Best Store Cards?

[pdxuser]

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?

[haulingthescoreup]

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.

[pdxuser]

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?

[Anonymous]

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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.

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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

[haulingthescoreup]

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!

[pdxuser]

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

[Anonymous]

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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

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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

[Anonymous]

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

[islandchild82]

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!

[Anonymous]

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

Are not!