Would Having A Kohl's CC Help Me?

Where you can talk about store credit cards, like gas station cards, department store cards, etc.
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Dylan1982
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Would Having A Kohl's CC Help Me?

Postby Dylan1982 » Fri Mar 09, 2012 7:49 pm

Would opening up a Kohl's CC help me with my credit score or cc utilization?

From Credit Karma:

Score - 675
Utilization - 59%
On Time Payments - 100%
Average Age of Open Credit Lines - 7 yrs 9 mos.. The Oldest being 10 yrs 2 mos
Chase Freedom - $12,500 (2/2013)
GM Card - $7,700 (7/2002)
CitiBank (Thank You Preferred) - $6,400 (6/2012)
CitiBank (Diamond Preferred) - $4,600 (6/2012)
Rogers & Hollands - $3,300 (3/2006)
Target REDcard - $3,000 (11/2014)
BestBuy - $1,600 (9/2003)
Discount Tires - $1,000 (2/2004)
Kohl's - $300 (4/2012)


ooxs
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Postby ooxs » Fri Mar 09, 2012 9:03 pm

Yes if you can get one, See reply to your previous post

Dylan1982
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Postby Dylan1982 » Fri Mar 09, 2012 9:38 pm

ooxs wrote:Yes if you can get one, See reply to your previous post

I hope I can get one.. My credit isn't that bad
Chase Freedom - $12,500 (2/2013)
GM Card - $7,700 (7/2002)
CitiBank (Thank You Preferred) - $6,400 (6/2012)
CitiBank (Diamond Preferred) - $4,600 (6/2012)
Rogers & Hollands - $3,300 (3/2006)
Target REDcard - $3,000 (11/2014)
BestBuy - $1,600 (9/2003)
Discount Tires - $1,000 (2/2004)
Kohl's - $300 (4/2012)

ooxs
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Postby ooxs » Sat Mar 10, 2012 6:01 am

I hope so, best of luck and keep us updated.

Dylan1982
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Location: Chicago

Postby Dylan1982 » Sat Mar 10, 2012 6:38 pm

ooxs wrote:I hope so, best of luck and keep us updated.

Will do. I'm prolly going to try for one on Monday. I jsut need to get my utilizatiion down some.
Chase Freedom - $12,500 (2/2013)
GM Card - $7,700 (7/2002)
CitiBank (Thank You Preferred) - $6,400 (6/2012)
CitiBank (Diamond Preferred) - $4,600 (6/2012)
Rogers & Hollands - $3,300 (3/2006)
Target REDcard - $3,000 (11/2014)
BestBuy - $1,600 (9/2003)
Discount Tires - $1,000 (2/2004)
Kohl's - $300 (4/2012)

Dylan1982
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Location: Chicago

Postby Dylan1982 » Sat Mar 24, 2012 7:55 am

I went yesterday and applied for the Kohl's card finally. Got approved. For a low amount thought. Only $300 limit. My buddy with a 765 TU credit score got the same limit as me, so I don't feel so bad.

Here is my question.... How do you avoid paying interest on new purchases? Do you pay the balance off before the closing of the statement?
Chase Freedom - $12,500 (2/2013)
GM Card - $7,700 (7/2002)
CitiBank (Thank You Preferred) - $6,400 (6/2012)
CitiBank (Diamond Preferred) - $4,600 (6/2012)
Rogers & Hollands - $3,300 (3/2006)
Target REDcard - $3,000 (11/2014)
BestBuy - $1,600 (9/2003)
Discount Tires - $1,000 (2/2004)
Kohl's - $300 (4/2012)

JELOPEZ88
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Location: Seattle WA

Postby JELOPEZ88 » Sat Mar 24, 2012 5:39 pm

Hi Dylan1982:

Congratulations on getting your new Kohl's card. In order to avoid paying interest on purchases, you would pay off any balance due BEFORE the closing date of the next billing cycle. Most credit cards give a 25 day "grace period" to pay without any interest. Something to keep in mind if you don't pay in full each month, they will charge on any amount owing an outrageous 22% APR. (I researched the terms on the web) Do not pay late either or they will bump the APR to the penalty rate of 24%. Generally with store credit cards it is to your advantage to pay in full.

Dylan1982
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Location: Chicago

Postby Dylan1982 » Wed Apr 04, 2012 2:50 am

So far I haven't received my first bill. As soon as I get it, I will pay it off. I only put $12 on it lol.

So again by paying my first bill off, say the same day that I receive the bill in the mail I will not pay any interest correct?
Chase Freedom - $12,500 (2/2013)
GM Card - $7,700 (7/2002)
CitiBank (Thank You Preferred) - $6,400 (6/2012)
CitiBank (Diamond Preferred) - $4,600 (6/2012)
Rogers & Hollands - $3,300 (3/2006)
Target REDcard - $3,000 (11/2014)
BestBuy - $1,600 (9/2003)
Discount Tires - $1,000 (2/2004)
Kohl's - $300 (4/2012)

PopiLopi
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Location: Miami, FL

Postby PopiLopi » Thu May 03, 2012 9:08 pm

I just got that card today, I was making a purchase of around $350 and they offered a 25% discount for opening the card, the lady said it was a special promo because they usually offer 15-20% off.. I'll pay the balance off before the due date and I'll probably use it only if they offer me discounts for using it, just like Macy's does
Amex: Business Platinum (09/12) BCP $10,500 (03/13)
Visa: Capital One Journey $750 (04/11) Chase Freedom $1,800 (04/12)
MasterCard Citi AAdvantage Platinum Select $8,500 (05/13)
Discover: Discover It $2500 (07/11)
Store Cards: Amazon $3900 (12/11) Macy's $500 (04/11) Kohl's $500 (05/12) Victoria's Secret $750 (11/12)

Money card
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Location: New York state

Postby Money card » Sat May 05, 2012 7:07 pm

Dylan1982 wrote:So far I haven't received my first bill. As soon as I get it, I will pay it off. I only put $12 on it lol.

So again by paying my first bill off, say the same day that I receive the bill in the mail I will not pay any interest correct?


Hey Dylan so let's say you receive your bill on the 13th of the Month just an example) and it says please pay by the 20th. What I would do is pay your bill the same day as you pay other bills. I pay my bills on Saturday but everybody is different.

An account mgr from American Express and Optimum cable service told me that you get certain amount of billing days to pay your bill. For instance they may send your bill on the 5th of the month and you may receive it a week later. They don't know how long it takes, plus you need time to make sure you have the money in your checking account. I think you get 20 days or more in your billing cycle.

What I would do is if you receive your bill on the 13th, I would pay your bill the same day as you pay other bills.



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