Unknown account in my name

Chapuys

I don't see this as malicious as the account wasn't used. I just see it as someone (more likely a younger sister maybe) wanting to buy something from Very but was rejected. Thinking "Why can't I get credit?... I wonder if big brother Whitee will be rejected too?" so puts in Whitees details and bam! Credit achieved. She probably just thought 'oh well' and closed the browser without thinking the account was created.

Geoff1963

Just for my education, why does a store card adversely affect a credit score ; when using credit, is the way to build it up ? I've sometimes been offered a store card with a large purchase, to make a saving, and never taken it up ; some sixth sense told me it was a bad idea, and the posters are saying my instinct was right, but I'm not quite sure why. Thanks.

Whitee

This would have an adverse impact on my credit due to it being a new account and recent applications of credit don't look great, but over time the longevity of the account will be positive if good management is shown.

If you were to use a store card and pay off in full every Month and not run up any debts then yes it would improve your credit status as you are showing you can manage the account well. The store holders would want you to open a store card because
A. They could potentially earn money out of you - if you were to build debts they can implement interest charges.
B. You will most likely shop there more often.

Ben8282

Geoff1963 wrote: »

Just for my education, why does a store card adversely affect a credit score .

It doesn't.