Who else scores are like mines now?

[mendelssohn]

 

 

Just wondering, where did the idea of store cards being helpful to credit come from? There are a lot of people out there advising others to apply for these cards. If it wasn't for my intuition, I'd probably have ten by now.

I doubt you saw that here on CB.

I wouldn't be surprised if you saw that "advice" on MF.

I stated this in my previous reply.

 

Can anyone else provide an answer? It would really help newbies avoid basically paying sub sub prime vultures insane amounts of money just to report that they have a CL. And possibly leading them right back into the craphole they were in initially.

 

 

ADVICE: How to avoid toy card hell

 

The Master Don't Get These Cards For Any Reason Thread

[certifiedmommy]

Thank you

[mendelssohn]

Or maybe I should clarify, not literally what credit forum it came from, but why do people advise this? Was there a time when store cards did help your credit or are they just pulling this stuff out of their behinds? And please do not state the obvious that it it just bad advise, I'd like a real answer, please and thank you in advance.

 

Let's not worry about where it came from, it's simply wrong and never was correct. It's wrong and didn't come from here. There's no reason to repeat bad advice.

 

 

You don't need store credit. Major CCs alone can build 800+ FICOs.

I can agree with that. Sounds logical. I also believe that the bigger my credit limits are now will later attract , bigger limits than the ones I have now. I plan on increasing my secured card to $2500 which is the max for that card and get fingerhut to increase to its full potential. ..and just use the other two for my L.A. fitness and my Netflix accounts to show activity. Hopefully within the next few months my federal tax lien will be withdrawn. So with what I am working with now, soon I expect to reap some rewards of my own. You guys can continue to comment here, as I am done with this topic. Moving on. Enjoy the rest of your weekend.

 

 

So you are going to ignore the 4 no AF secured CCs that I posted?

[certifiedmommy]

Or maybe I should clarify, not literally what credit forum it came from, but why do people advise this? Was there a time when store cards did help your credit or are they just pulling this stuff out of their behinds? And please do not state the obvious that it it just bad advise, I'd like a real answer, please and thank you in advance.

 

Let's not worry about where it came from, it's simply wrong and never was correct. It's wrong and didn't come from here. There's no reason to repeat bad advice.

 

There is also no need to be rude. Some of us aren't as familiar with this forum as others. I guess I didn't refresh my screen fast enough for you but once I did and saw the link you posted, I thanked you for it. My goodness, some of you get really snarky far to quickly and it's off-putiing.

[mendelssohn]

 

 

Or maybe I should clarify, not literally what credit forum it came from, but why do people advise this? Was there a time when store cards did help your credit or are they just pulling this stuff out of their behinds? And please do not state the obvious that it it just bad advise, I'd like a real answer, please and thank you in advance.

 

Let's not worry about where it came from, it's simply wrong and never was correct. It's wrong and didn't come from here. There's no reason to repeat bad advice.

 

There is also no need to be rude. Some of us aren't as familiar with this forum as others. I guess I didn't refresh my screen fast enough for you but once I did and saw the link you posted, I thanked you for it. My goodness, some of you get really snarky far to quickly and it's off-putiing.

 

My advice wasn't rude or snarky. I am simply stating that you would never get that advice here, it was never accurate and it should not be repeated or someone will pick up on it. This has been posted several times here already, and you were pushing.

[Konrad2012]

 

 

 

Oh yeah, I had a secured card for 3 months@ $500 before fingerhut ,totalvisa and opensky and gained nothing. Hopefully someone like me will find this post a year from.now and find this useful.

You would have gotten the same score bumps from 3 or 4 secured cards as you did from adding the trash cards. And as a bonus, you would have saved yourself a bunch of money over the next couple years.

I have a 715 EX with an unpaid $7,500 tax lien (at least how they are reporting it)

Every secured card has an annual fee,no? I carry no balances on none of them

Well. .. whats stopping you from paying that unpaid tax lien off with all the money you have been saving lately? I mean, without it on your report, you could be in 800+ range,no? So, you mean to tell me all that you have read so far ,you havent found tge solution to recitify that situation yet? Lol! Genius

It's been paid for 5 years. I won't send EX the proof, because I want it deleted outright. It's also never kept me from getting an approval.

 

FICO isn't fickle, you just need to understand its nuances. If you did, you'd understand why you didn't see a score increase from your BK removal when you still have an unpaid tax lien showing.

[fiveyearplan66]

 

Or maybe I should clarify, not literally what credit forum it came from, but why do people advise this? Was there a time when store cards did help your credit or are they just pulling this stuff out of their behinds? And please do not state the obvious that it it just bad advise, I'd like a real answer, please and thank you in advance.

Let's not worry about where it came from, it's simply wrong and never was correct. It's wrong and didn't come from here. There's no reason to repeat bad advice.

 

You don't need store credit. Major CCs alone can build 800+ FICOs.

I can agree with that. Sounds logical. I also believe that the bigger my credit limits are now will later attract , bigger limits than the ones I have now. I plan on increasing my secured card to $2500 which is the max for that card and get fingerhut to increase to its full potential. ..and just use the other two for my L.A. fitness and my Netflix accounts to show activity. Hopefully within the next few months my federal tax lien will be withdrawn. So with what I am working with now, soon I expect to reap some rewards of my own. You guys can continue to comment here, as I am done with this topic. Moving on. Enjoy the rest of your weekend.

So you are going to ignore the 4 no AF secured CCs that I posted?

So, I have to pay to join an organization thats affiliated with them first to be eligible?oh ok.... I see what you did there!

[certifiedmommy]

And please excuse my quoting ability, or lack thereof. I am new and still learning how to manuver these threads, but that doesn't mean I cann't ask questions or comment. If you are going to be irritated by newcomers asking certain questions, then you could opt to just ignore it or answer the first time instead of being rude about it. I came here for info and to learn, I cannot do that without asking questions here and there.

[mendelssohn]

 

 

Or maybe I should clarify, not literally what credit forum it came from, but why do people advise this? Was there a time when store cards did help your credit or are they just pulling this stuff out of their behinds? And please do not state the obvious that it it just bad advise, I'd like a real answer, please and thank you in advance.

Let's not worry about where it came from, it's simply wrong and never was correct. It's wrong and didn't come from here. There's no reason to repeat bad advice.

 

You don't need store credit. Major CCs alone can build 800+ FICOs.

I can agree with that. Sounds logical. I also believe that the bigger my credit limits are now will later attract , bigger limits than the ones I have now. I plan on increasing my secured card to $2500 which is the max for that card and get fingerhut to increase to its full potential. ..and just use the other two for my L.A. fitness and my Netflix accounts to show activity. Hopefully within the next few months my federal tax lien will be withdrawn. So with what I am working with now, soon I expect to reap some rewards of my own. You guys can continue to comment here, as I am done with this topic. Moving on. Enjoy the rest of your weekend.

So you are going to ignore the 4 no AF secured CCs that I posted?

So, I have to pay to join an organization thats affiliated with them first to be eligible?oh ok.... I see what you did there!

 

 

What I did there was answer his question. He asked for examples of 4 no AF secured CCs, which I provided. You don't pay to join NFCU, and the others are all a 1 time fee through an organization. You don't pay it every year.

[certifiedmommy]

Or maybe I should clarify, not literally what credit forum it came from, but why do people advise this? Was there a time when store cards did help your credit or are they just pulling this stuff out of their behinds? And please do not state the obvious that it it just bad advise, I'd like a real answer, please and thank you in advance.

 

Let's not worry about where it came from, it's simply wrong and never was correct. It's wrong and didn't come from here. There's no reason to repeat bad advice.

 

There is also no need to be rude. Some of us aren't as familiar with this forum as others. I guess I didn't refresh my screen fast enough for you but once I did and saw the link you posted, I thanked you for it. My goodness, some of you get really snarky far to quickly and it's off-putiing.

My advice wasn't rude or snarky. I am simply stating that you would never get that advice here, it was never accurate and it should not be repeated or someone will pick up on it. This has been posted several times here already, and you were pushing.

 

How am I pushing when it is a part of this very post? I was simply asking to elaborate, because sometimes it's not enough to simply tell someone not to do something but to lead them to fully understand why they shouldn't. I got it loud and clear being that I don't have any "toy" cards but I came close. And just like me, someone else from MF could find CB and not realize this. I was just thinking of others, by no means am I trying to repeat bad advise. I would think that is clear from all I have said thus far. It was just a question and now I have my answer. Thank you and good day sir/ma'am.

[mendelssohn]

And please excuse my quoting ability, or lack thereof. I am new and still learning how to manuver these threads, but that doesn't mean I cann't ask questions or comment. If you are going to be irritated by newcomers asking certain questions, then you could opt to just ignore it or answer the first time instead of being rude about it. I came here for info and to learn, I cannot do that without asking questions here and there.

 

Nobody here is irritated except you and the OP. I know I'm not irritated.

 

Asking questions is fine, and nobody was being rude to you. You're being rude to me when I'm just answering your questions.

 

I was trying to get you to move on from that topic so that incorrect information is not spread here.

[ubercat]

Hug it out.

[certifiedmommy]

Hug it out.

 

And please excuse my quoting ability, or lack thereof. I am new and still learning how to manuver these threads, but that doesn't mean I cann't ask questions or comment. If you are going to be irritated by newcomers asking certain questions, then you could opt to just ignore it or answer the first time instead of being rude about it. I came here for info and to learn, I cannot do that without asking questions here and there.

 

Nobody here is irritated except you and the OP. I know I'm not irritated.

 

Asking questions is fine, and nobody was being rude to you. You're being rude to me when I'm just answering your questions.

 

 

 

I was trying to get you to move on from that topic so that incorrect information is not spread here.

You should really chill, it will not spread. How could a question and a CLEAR answer spread in a negative way? Also, clearly OP didn't understand why. And in case you haven't noticed, I have read a few posts HERE already with people doing this. No one said it came from here, I actually stated very clearly where I got it from, so there is no chance someone could think otherwise. But then again, you read my post and didn't see that, so I see your point. I will never speak of it again lol. *hugs* I really meant no harm. Edited August 30, 2015 by certifiedmommy

[certifiedmommy]

Thanks for lightening the mood, it was getting heavy in here. *Hugs it out*

Hug it out.

[ubercat]

Hugs heal.

Edited August 30, 2015 by ubercat

[fallencyi]

So, reasons to avoid the horrible cards:

1. Crazy Fees.

2. High interest.

3. Low limits.

 

When I got to creditboards the names of the horrible cards were different but the result on my wallet & credit profile were the same:

HSBC $400 credit limit at 29% interest, and an annual fee of $29.

Best Buy Reward Zone Card. $600 limit, 21% interest.

I also took out a car loan at a "Buy Here Pay here" kind of place, at 19% interest for 6 years.

Then to top it off, I bought a stereo for that car at 21% interest.

 

At the time, as a credit repair newbie, I thought "Hey, an approval is a good thing right?" I was also actively looking into "Credit Repair Agencies" to get rid of all the CA's (JDB's) that were hounding me. Luckily that search lead me to credit boards

 

I found out that I could do for myself what the credit repair outfits claimed they could do, and do it better.

I also found out that once I did the math on what those interest rates & Fees were costing me I had started down the wrong path.

I learned that my behavior had lead to my credit profile, and what needed to change was my behavior.

-----------------

If you read, & learn, & put your ego aside you can avoid some of those mistakes.

[ubercat]

So, reasons to avoid the horrible cards:

1. Crazy Fees.

2. High interest.

3. Low limits.

 

I would add that after you've repaired your credit, these crappy cards are an indicator that you've had problems in the past.

 

We have a analyst who posts once in a while, and it seemed pretty clear that when a UW is looking at a clean report with a Fingerslut card (and a couple of store cards, etc...) they know there was a troubled history that was repaired.

 

I call `em pecker-tracks, `cause that's what they are.

[goturtlego]

Or maybe I should clarify, not literally what credit forum it came from, but why do people advise this? Was there a time when store cards did help your credit or are they just pulling this stuff out of their behinds? And please do not state the obvious that it it just bad advise, I'd like a real answer, please and thank you in advance.

I've been here several years and no way do people here at CB advise this. Storecards do not give you high CL's which in turn is a waste of time. Racking up a bunch of Trade lines with store cards is a complete waste.

 

It's easy to get eager and fall into the trap of getting any crappy card when you have low scores especially First Premier and Credit One. Those annual fees are NOT worth it.

[goturtlego]

There are tons of people here who have been there and you can learn so much just by clicking threads and reading. I can't tell you how many hours I've spent reading and reading some more. I also print out important repair topics so I can have a reference when I need it.

[certifiedmommy]

 

Or maybe I should clarify, not literally what credit forum it came from, but why do people advise this? Was there a time when store cards did help your credit or are they just pulling this stuff out of their behinds? And please do not state the obvious that it it just bad advise, I'd like a real answer, please and thank you in advance.

I've been here several years and no way do people here at CB advise this. Storecards do not give you high CL's which in turn is a waste of time. Racking up a bunch of Trade lines with store cards is a complete waste.

It's easy to get eager and fall into the trap of getting any crappy card when you have low scores especially First Premier and Credit One. Those annual fees are NOT worth it.

I never said anyone here advised that. Actually, I clearly stated in my previous post where I have read said advise. I was asking for specific reasons those types of cards should be avoided. It's good to advise someone not to do something, but it is even better to elaborate why they shouldn't. The OP didn't seem to be understanding so I figured I would ask why exactly. I myself do not have nor have I ever had those cards because I've read repeatedly not to, I just never knew 'why' exactly.

[certifiedmommy]

I just want to make it very clear, that I in no way stated that people here were advising anyone to get store cards(although I have seen people HERE who have these cards listed as the TLs they have, still doesn't mean they got their advise from here. Not everyone has been aware of CB, you know). I simply asked a question because the OP didn't seem to be grasping the logic behind NOT having store cards. If you say, "Don't get First Premier and Fingerhut." and leave it at that, there is a likely chance that someone will get OpenSky or First Progress or whatever other crappy card is out there. BUT if you say, "Don't get xyz, because they have high AFs, other random fees, and look bad to future creditors", that person now has enough information to make better decisions during their credit repair process. Fact is, not everyone can control their impulses as well as others, but if they are well-informed, they can make better decisions. Either way, I got the answer to my question, so you'd just be beating a dead horse at this point.

Edited August 30, 2015 by certifiedmommy

[fallencyi]

Please take a deep breath and re-read this page alone. There are at least 3-4 very clear answers (Some with links) on why exactly people recommend or give advice that you should avoid certain cards.

If you are interested, there are threads going back to 2013 that explain it in detail.

 

I think you confused directness with rudeness early on, and then got defensive when people spelled it out again.

 

Take the emotion out, and re-read please.

[certifiedmommy]

Please take a deep breath and re-read this page alone. There are at least 3-4 very clear answers (Some with links) on why exactly people recommend or give advice that you should avoid certain cards.

If you are interested, there are threads going back to 2013 that explain it in detail.

 

I think you confused directness with rudeness early on, and then got defensive when people spelled it out again.

 

Take the emotion out, and re-read please.

 

That link is here because I am the one who asked. I have been reading since the OP started this thread. There are no emotions involved but I just don't understand why I got so much heat for asking a simple question. You can't tell me what is rude and what isn't, that's based on opinion, and IMO it was rude. Look, I was just trying to help OP, that is all.

[fallencyi]

You didn't get heat, you got answers, and yet you continued to re-post the question with different wording. If you felt it was rude, so be it, you are entitled to your opinion, I was simply suggesting that maybe you confused directness with rudeness and may want to re-read to ensure you got the answers you were looking for.

 

The reality is the OP's original premise was flawed, and the reasons "Why" were clearly explained.

 

Then you asked why people don't advise people to get bad cards and that was also answered.

[certifiedmommy]

You didn't get heat, you got answers, and yet you continued to re-post the question with different wording. If you felt it was rude, so be it, you are entitled to your opinion, I was simply suggesting that maybe you confused directness with rudeness and may want to re-read to ensure you got the answers you were looking for.

 

The reality is the OP's original premise was flawed, and the reasons "Why" were clearly explained.

 

Then you asked why people don't advise people to get bad cards and that was also answered.

I didn't get an answer, I got a comment, then I clarified. Once again, I only asked because I didn't think OP was getting it and I didn't think I have enough experience to chime in on the subject. I thought if he got a more detailed answer, then maybe he/she would see the logic and it would click. But that didn't happen. Had the other member posted the link after my initial question, nothing more would have come of this. I understand that there are many threads on this topic but as a newbie, I didn't see what was wrong with asking that question in this thread. I spend many days/nights reading but people usually search for topics directly related to their personal situation, so I just haven't gotten around to that one yet and probably never would have read it since I just know not to even go there. I personally don't need to why, the reviews were enough to send me running in the other direction. It only came up because OP was giving so much resistance to others trying to help, that is the only reason I wanted clarification. I'm am not here to argue, I am here to learn. So please let's just drop it, OP isn't even paying attention anymore. Edited August 30, 2015 by certifiedmommy