"Please Don't Do It"
GapCard Review
Written by: brian on 2007-09-25
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brian's review: 
Please everyone Please! Don't get these store cards, it's really not worth it. All you are doing is eating into the credit that is available to you and at the same time limiting the use of your card to these stores. For example, if your income qualifies you for 5k in credit and you have 6 store cards that total 4500, guess what? That nice Citibank MC or Bank of America Visa is gonna give you what? Somebody hit the buzzer is you have the answer! Yeah 500 bucks, you wasted that good limit on Macy's, the gap, dillards, bloomingdales. Now it's Christmas and your 6'5 husband, like me can't fit a pair of socks at any of the stores you have accounts at. Wow, cool a nice new wallet, thanks wife. Well, that is a real example, my wife is the queen of department store cards. So So sad, if she had listen to the five minute sermon I gave her, I mean chat. She's have some usuable credit to work with and I'd have a nice ipod that I wanted. The ONLY store cards I'd ever recommend getting is Target or Walmart, we all shop there for something or the other, toilet paper at least. The other cards handcuff your credit. If you have less than stellar credit getting one will actually help you but pick and choose and be smart about it. No offense to any of you that have binged at the wrong plastic but just read the paragraph above and think about it. Makes sense huh? Don't worry about me, I buy my own gift for myself before Christmas so mine are always good, just don't tell my wife that tight shirt from macy's is washing my new truck.
Please everyone Please! Don't get these store cards, it's really not worth it. All you are doing is eating into the credit that is available to you and at the same time limiting the use of your card to these stores. For example, if your income qualifies you for 5k in credit and you have 6 store cards that total 4500, guess what? That nice Citibank MC or Bank of America Visa is gonna give you what? Somebody hit the buzzer is you have the answer! Yeah 500 bucks, you wasted that good limit on Macy's, the gap, dillards, bloomingdales. Now it's Christmas and your 6'5 husband, like me can't fit a pair of socks at any of the stores you have accounts at. Wow, cool a nice new wallet, thanks wife. Well, that is a real example, my wife is the queen of department store cards. So So sad, if she had listen to the five minute sermon I gave her, I mean chat. She's have some usuable credit to work with and I'd have a nice ipod that I wanted. The ONLY store cards I'd ever recommend getting is Target or Walmart, we all shop there for something or the other, toilet paper at least. The other cards handcuff your credit. If you have less than stellar credit getting one will actually help you but pick and choose and be smart about it. No offense to any of you that have binged at the wrong plastic but just read the paragraph above and think about it. Makes sense huh? Don't worry about me, I buy my own gift for myself before Christmas so mine are always good, just don't tell my wife that tight shirt from macy's is washing my new truck. 5 Comments
Comment 1 by dm
Re: Brian 
on 2007-09-25
With all due respect to your analysis (that makes some valid points regarding available credit), I think that you really shouldn't judge others based on where they shop. I for one, have never been inside a Wal Mart, so that wouldn't make sense for me to apply for the cards... However, I don't disparage you or others that may choose a Wal Mart card. I have had my Macy's and Bloomingdale's cards since 1994 and 1998, respectively. I use them because I buy the majority of my clothes there; I like the personal shopping services; and I receive excellent discounts and notice of sales. Let's try to keep the spirit of this board positive please!
on 2007-09-25 With all due respect to your analysis (that makes some valid points regarding available credit), I think that you really shouldn't judge others based on where they shop. I for one, have never been inside a Wal Mart, so that wouldn't make sense for me to apply for the cards... However, I don't disparage you or others that may choose a Wal Mart card. I have had my Macy's and Bloomingdale's cards since 1994 and 1998, respectively. I use them because I buy the majority of my clothes there; I like the personal shopping services; and I receive excellent discounts and notice of sales. Let's try to keep the spirit of this board positive please!Comment 2 by meya
Re: Brian on 2007-09-25
Since you hid out from us for so long, I AM SNITCHING! I know this my buddie Bryan because this is the same advice that you gave me which is the honest-to-God-truth. I have more department store cards than credit cards. I am going to use them and then loose them. I would rather have at least two or three dept store cards that I pay off before the statement comes out to beat the finance charges... Welcome back Brian
on 2007-09-25 Since you hid out from us for so long, I AM SNITCHING! I know this my buddie Bryan because this is the same advice that you gave me which is the honest-to-God-truth. I have more department store cards than credit cards. I am going to use them and then loose them. I would rather have at least two or three dept store cards that I pay off before the statement comes out to beat the finance charges... Welcome back Brian Comment 3 by brian
Re; Meya on 2007-09-25
I have been gone, a little vacation and back to a pile of work has kept me away. I see that you have spread your positive influence throughtout the "globe". you are officially the "meya-estro" of the this site. If I were a newbie I sign up because of you also. Good advice on the inquires, I've already had to started the dispute process. Seeing the same company check my credit 7 or 8 times within days, you would think the bureus would figure it out but we are all just names and numbers anyway. I'm not mad at them but it's a hassle.
on 2007-09-25 I have been gone, a little vacation and back to a pile of work has kept me away. I see that you have spread your positive influence throughtout the "globe". you are officially the "meya-estro" of the this site. If I were a newbie I sign up because of you also. Good advice on the inquires, I've already had to started the dispute process. Seeing the same company check my credit 7 or 8 times within days, you would think the bureus would figure it out but we are all just names and numbers anyway. I'm not mad at them but it's a hassle. Comment 4 by meya
Re:Brian on 2007-09-25
"meya-estro", hummmm, I like that... Lol. Thanks brian, I knew you would be up on your p's and q's with them anyway. If I could change the way the CB's work, I would only allow car dealers to pull soft inquiries. If that would not work, then the dealer that had you to fill out the application should pass or fax along the acutal credit file that HE PULLED if he decides to send it to a million other banks to try and finance you.
on 2007-09-25 "meya-estro", hummmm, I like that... Lol. Thanks brian, I knew you would be up on your p's and q's with them anyway. If I could change the way the CB's work, I would only allow car dealers to pull soft inquiries. If that would not work, then the dealer that had you to fill out the application should pass or fax along the acutal credit file that HE PULLED if he decides to send it to a million other banks to try and finance you.Comment 5 by lyyssa01
This Is A Good Review... on 2008-03-26
And I believe the reviewer wrote it with the best of intentions. That being said, for people who don't care to carry too many Visa/MC, or people who are building credit store cards are handy to have. My husband has all of 2 credit cards, both MC and the rest are store cards (Home Depot, JCP, and Best Buy). He's content to never get another cc.
I, on the other hand, would much rather have a card I can use everywhere instead of just one store. I have one store card, and that is JCP. Everything else has a logo on it, and I'm shooting for that Amex someday.
I think it all boils down to what you want, and what you are trying to do with your credit. In the end, properly managing a store card will have the same benefits of proper management of a bank card: a higher Fico score and a report.
And really... CLI and low APR aside... Positive feedback on your CR is all that should matter in the long run. :)
on 2008-03-26 And I believe the reviewer wrote it with the best of intentions. That being said, for people who don't care to carry too many Visa/MC, or people who are building credit store cards are handy to have. My husband has all of 2 credit cards, both MC and the rest are store cards (Home Depot, JCP, and Best Buy). He's content to never get another cc. I, on the other hand, would much rather have a card I can use everywhere instead of just one store. I have one store card, and that is JCP. Everything else has a logo on it, and I'm shooting for that Amex someday.
I think it all boils down to what you want, and what you are trying to do with your credit. In the end, properly managing a store card will have the same benefits of proper management of a bank card: a higher Fico score and a report.
And really... CLI and low APR aside... Positive feedback on your CR is all that should matter in the long run. :)
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Disclaimer: This content is not provided by Synchrony Bank. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by Synchrony Bank. Review content is powered by Finance Globe.
