topic Re: Best Store Cards? in Credit Cards

Best Store Cards?

pdxuser — Thu, 21 Feb 2008 00:39:43 GMT

Do some store cards have good or bad reputations? I could obviously just go with a store I already use, but I may be willing to switch grocery stores or whatever for a friendlier card. Also, what are the better card comparison sites?

Re: Best Store Cards?

haulingthescoreup — Thu, 21 Feb 2008 01:21:06 GMT

Oh, yeah, there are DEFINITELY differences. Type store card in the search box and sit back.

To me, the most important thing is to find out what bank handles or mishandles the card. That tends to sum it up right there. Some stores (Nordstorm, Target) serve as their own bank. You might have to go to the store's cc site and pretend to app to find out who's behind it.

After that, think about whether you actually shop there, and do they give really good deals to cardholders. And almost all store cards have really high APR's, so think of them as PIF'ers.

Among the favorites around here: Nordstrom, Kohl's (Chase), Macy's (Dept Store National Bank, which in turn is Citi), Home Depot store (Citi), Best Buy store --NOT the MC (HSBC.) I have a particular hatred for WFNNB and GEMB, who are behind a lot of store cards that people here love. I think it's one of those deals that as long as you don't have any problems, they're great, but they can be pretty awful when you need them to clean up a mess. I lie in bed at night and think about different ways that I could destroy my J.Crew (WFNNB) card and my younger daughter's Gap (GEMB) card.

Re: Best Store Cards?

pdxuser — Thu, 21 Feb 2008 01:29:24 GMT

Thanks! As fun as it is to read through the forums, though, it might be a little time consuming searching through the threads for comparison shopping. I know there are comparison sites that provide terms, moderators' reviews, and user reviews for cards. I was wondering if any of those sites had good reputations? Then maybe I could come back here and do searches for the cards that look good to me?

Re: Best Store Cards?

Anonymous — Thu, 21 Feb 2008 01:30:18 GMT

haulingthescoreup wrote:
I have a particular hatred for WFNNB and GEMB, who are behind a lot of store cards that people here love. I think it's one of those deals that as long as you don't have any problems, they're great, but they can be pretty awful when you need them to clean up a mess. I lie in bed at night and think about different ways that I could destroy my J.Crew (WFNNB) card and my younger daughter's Gap (GEMB) card.

I just remembered why I hated my Old Navy (GEMB) card at first. They didn't accept payments in the store (this may have changed, I gave up trying), and you had to sign up for mycheckfree to make online payments (also could have changed by now, not sure).

Oh, and my other GEMB card (CareCredit) has two choices for auto-pay -- the minimum or the entire balance. I couldn't set up to pay $50 bucks every month so I'd have to use the min.option and then try to send in extra or just PIF if I could.

I like my WFNNB/VS card and haven't had any probs with it. I've even noticed a bit of a flex with respect to due dates. My payments would post a few days late, tho I didn't receive a late charge.

Macys has been good to me, tho I do want the VISA eventually. Target is a nice one to have because they do (in my case EVENTUALLY) upgrade you to the Visa and they give auto-CLIs.

I agree with an earlier reply -- get a store card that you'll actually use and reap the benefits from having. I really enjoyed the 10% for cardholders at Macys at Christmas, along with coupons sent in the mail. Old Navy gives rewards and discounts too. Good luck with your decisions -- just please don't carry a balance on a store card -- killer APRS!

-Peas

Re: Best Store Cards?

haulingthescoreup — Thu, 21 Feb 2008 01:35:37 GMT

I've looked at this site several times:

http://www.creditcards.com/

They do brief reviews of the cards, and they're usually pretty accurate. But I guess it's impossible for them to keep on top of changes, especially with the rewards cards.

It's interesting, now that I think about it, I don't believe this topic comes up all that often. We're all too busy arguing with one another!

Re: Best Store Cards?

pdxuser — Thu, 21 Feb 2008 01:41:00 GMT

Once it becomes a Visa, though, FICO doesn't consider it a store card in the credit mix, right?

Update: Thanks for the tip on creditcards.com. I'll check it out later, right now I have to force myself out the door.

I swear, learning so much about credit in this forum, I may not have time for the whole earning and spending money part!

Message Edited by pdxuser on 02-20-2008 05:41 PM

Re: Best Store Cards?

Anonymous — Thu, 21 Feb 2008 02:15:50 GMT

pdxuser wrote:
Once it becomes a Visa, though, FICO doesn't consider it a store card in the credit mix, right?

Update: Thanks for the tip on creditcards.com. I'll check it out later, right now I have to force myself out the door.

I swear, learning so much about credit in this forum, I may not have time for the whole earning and spending money part!

Message Edited by pdxuser on 02-20-2008 05:41 PM

The Target card, yes. If you get a Macys store card first, and if it becomes a VISA they BOTH report, one store card and one Visa. It looks like Macys/DSNB and VISA/DSNB on my CR. (I'm just an AU on those cards, well single card, but at least I get to 'see' what they look like.)

When the bills come you'll remember to EARN! Or if you become a pay freak like me, then you'll pay once every week or two when you notice you have some extra $$. I'm breaking my debit card habit, so I have to remember to pay more often so as to make sure things don't get out of control!

-Peas

Re: Best Store Cards?

Anonymous — Thu, 21 Feb 2008 03:08:26 GMT

honestly i love my Macys JCPenney and Walmart card good perks and come in handy

Re: Best Store Cards?

islandchild82 — Thu, 21 Feb 2008 04:45:22 GMT

Hauling,

I've noticed that you, as well as others, have mentioned more than once that the Best Buy card is better than the Best Buy Mastercard. What are the reasons? I'm thinking this may be a card I would like in the future once some of my new accounts have aged. TIA!

Re: Best Store Cards?

Anonymous — Thu, 21 Feb 2008 04:47:22 GMT

haulingthescoreup wrote:
We're all too busy arguing with one another!

Are not!

Re: Best Store Cards?

Anonymous — Thu, 21 Feb 2008 05:33:23 GMT

@Anonymous wrote:

@haulingthescoreup wrote:
We're all too busy arguing with one another!

Are not!

Am too!

Re: Best Store Cards?

Anonymous — Thu, 21 Feb 2008 05:53:20 GMT

@Anonymous wrote:

@Anonymous wrote:

@haulingthescoreup wrote:
We're all too busy arguing with one another!

Are not!

Am too!

Re: Best Store Cards?

haulingthescoreup — Thu, 21 Feb 2008 11:56:40 GMT

@islandchild82 wrote:

Hauling,

I've noticed that you, as well as others, have mentioned more than once that the Best Buy card is better than the Best Buy Mastercard. What are the reasons? I'm thinking this may be a card I would like in the future once some of my new accounts have aged. TIA!

I'm trying to remember how this goes. Here's some of it: since the store card can only be used in the store, and Best Buy sells expensive stuff, the credit limits on the store card tend to be quite generous. The store card comes with deals like 0% for 3 months and other offers. The MC is basically just another MC with higher points for in-store purchases, but it seems that it's hard to get a decent CL out of them, or CLI's. For all the hassle you have to go through on it (remember, this is HSBC,) it winds up being a pretty crummy MC. Brammy had some really entertaining posts about this back in October, I think it was. BTW, she deeply, deeply hates her Circuit City card.

I remember reading that to be sure to get the store card only, you have to app over the phone or in the store. If you app online, you wind up with the MC. I pointed my adult son to the store card and he got in by app'ing in person right before the Thanksgiving blood-letting. His scores were in the low 700's, but his file was really "thin" (not many accounts) with a few lates from his early college years, and they only gave him $1000. But he's used it a lot, hasn't had any problems with it, and they've already CLI'd him.

Message Edited by haulingthescoreup on 02-21-2008 03:56 AM

Re: Best Store Cards?

orl2185 — Thu, 21 Feb 2008 12:28:58 GMT

For me best store card by far is Nordstrom. Their CSR is superb and they will upgrade to visa in no time.

Re: Best Store Cards?

Anonymous — Thu, 21 Feb 2008 13:02:01 GMT

@orl2185 wrote:
For me best store card by far is Nordstrom. Their CSR is superb and they will upgrade to visa in no time.

So I've heard. It's the only store card I think I'd actually get some use out of besides Amazon (which I heard can be hard to get)...Do you happen to know how much history Nordy visa requires?

Re: Best Store Cards?

Anonymous — Thu, 21 Feb 2008 14:43:48 GMT

I love Macys. They send 20% off coupons every month. They send $20 and $25 Macys coupons all the time. "Macys Bucks" during the holidays. Plus they have extra savings for card holders on a regular basis. I usually pay with my Macys card and then make a payment for the amount of the purchase at the same time. They offer mycheckfree payment service... Or, you can make a one-time online payment from your checking account. The online account information doesn't give the credit line or available credit. I've never asked for a CLI. But mine seems to increase quickly and generously. I don't have and don't want the Visa.

Re: Best Store Cards?

Anonymous — Thu, 21 Feb 2008 18:11:28 GMT

I have 5 store cards, 1 gas card. Love most of them....some are ho hum. Here are mine in order of like:

J.C.Penny- $1,500 cl
Best Buy - $2,500 cl
Macy's - $600 cl
V.S. - $450 cl
QVC - $500 cl

1 gas card: Chevron/Texaco: $400 cl

Re: Best Store Cards?

islandchild82 — Thu, 21 Feb 2008 19:14:24 GMT

Thanks for the explanation, Hauling!

Re: Best Store Cards?

Anonymous — Thu, 21 Feb 2008 19:25:38 GMT

Among the favorites around here: Nordstrom, Kohl's (Chase), Macy's (Dept Store National Bank, which in turn is Citi), Home Depot store (Citi), Best Buy store --NOT the MC (HSBC.) I have a particular hatred for WFNNB and GEMB, who are behind a lot of store cards that people here love. I think it's one of those deals that as long as you don't have any problems, they're great, but they can be pretty awful when you need them to clean up a mess.

I was under the impress that HSBC pulls there credit checks with experian. I have a household credit card that i applied for about 3 months to rebuild my credit. Would it be wise to apply for a best buy store card since it is with the same bank. Because I have one individual card card and 3 cards as a authorize user. I need to build up my credit.

Any information would be greatly apprecated!!

Re: Best Store Cards?

Anonymous — Thu, 21 Feb 2008 19:37:16 GMT

Thanks Hauling you are awesome .