelling (by letter) some of your credit cards, you may be overextended on your credit rather than bad credit. After you cancel some of your cards try again at one of the department stores. Good luck with it.

Answer 7

Maybe your credit has been red flagged for some reason, probably because you are applying for all these lines of credit. Anyone should be able to get a store card. And, yes, they are a rip off. Usually 20+ % interest.

Answer 8

I have really bad credit and target issued me a store card with a $500 balance. I don't think store cards are rip offs. My target card has less interest than my credit card. That is because the store knows you can only use the card at their store.

Answer 9

Research a place that reports to all credit places. Once you start a good credit history with this type of credit reports, then your credit report will slowly but surely increase. If you continue to have people check your credit, ie: credit purchaces through retailers, then your credit report shows that people keep
checking your credit report, and its bad news my friend. If your credit report is frequently visited then it shows on your credit report, and actually makes your score go down!! Believe it or not. Pay off all of your current debt with these retailers. Do not take out anymore accounts, and don't have anyone check your report. After you pay of these accounts, then they report that to credit places, and then you are on your way to getting your credit score up to par. Those retail places have really high interest rates, I would suggest paying them off sooner than later. Good luck my friend!

Answer 10

Dont go for your top line department stores.. start off at Sears and work your way UP... Also,, although depending on your views.. LIE... All the credit card companies are going to do is pull a credit bureau on you & go off what you put on the application... Soooo,,,, claim that you own your home,,, put down 5 years as job time,, and of course you have a savings & checking and boost your income by at least $500 a month---MAKE yourself look attractive to a credit analyist... After all--- they are only going to pull your credit bureau & go off what you put down---they very rarely verify job/residence or income... I guarantee you -- you will get all the credit you desire....