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Valued Contributor
Posts: 1,919
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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FICOS: EX 755 EQ 717 TU 746 VantageScore 3.0: EX 738 EQ 743 TU 745 Credit Sesame (EX) 745 Credit.com (EX) 794 CapOne (TU) 787
Epic Contributor
Posts: 25,813
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.

Fico Scores 8: EX 694. TU 689. EQ 658. 05/26/2015
Valued Contributor
Posts: 1,919
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 $20k | JCPenney Gold $10k | 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 $13.7k | Discover IT $14.5k | SavingStar American Express $14.8k | American Express BCE $11.3k

FICOS: EX 755 EQ 717 TU 746 VantageScore 3.0: EX 738 EQ 743 TU 745 Credit Sesame (EX) 745 Credit.com (EX) 794 CapOne (TU) 787
Moderator Emeritus
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
Posts: 1,919
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 $20k | JCPenney Gold $10k | 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 $13.7k | Discover IT $14.5k | SavingStar American Express $14.8k | American Express BCE $11.3k

FICOS: EX 755 EQ 717 TU 746 VantageScore 3.0: EX 738 EQ 743 TU 745 Credit Sesame (EX) 745 Credit.com (EX) 794 CapOne (TU) 787
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