QVC's card

Gourmet · ‎12-25-2014

Why is it that whenever I use my QVC card my credit score goes down. I am not the only one. Sitting at the Drs another person was calling QVC and asked the same quwstion. The only sulution is to not use the QVC card

Snowhite714 · ‎06-30-2014

@gourmet wrote:
Why is it that whenever I use my QVC card my credit score goes down. I am not the only one. Sitting at the Drs another person was calling QVC and asked the same quwstion. The only sulution is to not use the QVC card

Hmmm, that's very interesting.

on the bay · ‎03-09-2010

thats kind of creepy.

"If you walk the footsteps of a stranger, you'll learn things you never knew. Can you sing with all the voices of the mountains? can you paint with all the colors of the wind?"

millieshops · ‎03-09-2010

If their card is like other credit cards, it would be because you've used a relatively big percentage of your credit limit on that card.

If you have a thousand dollar limit and you have $800 of charges on the card, it's going to ding your FICO. The lower your credit limit, the easier it would be to spend enough to ding your score, so if your credit limit is $500, spending way less ywould also ding your score. That would happen with any card. The card issuer doesn't etermine that your score will be dinged; the credit agencies do that.

Not really sure what the problem with the Q card is, but they should be able to tell you if it's different from other cards. I doubt it is, but then again, I've never had a Q card.

millieshops · ‎03-09-2010

@gourmet Just thought of something else that might help you. Have you pulled up your free anuual credit reports like the financial advisors tell you to do every few months.

Those reports would give you an idea why your score is fluctuating - they explain things and make suggestions. It would be interesting to see what they tell you.

Gourmet · ‎12-25-2014

I have a 5000 dollar credit limit and only use it for flex pays and then pay off the card.

scotnovel · ‎12-31-2013

@millieshops wrote:
If their card is like other credit cards, it would be because you've used a relatively big percentage of your credit limit on that card.

If you have a thousand dollar limit and you have $800 of charges on the card, it's going to ding your FICO. The lower your credit limit, the easier it would be to spend enough to ding your score, so if your credit limit is $500, spending way less ywould also ding your score. That would happen with any card. The card issuer doesn't etermine that your score will be dinged; the credit agencies do that.

Not really sure what the problem with the Q card is, but they should be able to tell you if it's different from other cards. I doubt it is, but then again, I've never had a Q card.

I agree plus the other thing that will lower your credit limit is if your spending pushes you above more that 50% of your available credit and your balance stays that way. For example, if you credit limit is $5000 and your spending means you are constantly carrying a balance of more than $2,500 that will lower your score.

KathyPet · ‎03-09-2010

Your credit score is partially dependent upon how much of your existing credit limit on credit cards you have outstanding at any one time. If you have 3 cards with a limit of $1000.00 on each and you owe $300.00 on each card your credit score is calculated is based on your outstanding balance measured against your credit limit. If you suddenly start charging and now owe $600.00 on two of those cards you are using more of your available credit and your score will go down because the credit bureaus use the amount outstanding vs credit limit to calculate your score. It is not just because you are using your Q card. It works the same way no matter which type of credit card you have.

katiescarlett · ‎03-24-2010

@millieshops wrote:
If their card is like other credit cards, it would be because you've used a relatively big percentage of your credit limit on that card.

If you have a thousand dollar limit and you have $800 of charges on the card, it's going to ding your FICO. The lower your credit limit, the easier it would be to spend enough to ding your score, so if your credit limit is $500, spending way less ywould also ding your score. That would happen with any card. The card issuer doesn't etermine that your score will be dinged; the credit agencies do that.

Not really sure what the problem with the Q card is, but they should be able to tell you if it's different from other cards. I doubt it is, but then again, I've never had a Q card.

I don't necessarily agree with your statement that if you spend way less than your credit limit, your score is dinged and that it happens with any card. My credit limit on my VISA is high, and I don't spend a 10th of it each month and my score is very high.

Saving one dog won’t change the world, but it will surely change the world for that one dog
Richard C. Call

KathyPet · ‎03-09-2010

@katiescarlett wrote:
@millieshops wrote:
If their card is like other credit cards, it would be because you've used a relatively big percentage of your credit limit on that card.

If you have a thousand dollar limit and you have $800 of charges on the card, it's going to ding your FICO. The lower your credit limit, the easier it would be to spend enough to ding your score, so if your credit limit is $500, spending way less ywould also ding your score. That would happen with any card. The card issuer doesn't etermine that your score will be dinged; the credit agencies do that.

Not really sure what the problem with the Q card is, but they should be able to tell you if it's different from other cards. I doubt it is, but then again, I've never had a Q card.
I don't necessarily agree with your statement that if you spend way less than your credit limit, your score is dinged and that it happens with any card. My credit limit on my VISA is high, and I don't spend a 10th of it each month and my score is very high.

Yes but if you owed absolutely nothing on those cards your score would probably be even higher. I checked my Experian credit report using the DISCOVER card free application and my current utilization of my credit limit for all my cards is only 4% of my available credit limit on all my cards. My Experian score was 837 out of a possible 850. That is considered exceptional. However I bet that if I did not use the cards at all for a couple of months my score would be even higher. I may just give that a try and see if I can get a 850.