Retail credit cards can be good to have for many reasons. Most retail stores send coupons to cardholders every month for exclusive discounts. Retail cards are also a great way to build credit if you are a responsible card holder. Typically, retail credit cardholders get access to additional services like free delivery, online discounts, and pre orders for hot new items.
Even though retail credit cards have many positive benefits, you should beware of some things. For example, many retail credit cards have very high interest rates. Carrying a monthly balance on any high interest credit card can be very costly. Another factor to consider is that many retail credit cards try to get you to apply for a card to get a discount on your purchase. This may cause you to make some hasty decisions about purchases. Stretching your credit just to get a discount is not a wise financial decision.
Managing your credit well will help you avoid some of the pitfalls of consumer credit card debt. Making late payments and going over your limit are sure ways to get in over your head. These types of habits can cause your credit score to plummet. One thing about retail credit cards is that delinquent accounts will quickly be turned over to a collection agency resulting in even more fees and negative credit issues.
If you are thinking about getting a retail credit card, use your credit wisely. If you already have the money set aside, you can use your retail card to get discounts and special savings. Then each month, you can pay off your balance. Following is retail credit card information from the top eight retail stores in the United States that offer retail credit cards.
Amazon.com Retail Credit Card
Amazon.com offers so much more that books. The Amazon Visa Card gives you $20 off your first purchase once you receive your card and 1,500 bonus points. It also rewards you 3 points every time you shop at Amazon.com and 1 point every time you shop somewhere else. Every time you earn 2,500 points you will get a $25 Amazon.com gift certificate. You can use the card everywhere that Visa is taken and there is no annual fee.
Dress Barn Retail Credit Card
The Dress Barn Credit Card gives you 10% off your first purchase. You can find out if you are approved right at the register. It only takes a few minutes and you can charge your entire purchase right then and there. You will receive exclusive coupons in the mail and be allowed to come early to store wide sales in order to get the best deals. There is no annual fee and you can pay in any store, on line, or through the mail.
J. Crew Retail Credit Card
J. Crew offers a credit card that gives you 10% off of your first purchase whether in store or online. For every $500 you spend, you will receive a $25 gift card to spend in the store. J. Crew also holds private sales that only card holders are invited to. As a cardholder, you have access to Lookbooks. Lookbooks is a special feature on J.Crew.com that shows you what pieces go together and how to wear them. Your purchases are eligible for free standard alterations and you can schedule personal shopping before opening or after closing.
Best Buy Retail Credit Card
The Best Buy credit card gives you many options. One option is to spend at least $499 at one time and if you pay in full within 18 months, no interest will be charged. If you spend at least $299 at one time, no interest will be charged for 6 months. Any purchases under $299 have no interest for 90 days. This card can be instantly approved right at check out for those who are eligible. You can use the Best Buy Credit Card in store or online.
Cabela’s Retail Credit Card
Cabela’s Club Visa helps you earn points toward free gear when you shop anywhere that Visa is accepted. As soon as you are approved, you will receive a free $15 in points to shop with. Every time you shop at Cabela’s you earn 2% cash back and every time you use your card somewhere else, you get 1% cash back. This cash back can be spent at Cabela’s. In addition to this, you will receive exclusive discounts that only cardholders receive.
Costco Retail Credit Card
The TrueEarnings Card from Costco and American Express was developed exclusively for Costco members. There is no annual fee and you earn cash back for every purchase. You can earn 3% for gasoline purchases and restaurants. You earn 2% cash back for travel and 1% on everything else including shopping at Costco. You can get an additional card for free for anyone else listed on your membership and their purchases earn you cash back as well. The first three months have an introductory interest rate of 0%.
Target Retail Credit Card
The Target Visa Credit Card, also called the Red Card, comes with many benefits. As soon as you sign up for the Red Card, you will receive two 10% off coupons in the mail. One is good for a purchase at the store and one for a purchase online. Every dollar spend will earn you a point and 1,000 points equals 10% off of a purchase. Every time you use your Target Visa Credit Card for a prescription at any Target Pharmacy you will receive a 10% off coupon. For families, perhaps one of the best rewards is this; when you use your Red Card Target will donate 1% of your purchase to the school of your choice.
Wal-Mart Retail Credit Card
Wal-Mart has two cards available; the Wal-Mart Credit Card and Wal-Mart Discover. Both come with a special introductory offer. If you make a purchase of $250 or more, you will have no interest for 12 months. Both have $0 fraud liability, no annual fee, a savings of $.03 when used at Wal-Mart gas stations, and the option of up to a $100 cash advance when you make a purchase. In addition to these features, the Wal-Mart Discover earns you up to 1% cash back on all purchases.
Should You Get A Retail Credit Card?
Deciding which card is right for you is based on many things such as your shopping habits and what benefits you are looking for. If you still aren’t sure which retail credit card you should get, we have an option for you. You can use the free credit card chaser tool on this page to compare credit cards from several different companies and learn what each has to offer. It’s a no pressure way to compare what’s out there on your own terms. You can click on it right now and get the answers you need!
