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I believe is a credit card issued by a retailer with or without a network like Visa, Mastercard, American Express or Discover. I have read different opinions about it.
@Anonymous wrote:I believe is a credit card issued by a retailer with or without a network like Visa, Mastercard, American Express or Discover. I have read different opinions about it.
Pretty much, though typically store card refers to the ones without a network that can only be used in certain stores.
The most important credit card websites apply the broad concept of store credit card.
Store credit card is a card that is limited to use only at the issuing merchant's stores. Examples would be the old Sears credit card (am I showing my age?) or Best Buy credit card (not the Visa version).
A store card with a Visa, Master Card, AmEx etc logo is a co-branded card. For example Best Buy also has a co-branded Visa card, it gives some perks when you use it at Best Buy, however you can also use the card at any other merchant that accepts Visa cards.
A co-branded card gives more flexibility allowing you to use it at more places, however sometimes the underwriting can be different for a store card vs a co-branded card.
That co-branded card = open-loop store credit card
@Anonymous wrote:The most important credit card websites apply the broad concept of store credit card.
What do you count as the most important sites?
The real question is what will you use the definition for, i.e. what makes the distinction (whatever it is!) significant? There are lots of possible distinctions. Consider, for example, the Best Buy Visa vs say the Elan Fidelity Visa. These are both cobrands, the best buy visa can be used to buy stuff at Best Buy (hopefully with some enhanced rewards) but the Elan Fidelity Visa doesn't really have that sort of option. (Well, as of recently if you have enough at Fidelity the card will provide enhanced rewards everywhere else!) So should we subcategorize? Probably not, unless there is some pattern, to do with underwriting ease, score considerations etc.
@Anonymous wrote:That co-branded card = open-loop store credit card
Yes, some sites call the co-branded cards an open-loop cards, they are the same thing.
One of the big distinguishing characteristics of store branded credit cards (whether they are store-only, closed loop cards or open loop, Visa/Mastercard/American Express network cards) is any rewards you earn from spending money using the cards is almost always in the form of rewards that can only be used at the store branded on the card. For example, with either the Citi Best Buy Visa card or the (Citi) Best Buy credit card, the rewards you earn are in the form of Best Buy Rewards points. When you earn 250 points, you get a $5 Best Buy gift certificate that can only be used at Best Buy or BestBuy.com. You CANNOT use the rewards earned on any flavor of Best Buy-branded credit card for straight cash back or a statement credit, or transfer them to another retail partner. (That last option often is available for travel-related co-brand cards, such as hotel, airline, or Amtrak cards.)
The reward restrictions on most co-branded cards is one of the major reasons why people tend to recommend not getting store-branded cards, unless you shop frequently at a given store and can really benefit from the rewards given through the card at that store. To a lesser degree the same applies with airline-branded cards relative to more general travel cards tied into one of the card issuer's own rewards programs (such as American Express Membership Rewards, Chase Ultimate Rewards, or Citi ThankYou Rewards).
longtimelurker some websites are: Wallethub, Nerdwallet, US News and World Report, bestcards.com, supermoney.com
@Anonymous wrote:longtimelurker some websites are: Wallethub, Nerdwallet, US News and World Report, bestcards.com, supermoney.com
All those sites i would imagine get paid to push certain credit cards.