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Store Cards

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Cmikul
Regular Contributor

Store Cards

Are store cards that are co-branded...like a Macy's Amex or Dillard's Amex or Best Buy Visa....still considered....store cards ???

 

 

Or are they just the best of both worlds so you get the promo coupons and the ability to use that CL anywhere.

 

When I hear people talk about getting rid of all their store cards I assume they mean CL's limited to that store's inventory...not these co-branded examples.

 

 

Message 1 of 8
7 REPLIES 7
pizza1
Community Leader
Super Contributor

Re: Store Cards

Co-branded cards are NOT store cards. They are a major CC that can be used anywhere VS/MC/DISC/AMX is accepted.

Some people get rids of their store cards for different reasons...some had them as rebuilders, and now their overall credit profile is much better to qualify for majors, or they simply have out grown them, or they wish to downsize their CC profile.

Its different for everyone...Smiley Wink
Message 2 of 8
CH-7-Mission-Accomplished
Valued Contributor

Re: Store Cards


@pizza1 wrote:
Co-branded cards are NOT store cards. They are a major CC that can be used anywhere VS/MC/DISC/AMX is accepted.

Some people get rids of their store cards for different reasons...some had them as rebuilders, and now their overall credit profile is much better to qualify for majors, or they simply have out grown them, or they wish to downsize their CC profile.

Its different for everyone...Smiley Wink

I don't have any cobranded cards, but I'm curious -- how would a Walmart (MC, Visa, Discover) report on your credit report?  Would it say Walmart or would it just say Synchrony Bank?

 

I would think if the store name is there, it's scored as a retail card.  Just guessing.  How do they know??

Message 3 of 8
pizza1
Community Leader
Super Contributor

or


@CH-7-Mission-Accomplished wrote:

@pizza1 wrote:
Co-branded cards are NOT store cards. They are a major CC that can be used anywhere VS/MC/DISC/AMX is accepted.

Some people get rids of their store cards for different reasons...some had them as rebuilders, and now their overall credit profile is much better to qualify for majors, or they simply have out grown them, or they wish to downsize their CC profile.

Its different for everyone...Smiley Wink

I don't have any cobranded cards, but I'm curious -- how would a Walmart (MC, Visa, Discover) report on your credit report?  Would it say Walmart or would it just say Synchrony Bank?

 

I would think if the store name is there, it's scored as a retail card.  Just guessing.  How do they know??


Store cards are classified as "revolving" or "charge acct",  and majors are classified as "credit card". Banks know the differenceSmiley Happy

Message 4 of 8
Anonymous
Not applicable

Re: Store Cards

No. They are not considered to be store cards because the card is not limited to a specific store. It can be used anywhere.

Message 5 of 8
NRB525
Super Contributor

Re: or


@pizza1 wrote:

@CH-7-Mission-Accomplished wrote:

@pizza1 wrote:
Co-branded cards are NOT store cards. They are a major CC that can be used anywhere VS/MC/DISC/AMX is accepted.

Some people get rids of their store cards for different reasons...some had them as rebuilders, and now their overall credit profile is much better to qualify for majors, or they simply have out grown them, or they wish to downsize their CC profile.

Its different for everyone...Smiley Wink

I don't have any cobranded cards, but I'm curious -- how would a Walmart (MC, Visa, Discover) report on your credit report?  Would it say Walmart or would it just say Synchrony Bank?

 

I would think if the store name is there, it's scored as a retail card.  Just guessing.  How do they know??


Store cards are classified as "revolving" or "charge acct",  and majors are classified as "credit card". Banks know the differenceSmiley Happy


I've heard that cards like the Macy's AMEX have two separate credit lines, one for in the store, and a lesser limit for use outside the store?

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April 2022 EQ=811 TU=807 EX=805 - TU VS 3.0 765
Message 6 of 8
B335is
Moderator Emeritus

Re: Store Cards

Yeah Macy's Amex has two lines. One is the acct for purchases outside of Macy's (Amex) and the other is for purchases inside Macy's. They used to have the major purchases acct that didn't report to CR.
Message 7 of 8
Anonymous
Not applicable

Re: Store Cards


@B335is wrote:
Yeah Macy's Amex has two lines. One is the acct for purchases outside of Macy's (Amex) and the other is for purchases inside Macy's. They used to have the major purchases acct that didn't report to CR.

I had heard that the financing reports as a third tradeline, but on the website it looks like it's merged with the general Macy's account.  Before my first statement cuts I'll buy something small at Macy's, and something small at Riteaid just to see how it reports (got to build those plenti points).

Message 8 of 8
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