HBC master card

[Raww]

I just applied for the HBC credit card at Zellers. Will it harm my credit rating? My credit score is excellent right now. Any tips of how to maintain it and things to avoid?

[YYC27]

The credit inquiry they made when qualifying you will ding your credit score a little. The average age of your accounts will also be pulled down, which affects your score.

From a score perspective, things to avoid would be missed payments and over-utilization of your available credit. From a general financial perspective, make sure you pay that thing off in full each month. 29% interest is not cool.

[RiCHC3]

Simulation credit score post from FW and not exact, too many factors, but a good idea.

Credit Card Limit Usage (%):
0-15%: Baseline
16-29%: -3
30-50%: -5
51-64%: -7
65+%: -15

Bankruptcy:
No: Baseline
Yes: -170

Credit Inquiries:
0: Baseline
1-2: -5
3-4: no change
5-6: -5
7+: no change

Delinquent/Past Due Balances:
No: Baseline
Yes: -50

Open Accounts (ie. loans, lines of credit):
0: Baseline
1-2: no change
3-4: -3
5+: -5

Mortgage:
Yes: Baseline
No: -5


edit: ohh and here's another one..

Own own home: Worth 25 points
Years In home: 10+ years = 23 points
Occupation: Professional = 50 points
Years on Job: 12+ years = 39 points
Department store card: = 10 points
Major credit card: = 16 points
Both of them: = 27 points
Checking and Savings account: = 20 points

Debt Ratios:
<25% = 22 points
15-25% = 15 points
26-35% = 12 points
36-49% = 5 points
50%+ = 0 points

Number of recent inquiries:
0 = 3 points
1 = 11 points
2 = 3 points
3 = -7 points
4 = -11 points
5-9 = -20 points

Years in bureau files:
<5 = 0 points
1-2 = 5 points
3-4 = 15 points
5-7 = 30 points
8+ = 40 points

Number of Revolving trades outstanding:
0 = 5 points
1-2 = 12 points
3-5 = 8 points
6+ = -4 points

Percent credit line utilization:
0-15% = 15 points
16-30% = 5 points
31-40% = -3 points
41-50% = -10 points
>50% = -18 points

Worse & reference:
Any derog = -29 points
Any slow pay = -14 points
1 satisfactory account = 17 points
2 satisfactory accounts = 24 points
3 satisfactory accounts = 29 points

[Salinger]

Own own home: Worth 25 points
Years In home: 10+ years = 23 points
Occupation: Professional = 50 points
Years on Job: 12+ years = 39 points
Checking and Savings account: = 20 points

Is this some sort of proprietary in-house scoring? Credit reports/scores know none of this information.

[Raww]

Own own home: Worth 25 points
Years In home: 10+ years = 23 points
Occupation: Professional = 50 points
Years on Job: 12+ years = 39 points
Checking and Savings account: = 20 points

Is this some sort of proprietary in-house scoring? Credit reports/scores know none of this information.

+1. I doubt it as well