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Valued Contributor
daybreakgonesXe
Posts: 1,864
Registered: ‎11-17-2012
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Store Card vs. Credit Card Question

Hey guys, I have a quick question:

 

I understand the difference between store and credit cards, however I want to verify the distinction.

 

Are co-branded cards (Walmart, Gap, Barnes & Noble, etc. with a visa/mastercard/amex/discover logo) considered "store" or "credit" when it comes to looking at the credit report?

 

Thanks!

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Creditaddict
Posts: 22,064
Registered: ‎10-23-2007
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Re: Store Card vs. Credit Card Question

I don't know that many "stores" handle the credit card themselves these days and I don't think GE puts language on credit report outside of "credit card"

I think more so you may see "Credit Card" vs. Charge Card" with some store credit cards these days.  My Von Maur Store Card is a Charge Card and is treated like an Amex Charge Card on Credit.

Macy's use to be that way also but now they are doing credit lines again so it may have changed back.

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Valued Contributor
daybreakgonesXe
Posts: 1,864
Registered: ‎11-17-2012
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Re: Store Card vs. Credit Card Question


Creditaddict wrote:

I don't know that many "stores" handle the credit card themselves these days and I don't think GE puts language on credit report outside of "credit card"

I think more so you may see "Credit Card" vs. Charge Card" with some store credit cards these days.  My Von Maur Store Card is a Charge Card and is treated like an Amex Charge Card on Credit.

Macy's use to be that way also but now they are doing credit lines again so it may have changed back.


In that you're right...they are distinguished between "credit" and "charge". I know my JCP is listed as a "revolving charge card", which is like an oxymoron in the myFICO credit world...

 

So then I pose this question: for those with the cobranded, how do they list them on your account? do they mention "charge card" anywhere in the description, or is it simply "credit card" like a Freedom would be?

Capital One Quicksilver World Mastercard $10k | JCPenney Platinum $7.5k | Shell Drive for Five $800 | Chase Freedom Visa Signature $9.8k | TD Bank Easy Rewards Visa Signature $5k | Chase Sapphire Visa Signature $10k | American Express Blue Sky $25k | Discover IT $9.5k | SavingStar American Express $14.8k

FICOS: EX 744 EQ 718 TU 733 Credit Karma (TU) 785 Transrisk 809/990 Credit Sesame (EX) 766 Credit.com (EX) 764 VantageScore 3.0 719 Quizzle (EQ) 721
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webhopper
Posts: 7,225
Registered: ‎09-16-2011
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Re: Store Card vs. Credit Card Question

The store cards are referred to as retail cards unless they get upgraded. For example; once wal mart card is upgraded to discover then its classified as a "major credit card"

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Valued Contributor
daybreakgonesXe
Posts: 1,864
Registered: ‎11-17-2012
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Re: Store Card vs. Credit Card Question


webhopper wrote:
The store cards are referred to as retail cards unless they get upgraded. For example; once wal mart card is upgraded to discover then its classified as a "major credit card"

Wonderful! Thanks webhopper!

Capital One Quicksilver World Mastercard $10k | JCPenney Platinum $7.5k | Shell Drive for Five $800 | Chase Freedom Visa Signature $9.8k | TD Bank Easy Rewards Visa Signature $5k | Chase Sapphire Visa Signature $10k | American Express Blue Sky $25k | Discover IT $9.5k | SavingStar American Express $14.8k

FICOS: EX 744 EQ 718 TU 733 Credit Karma (TU) 785 Transrisk 809/990 Credit Sesame (EX) 766 Credit.com (EX) 764 VantageScore 3.0 719 Quizzle (EQ) 721

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