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Valued Contributor
Posts: 2,060
Registered: ‎11-17-2012
0

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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Epic Contributor
Posts: 29,077
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.

Valued Contributor
Posts: 2,060
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?


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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: 2,060
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!


Quicksilver WMC $20k | JCPenney Platinum $10k | Drive for Five $800 | Freedom VS $5k | TD Cash VS $5k | CFU VS $14.8k | Blue Sky $13.7k | IT $28k | SavingStar $14.8k | BCE $11.3k | Macy's AMEX $7.2k | BuyPower WEMC $7.5k | CSR VI $13.3k | FICOS: EX 777 EQ 752 TU 758 VantageScore 3.0: EX 764 EQ 764 TU 766

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