Apply for Pacsun credit card? Anything bad about it?

Where you can talk about store credit cards, like gas station cards, department store cards, etc.
4 posts
pantages
Green Member
Green Member
 
Posts: 3
Joined: Tue Sep 20, 2011 2:31 am
Location: cali

Apply for Pacsun credit card? Anything bad about it?

Postby pantages » Tue Sep 20, 2011 2:59 am

Should I do it or not? Does anyone know what the minimum credit score is needed to get approved for a Pacsun credit card? My credit sucks big time and want to work on bringing it up to speed again.

Oh yea and not that this is #1 priority for me or anything but do you get coupons and stuff for having the credit card? Like after the promotion for the first purchase is there anything else, cash back, points and stuff. Just bought hoodies, backpack, jeans, shoes for new school year (sophomore this year) and saving money on that kind of stuff when I need it again would be a major plus because I am chronically broke lol

Mod response: For 2013 check out this student credit card that gives 5% cash back


CC Deville
Centurion Member
Centurion Member
 
Posts: 1067
Joined: Thu Aug 04, 2011 7:07 pm
Location: Phoenix

Postby CC Deville » Tue Sep 20, 2011 7:23 pm

What is your score? You say your credit sucks big time, why? Charged off accounts? How recent? WFNNB issues the PacSun card and they tend to be a little more cautious about recent charges offs etc.

The best way to improve your credit would be to get a secured Visa or MasterCard and start from there. Also, any GEMB backed card could provide a more likley chance of being approved (Old Navy, Gap, Banana Republic, JC Penney, Walmart).

The benefits of a PacSun card:

Get a $25 rewards certificate for every $150 you spend
Be the first to know about exciting specials and offers
Available for use in all stores and online at PacSun.com
Convenient minimum monthly payments
No annual fee
Additional cards for authorized users at no extra cost
Take 10% off your first purchase when you open a PacSun Credit Card

As with all store cards, the APR is high. So ONLY apply for a store card if you plan on paying in full. I do this with Macys and Kohls because of their awesome coupons. But if you pay interest, those coupons are basically a wash. Another thing to think about; I assume you are about 20 years old. What you might like at 20 (PacSun) won't always be the case; therefore, the card won't grow with you and you will eventually end up closing it etc. For instance, I opened a Abercrombie and Fitch card at 20; now that I am in my early 30s I always laugh when I see that old trade line on my credit report-closed it 6 years ago.....wouldn't dream of shopping there now at my age.

pantages
Green Member
Green Member
 
Posts: 3
Joined: Tue Sep 20, 2011 2:31 am
Location: cali

Postby pantages » Thu Sep 22, 2011 4:51 pm

Thanks for the info. The reason my credit sucks is because I had a roommate situation and got burned and the rent went onto my credit report. Since there is not much on there it really made things look bad. Dont know my current score but it's bad, you can be sure of that.

Yep am 20 good guess. I would try and pay in full but would carry if it helped my credit? I know the APR is high but man that $25 for $150 in spending, don't think ever seen that at other stores. The Pacsun credit card might be worth it for that right?

CC Deville
Centurion Member
Centurion Member
 
Posts: 1067
Joined: Thu Aug 04, 2011 7:07 pm
Location: Phoenix

Postby CC Deville » Thu Sep 22, 2011 5:52 pm

pantages wrote:Thanks for the info. The reason my credit sucks is because I had a roommate situation and got burned and the rent went onto my credit report. Since there is not much on there it really made things look bad. Dont know my current score but it's bad, you can be sure of that.

Yep am 20 good guess. I would try and pay in full but would carry if it helped my credit? I know the APR is high but man that $25 for $150 in spending, don't think ever seen that at other stores. The Pacsun credit card might be worth it for that right?


That bites about the roommate; hopefully it is burning him too. I would recommend obtaining a free credit report (annualcreditreport.com) and see exactly what is on there and disputing anything that appears wrong.

Don't get me wrong, store cards can actually be tools. As I said, I have a Macy's and a Kohl's and that is because they give great coupons. However, store cards become a bad thing if you carry a balance and you don't want your entire credit profile being store cards.

Carrying a balance really won't help your score, in fact, it could hurt. Because you don't have any other available credit, your PacSun card (if approved) will likley have a $300-$500 limit. So you want to make sure that your balance never exceeds 30% of your credit line. Part of your FICO score is what is referred to as Debt to Credit Line ratio. When you get above 30% it can really drag your score down.

I also recommend looking into a secured credit card from a bank (BofA, Citibank, Wells Fargo or US Bank) or from a local credit union. You will have to cough up the money for the security deposit, but in the long run it will be worth it. I would recommend BofA and Citibank above the rest (provided you have never burned them). Please avoid anything from First Premier, Credit One Bank (not to be confused with Capital One which is a good bank) or Applied Bank.

So, if you plan on using your PacSun regularly AND paying it in full each month (or at worst, two months) then I do recommend it. But I warn against opening too many store cards. But you have to start somewhere and this is a good start as opposed to a card that charges heavy fees (like First Premier, Credit One Bank and Applied Bank Visa/MasterCards).

I always give more advise than people are looking for LOL. So, to sum up, the PacSun is good if you use it regularly and pay it in full each month.



Return to “Store Issued Cards”

Who is online

Users browsing this forum: No registered users and 0 guests