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08-10-2017 07:32 PM
Are cards like Delta, AARP, American Airlines, and etc considered store cards? What constitutes what is termed as a store card? I wouldn't want to hurt my Lexis Nexis score by getting an AARP card.
08-10-2017 07:38 PM
A store card would be one that you can only use with that merchant solely and not universal. Such as certain department stores have a store card and a credit card. The store card would one be used at that particular store and the branded credit card would be used anywhere the affiliation can be used, ie mastercard and/or visa.
08-10-2017 10:44 PM
Sub, you're fine if the card is a Visa, MasterCard, Discover, or AMEX.
The cards you mention are "co-branded." They're full-fledged major cards that are geared toward customers of those merchants.
08-11-2017 12:16 PM
08-11-2017 12:54 PM
Hey guys. It sounds like all major cards (defining "major" here to be "not store") have one of these four logos on them:
Amex, Discover, Visa, Mastercard
Is that right?
So is one way to go about this to define "major" as a card with one of those four logos on it -- and then a store card is a card is not a major card. Would that be right?
Thus even if a card is co-branded, e.g. a Best Buy Mastercard, it is not a store card.
And also no matter how many different businesses accept a card, if it lacks one of those logos, then it is a store card.
Wondering how this works myself.
08-11-2017 06:35 PM
I had a Wells Fargo retail card that I recently cancelled. It was good at about 50 or so merchants within about a 50-mile radius of where I live. I'd guess that about 75% of them were plumbing and heating contractors. Because its use was so restricted, I couldn't justify keeping it. I shouldn't have applied for it in the first place.
That said, people seem to do well with retail cards that fit their shopping patterns. Kohl's, Target, Home Depot, Lowe's, and Menards come to mind. If you're going to use those cards somewhat regularly and reap their rewards, you're likely to more than offset any possible ding on your insurance rates. The bottom line is that it makes sense to apply for retail cards if they can help you out. But otherwise, it would make sense to stick to "major" cards.
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