Are cc's having BOTH the store's name and a major's name (Visa, MC Disc or AmEx) on them coded by FICO in USA as a _store_ cc or a _major_ cc, which one? What is the source of your information, please? Links, old posts, USA telephone points of contact welcome. Point: I want to improve my credit mix by getting a Walmart that FICO views as a store card. I already have major cc's and don't need to add another one. From reading various department store websites, I conclude that a store card that doesn't carry a major's logo is considered derogatory: the plain store card is for those who don't qualify for a store-and-major card. Do CRAs, lenders and FICO view store-only cards this way? BTW: My credit history is longer than average, spotless, PIF monthly with about 2% total utilization and no recent hard inquiries, so qualifying for either shouldn't be a problem. But it's thin: no installment loans, no store cards. Thanks.
I don't think they are coded as anything other than revolving or not. If I am wrong someone please correct me.
Most scoring models that I know about usually count revolving or not revolving.That is my knowledge of it.Usually if a major bank is backing a card,it is a credit card.I have read when both the store and the backer's are on the card,the credit qualifications are not as difficult to satisfy.Ie. Walmart Discover vs Applying to Discover directly. Just my two cents.Since I have no need to rebuild,my info may or may not help.
