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How important?

Discussion in 'Credit Talk' started by mindylou, Jul 21, 2001.

  1. Jul 21, 2001 #1
    mindylou

    mindylou Well-Known Member

    hello board. Could someone tell mel how important is it to have a department store card, with credit cards? This is my mix 3 credit cards cap1 gold mc 1800cl, cap1 classic visa 1800cl, AA citi card 6000cl, Kays Jewelers 1100, Ford Credit car loan. hoping to get home loan next year need to get credit score up is now 640. Thanks everyone for all your help.



    mindy
     
  3. Jul 21, 2001 #2
    GEORGE

    GEORGE Well-Known Member

    SUPPOSEDLY IT IS SUPPOSED TO HELP...but I have no INSTALLMENT LOAN except a MORTGAGE...they (EQUIFAX) said I need to apply for one, but it MAY not be worth the inquiry...


    So, I get an inquiry for an installment loan...lose more points than I gain for having it in the MIX???
     
  4. Jul 21, 2001 #3
    brad

    brad Well-Known Member

    Mindylou,important to what? Ten point's on your F.I.C.O score is not going to make or break you.
     
  5. Jul 21, 2001 #4
    sph88

    sph88 Well-Known Member

    The Kay Jewlers card is already considered a retail card.
     
  6. Jul 22, 2001 #5
    Jugnoo

    Jugnoo Well-Known Member

    Be very careful with store cards. Some of them are reported as finance company accounts to CRAs. Make sure that the store cards you apply for are issued by banks and not finance companies.
     
  7. Jul 22, 2001 #6
    roni

    roni Well-Known Member

    is WFFNB a finance co or bank???? I have my VS card from there. And how about RNB....who issues the target card.....yikes!
     
  8. Jul 22, 2001 #7
    Dani

    Dani Well-Known Member

    Roni,

    WFFNB is considered a bank and is considered a tier 1. So no harm done.

    Dani
     

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