Cards I Got But Didn't Want/Need...

[cv91915]

I was discussing in another thread my Express credit card, which I had no use for when I got it. Still don't.

 

I also have a Bridgestone/Firestone CFNA card that I got because I thought I'd use it for a set of tires... but that was before I decided that I couldn't live without a set of Michelin Pilot Super Sports. Alas.

 

What else can I buy at a BSFS store besides tires? I only have once car, and I prepaid (at dealer cost) all of the maintenance through 105,000 miles when I bought it, and I now have a great set of tires that won't need to be replaced before my BSFS card could expire due to inactivity, which I would rather not have happen. The card's never been used.

 

Any ideas? Maybe I'll just drop by a store and buy an air freshener. Do you think Mom would appreciate a set of spark plugs for Mother's Day?

[A4K]

I was discussing in another thread my Express credit card, which I had no use for when I got it. Still don't.

 

I also have a Bridgestone/Firestone CFNA card that I got because I thought I'd use it for a set of tires... but that was before I decided that I couldn't live without a set of Michelin Pilot Super Sports. Alas.

 

What else can I buy at a BSFS store besides tires? I only have once car, and I prepaid (at dealer cost) all of the maintenance through 105,000 miles when I bought it, and I now have a great set of tires that won't need to be replaced before my BSFS card could expire due to inactivity, which I would rather not have happen. The card's never been used.

 

Any ideas? Maybe I'll just drop by a store and buy an air freshener. Do you think Mom would appreciate a set of spark plugs for Mother's Day?

 

I guess it all depends on where you are on your credit journey. If you are starting anew, these small store cards are a decent first step to re-establishing credit. If you have a great credit history that is well established, then these store cards are of little value unless they offer a LARGE discount on products or services with their use.

 

Maybe your mom would like some fuzzy dice?

Edited February 22, 2013 by A4K

[Witz]

You could always get her oil changed or brakes checked. There are always discount coupons floating around for these services too.

[cv91915]

 

I was discussing in another thread my Express credit card, which I had no use for when I got it. Still don't.

 

I also have a Bridgestone/Firestone CFNA card that I got because I thought I'd use it for a set of tires... but that was before I decided that I couldn't live without a set of Michelin Pilot Super Sports. Alas.

 

What else can I buy at a BSFS store besides tires? I only have once car, and I prepaid (at dealer cost) all of the maintenance through 105,000 miles when I bought it, and I now have a great set of tires that won't need to be replaced before my BSFS card could expire due to inactivity, which I would rather not have happen. The card's never been used.

 

Any ideas? Maybe I'll just drop by a store and buy an air freshener. Do you think Mom would appreciate a set of spark plugs for Mother's Day?

 

I guess it all depends on where you are on your credit journey. If you are starting anew, these small store cards are a decent first step to re-establishing credit. If you have a great credit history that is well established, then these store cards are of little value unless they offer a LARGE discount on products or services with their use.

 

Maybe your mom would like some fuzzy dice?

 

I still have a lot of work to do on my AAOA, even after achieving most of my highest-priority credit goals. I really don't want any account closing at this point.

 

Fuzzy dice! Does Michael Kors have a line of fuzzy dice at BSFS? She might like those...

[encoder]

I distinctly chose NOT to go the "collect as many tiny TL's as I can from GEMB etc" route. Mostly because I knew I couldn't use them (I have no use for a $300 credit limit of any kind, even when I was re-building). And I knew they'd pose a problem when I had clean reports and a 750 fico and now what to do about these dozen off-brand store cards...

 

Though I love the way Express jeans fit. Not as good on me as Kenneth Cole, but the're good. And I have some gray flannel trousers from there that I love.

[A4K]

I distinctly chose NOT to go the "collect as many tiny TL's as I can from GEMB etc" route. Mostly because I knew I couldn't use them (I have no use for a $300 credit limit of any kind, even when I was re-building). And I knew they'd pose a problem when I had clean reports and a 750 fico and now what to do about these dozen off-brand store cards...

 

Though I love the way Express jeans fit. Not as good on me as Kenneth Cole, but the're good. And I have some gray flannel trousers from there that I love.

You can always close them, once you get some BIG bank cards with real limits.

[cv91915]

I distinctly chose NOT to go the "collect as many tiny TL's as I can from GEMB etc" route. Mostly because I knew I couldn't use them (I have no use for a $300 credit limit of any kind, even when I was re-building). And I knew they'd pose a problem when I had clean reports and a 750 fico and now what to do about these dozen off-brand store cards...

 

Though I love the way Express jeans fit. Not as good on me as Kenneth Cole, but the're good. And I have some gray flannel trousers from there that I love.

 

I will say that my Express card and my BSFS cards were victories in the sense that few others would have approved me at the time, and without the occasional taste of success I may just have given up. I have no regrets, despite the actual short-term utility of some of my accounts. Now I just want to keep them open for AAOA purposes.

 

I do like the stuff at Express, it's just that with the huge closets I already have full of stuff, I just don't need any more clothes for approximately the rest of my life.

Edited February 22, 2013 by cv91915

[wandjust]

I also got a Firestone card just the other day ($1200) I have no use for it other than rebuilding my credit after a bankruptcy 1 yr ago. I wouldn't let them touch my car for any reason whatsoever, except maybe a new windshield wiper.

[cv91915]

I also got a Firestone card just the other day ($1200) I have no use for it other than rebuilding my credit after a bankruptcy 1 yr ago. I wouldn't let them touch my car for any reason whatsoever, except maybe a new windshield wiper.

 

 

I guess you'll be buying wiper blades every 11.9 months or so to keep yours open then.

[A4K]

 

I distinctly chose NOT to go the "collect as many tiny TL's as I can from GEMB etc" route. Mostly because I knew I couldn't use them (I have no use for a $300 credit limit of any kind, even when I was re-building). And I knew they'd pose a problem when I had clean reports and a 750 fico and now what to do about these dozen off-brand store cards...

 

Though I love the way Express jeans fit. Not as good on me as Kenneth Cole, but the're good. And I have some gray flannel trousers from there that I love.

 

I will say that my Express card and my BSFS cards were victories in the sense that few others would have approved me at the time, and without the occasional taste of success I may just have given up. I have no regrets, despite the actual short-term utility of some of my accounts. Now I just want to keep them open for AAOA purposes.

 

I do like the stuff at Express, it's just that with the huge closets I already have full of stuff, I just don't need any more clothes for approximately the rest of my life.

 

The other added bonus is that the Comenity store cards are soft pulls if done correctly.

[encoder]

Right but optimizing for hard inquiries is not my top priority. These all hit your report, they show a buck-shot of tiny CL's, and affect your AAOA. I'm not saying it's an awful thing to do, but I personally see the collection of multiple small store CL's to be something that doesn't help to build credit and in some cases can even hurt. I'm not callous to the realities of rebuilding. When I started, I had no revolving lines and a single, sub-prime auto loan reporting as my only open TL. I did start small -- with a $300 CL on a National City secured card. But I knew I could add to it, and did, up to $2k.

 

 

Anyway, I don't pretend to be speaking the gospel here, it's just a little opinion, a little analysis of the situation given the imperfect data at our disposal on Fico scores and chatting with underwriters, etc.

[eonaxes]

if there are no annual fees just sock drawer them. I think the effect of having low limit cards on your reports is greatly overstated.

[cv91915]

if there are no annual fees just sock drawer them. I think the effect of having low limit cards on your reports is greatly overstated.

 

At some point they'll get closed for inactivity. Since AAOA is a big deal for me the next couple of years, I'll haul out and use the "unnecessary" cards once every six months or so to keep them open.

[dcook80]

I have a few small store cards that I opened during rebuilding but now have no use for. I don't want to close them. I gave my Express to my 23 year old son who loves the store. I'm going to give the J. Crew to my 21 year old daughter. Both of those lines are way too young for me, so they'll get use out of it and maybe get the limits raised and I'll enjoy the benefits. Next to get rid of Fingerhut.

[cv91915]

Why are you brushing off Fingerhut? You can get a $400 iPad 2 for less than $600. http://www.fingerhut.com/product/Electronics/Computers-Tablets/iPads-Tablets/Apple-iPad-2-16GB-WiFi-in-White/pc/25275/c/25299/sc/27429/NZ334.uts

Edited February 22, 2013 by cv91915

[BDK]

Why are you brushing off Fingerhut? You can get a $400 iPad 2 for less than $600. http://www.fingerhut.com/product/Electronics/Computers-Tablets/iPads-Tablets/Apple-iPad-2-16GB-WiFi-in-White/pc/25275/c/25299/sc/27429/NZ334.uts

^

[dcook80]

Why are you brushing off Fingerhut? You can get a $400 iPad 2 for less than $600. http://www.fingerhut.com/product/Electronics/Computers-Tablets/iPads-Tablets/Apple-iPad-2-16GB-WiFi-in-White/pc/25275/c/25299/sc/27429/NZ334.uts

 

ROFL! Don't forget, if you use their discount codes, you can get 10% off - but then you got $47 shipping!

[moni08]

Even if the cards get closed for inactivity that still will not affect your AAOA. The account will not be removed from your reports so the age is still on there, correct? I say this because I am AU on my moms BA card that was opened in 95. The card is closed but the age is still very much there. Now, if closed, utilization could be affected but not really if it is a small cl that you do not use.

 

I have had my VS card since 99. It started off as a small card with a 200 cl. I got it because at the time I was shopping there and they were giving $25 of 100 purchases lol. It was my very first card! I think I spent 198 that day lol. The limit is now 5k. I have an Express card that I got in 07 that started with 1k and now it is the same as my VS. I did not get these cards just because. I got them because I actually shop at these stores, frequently. Not to mention I love my points and "VIP" status lol.

 

I have discount tire (gecmb) card that I got in 01 because I wanted to take advantage of whatever deal was going on at the time. Started with 500, now is at 3500. it was up to 5500 but they CLD me sometime in 2010. So these "toy cards" can eventually grow.

 

Not to mention my Care One, which is my highest limit out of all of my cards lol.

 

I also havent requested CLIs on any of these cards recently since I was trying to remove some stuff from my files and not poke the bear since I went through a rough patch in 09-10.

 

I personally would not open a card I do not plan to use. I guess the only card I do regret is Target. I shop there a lot but that darn low limit is stuck there forever. I cant get anything with 300. I have had this card since 07 and PIF quite often and still they do not budge. I even SD them for all of 08 and 09 and no dice. Bastids.

Edited February 23, 2013 by moni08

[cv91915]

About three weeks ago I pushed a small payment to my zero-balance/unused CFNA/Firestone card, which has never reported. The statement closed today. Let's hope I woke up the tradeline and it starts reporting history!

[TrevorHere]

Best Buy MC. Why.

[cv91915]

My current list of credit card regrets (in no particular order):

 

1) CFNA Firestone - I had no intention of buying tires from BSFS, and my car's scheduled service and almost all repairs are covered through 105,000 miles (I'm not even halfway there NOW). I got this card because I saw that it was an easy approval.

 

2) Macy's Amex - I thought this was an "upgrade" so I requested it. It's not. It's a new trade line, and a card that can be used anywhere that takes Amex, but shouldn't. The rewards suck.

 

3) Express store card - Another easy approval. Shame on me. The shopping card "trick" just tricks you into getting a card you'll never use.

 

4) Barclays Rewards MC - This card is alluring since it's among the easier rewards cards to get. It's also the first one you'll stop using when you qualify for better cards.

 

5) PayPal Extras MC - The worst customer service of any card I have. They take forever to credit bonus points for promotions, and good luck checking on status. I'm still waiting for bonus points for a Christmas 2013 promotion. Call CS and they'll transfer you to the rewards department, who will tell you they only do redemptions, and who then transfers you back to CS. Repeat. Escalate to a supervisor who promises to call you back in two days but doesn't. You get the picture.

 

6) Wells Fargo Cash Back Visa - Stuck at $1,000 forever unless I give up an Experian pull. Over my dead body.

 

7) Discover it - Sure, I still use it for 5% cash back in online purchases in the fourth quarter, I just no longer expect them to pay me 5% on everything that should qualify. I stopped using Shop Discover when they failed to give me credit for purchases that clearly qualified. They're contrite when you catch them, but who has the time or energy to chase down $1.04? I used to, but no more. I just SD the card for most of the year and lowered my expectations.

[jonson]

At least you didn't get stuck with a Best Buy card. I guess the (only) good thing about Best Buy is it's easy to keep active.

[cv91915]

At least you didn't get stuck with a Best Buy card. I guess the (only) good thing about Best Buy is it's easy to keep active.

 

One of the few sh!tty cards I somehow missed...

[amandal0514]

When I went on my GECRB app spree in March, I tried to just apply for ones I would actually use.

My JCP card with the $300 limit I wouldn't mind not having tho. The rest of them, with the exception of Lowe's, are all actual credit cards so I'm not stuck with just using that store.

[cv91915]

When I went on my GECRB app spree in March, I tried to just apply for ones I would actually use.

My JCP card with the $300 limit I wouldn't mind not having tho. The rest of them, with the exception of Lowe's, are all actual credit cards so I'm not stuck with just using that store.

 

Well played.