mike111 Posted April 11, 2005 Report Share Posted April 11, 2005 Just applied for Homedepot cc online, got reason code 25 and asked to call, called 800 number, they verified my info and said i'm approved for 1500, no bad huhthe online system pulled my experian report with fico score 645. Link to comment Share on other sites More sharing options...
wunderwoman Posted April 11, 2005 Report Share Posted April 11, 2005 Good for you! Congrats. I know that feeling! Link to comment Share on other sites More sharing options...
mike111 Posted April 12, 2005 Author Report Share Posted April 12, 2005 thanks Wunderwoman!I noticed your credit score went up like 100 in only 4-5 months. Care to share some success stories or insight? My TU is stuck on 659 for a month even after I opened a secured CC for $1000. and My EQ score only went up like 13 points in 2 months.Is there any single method raise score more than the others among say Get new cards, piggyback, or dispute collections? Link to comment Share on other sites More sharing options...
creditcardcory Posted April 15, 2005 Report Share Posted April 15, 2005 Question: Is your Home Depot credt card through a bank or through Home Depot?If it's through a bank, you're okay. If you are through Home Depot, you are doing nothing for your credit but hurting it. Scoring and banks look at store credit cards that you do not have enough money to buy a $1500 tool, suit or whatever and that you needed to finance it. Store cards are loans. Bank cards are revolving credit. Link to comment Share on other sites More sharing options...
mike111 Posted April 15, 2005 Author Report Share Posted April 15, 2005 Question: Is your Home Depot credt card through a bank or through Home Depot?If it's through a bank, you're okay. If you are through Home Depot, you are doing nothing for your credit but hurting it. Scoring and banks look at store credit cards that you do not have enough money to buy a $1500 tool, suit or whatever and that you needed to finance it. Store cards are loans. Bank cards are revolving credit.I aplied online and credit report was pulled by a bank. I assume it's a revolving account like other store cards. I have a jcpenny store card shows up as a revolving account on the report. Why would it hurt me even if it's not a revolving account, I have both major credit cards and store cards, doesn't having a mix of card help the score rather than hurting? Link to comment Share on other sites More sharing options...
creditcardcory Posted April 15, 2005 Report Share Posted April 15, 2005 They do all get pulled through a bank. What you need is major cards Visa/Master, AMEX. Banks see you as more of a risk when you take out store credit cards. It would be much better to make your purchases with the Visa/Mastercard or AMEX and get rid of the store cards altogether. Link to comment Share on other sites More sharing options...
mike111 Posted April 15, 2005 Author Report Share Posted April 15, 2005 They do all get pulled through a bank. What you need is major cards Visa/Master, AMEX. Banks see you as more of a risk when you take out store credit cards. It would be much better to make your purchases with the Visa/Mastercard or AMEX and get rid of the store cards altogether.so store cards are no good? I was hoping by paying them I will get more positive tradelines in addition to the major CC. Link to comment Share on other sites More sharing options...
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