Credit cards from department stores

Many department stores offer credit cards branded with the store’s name. These store credit cards can be a good choice as a first credit card for a person seeking to build a credit score. However, they tend to have quite high interest rates.
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Difference between store rewards cards and credit cards

Store reward cards and credit cards can appear similar and be used at the same places.  Although they are often confused they are quite different in the way that they are used.

Store reward cards collect points for purchases.  They are not the primary means for payment.  They can only be used in certain stores, although there has been the growth of rewards cards that cross over a number of shops and service providers.
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What are Store Credit Cards?

Store Credit Cards are some of the most expensive credit cards on the market.  They are usually offered by large store chains and are branded with the name of the store.  They are often offered to customers at the point of sale and they tend to offer discounts on the store’s products, and if chosen wisely these can be some of the best rewards programs.

Store cards offer convenience.  Unlike standard credit cards, which usually are applied for by post, store cards can be applied for while in store and rarely require an extensive credit check. There is also little chance to compare the cards with other credit options, as it is done in a short space of time outside the home. Read the rest of this entry »