Your credit should be fair because if it was bad you would have only gotten a 250 or $ 300 limit.
by outlawimmortal2 - 6 hours ago
sounds like beginners credit - if you've only ever had one other credit card, $500 limit is all you'll get for awhile,until you prove you can handle that and make prompt payments
by Dr. Deth - 6 hours ago
That information isn't useful in finding out about your credit. You need your credit score for people to judge your credit worthiness. In-store cards are normally small limits with lax requirements and high interest rates. If you don't have any slow to pay, or skipped payments your credit will be fair to good given how long you've had credit. I'll give you some related tips: Look online for your credit report...I believe the site is freecreditreport.com. Get one report- there are three credit agencies and they report seperately, but they usually all have the same information. You can get one report from each agency for free each year, but if you get only one report now, you can get one several times a year. If you won't check several times a year, get them all so you can catch any problems. If anything is something wrong, write a letter and tell the buerau what liars your creditors are. Think professional. You might try to use your credit card, and pay it off each month so you don't have unused credit lines (that's bad) and you don't end up in debt. And remember- use credit wisely! Pay off bad debt credit cards at the end of each month! This new card will be a bad debt card. (Items not increasing in value after purchase usually are bad debt) Good luck!
by Syra - 6 hours ago
look at the interest on the card, I bet it is 22 percent, and no it doesnt mean you have good credit,, it just means they will make alot of money off of you in interest, for good credit, do not open alot of accounts,, that one to me is un necessary, get a couple Visa and never ever close them ( the longer you show you have a card the better your credit ) and pay cards off ASAP<, Credit goes by how much you make to how much you pay out,,
by rich2481 - 6 hours ago
Please do yourself a favor and go to a legitimate website (such as myfico.com) and spend that $15 to check your report and score! Nobody here on Yahoo answers can answer that for you! You need to check it once a year to make sure there are mistakes etc. Remember: KNOWLEDGE IS POWER!
by Angeleyes78 - 6 hours ago
i wouldnt trust them to tell you, you have good credit.. just be thankful you got a card.. keep it good and you will have good credit
by lilboo_us - 6 hours ago
Stores like that give you a credit line based on the amount in your bank account at the time of application. I have bad credit and i was approved!
by Kalli - 6 hours ago
I love to answer these type of questions. If you say that you have had a Visa card since you were 16, then it was your parents card, or you lied on the application. So, for now, your credit is mostly built on your parents credit record. Now, as far as this approval is concerned, it is only a start. The best thing to do, is to dump the card. Basically shred it and use cash. If you get reward points for using the card, see if you can use the card, and then immediately pull out your checkbook and write a check to pay off the credit card balance at the store. I know that this can be done at Macy's. Whatever you do, don't get hooked.
by Steveo - 6 hours ago
One couldn't determine your credit rating based on your credit limit given by a creditor. Different companies use different criteria in determining what your credit line should be. Take a look at your credit score anything below 620 is not good but one of the credit reporting agencies will tell you whats a good score . If you've had a visa since you were 16 and have never been late or over the limit I'd say you were off to a good start.
by that hot chick - 6 hours ago
You might have decent credit now, but it's hard to think of a less useful credit card than one which is only accepted at VS. Do not apply for any more cards which are only good at one store. They are not going to give you much credit anyway, and they have little practical value. If you accumulate mutliple cards with $500 limits, that's what you're going to continue to get. That's not good. And because your credit score is partially based on how much credit you are using (the higher the number, the worse your score), if you charge even just $250 it's going to temporarily hurt your score until it's paid down to less than $150. A Wal-Mart or Target card might make sense perhaps, because they carry a wide range of merchandise... but a credit card that's only good for buying underwear?
by likepepsi - 6 hours ago
Why didn't you ask what your credit score was when they did the credit check. If you ask, they have to tell you.
by kat - 6 hours ago
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