How to get american credit card

how to get american credit card

If you're talking about the store card, I was approved for $620 and pretty bummed, then the girl behind the register made me feel better because she seemed very impressed and said they rarely see limits that high for the non-Visa.

I asked specifically not to apply for the Visa, because I don't need another visa, and I had no store cards at the time. Every time I've tried to app for a store card, I wind up getting the Visa or MC equivalent of the card, and it gets a little frustrating because I always heard on here that store cards improve your "credit mix." Nah. Credit Mix refers to your mix of revolving and installment loans. Anyway, hope that helps answer your question.

Not to hijack the OP - but JIC you're still wondering about "Store" or "Merchant" cards or how important it is to have one -

Although much of FICO scoring is under wraps, the FICO codes are published.

They want you to have an open revolving account with a bank or national credit card co. (That’s code #3 – you will get dinged if you don’t).

They want you to have activity on that bank or national account (Code #15 – you will get dinged if you don’t)

They want you to have a revolving account (That’s code 16 – you will get dinged

if you don’t).

By having a bank card, you hit two birds with one stone (#3 and #16). By using it, you meet the requirements of #15. After one bank card is in place, you don’t have to worry about whether a card is a store or bank card. FICO does not ding you for not having a store (merchant) card.

That being said, there are some advantages to store cards. For rebuilders, they tend to be easier to be approved for, may have higher CL’s than rebuilder bank cards, and tend to be long-lived so they add to your AAofA over time. Some store cards offer customer perks. So bank cards and store cards both have a niche. Bank cards definitely help your FICO score in and of themselves. Store cards can help with higher rebuilding CL’s, long-term AAofA and cardholder perks. You can (and some may argue should) get to the 800’s without a single store card in sight. DH was at 802 with one ($500CL) bank card only.

I’m a rebuilder – so I’m quite fond of my store cards. But I did not receive a FICO score increase--in fact I lost five points with my first store card. It’s a Macy’s and it serves my needs well – but not because of FICO scoring practices.

Now back to the OP's question on American Eagle opening CL's:


Category: Credit

Similar articles: