1 year, 5 months ago
What kinds of finance fees do department store credit cards charge?
Is it easier to get a credit card from a department store or a bank? Do department store credit cards have annual fees?
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M$1 Answer
Department store credit cards sometimes have higher interest rates than competing credit offers from other cards that aren't associated with a retail location. Some cards may offer points or rewards that can be redeemed for in-store merchandise, but if you carry a balance, any gain will quickly be lost by the high interest charges.
I don't think credit cards are any easier or more difficult to get when they are through a department store rather than a bank. In spite of the marketing, both types of cards operate using the same basic systems and guidelines, and your credit score will still be considered in both cases. Also, many department store cards don't have annual fees, but you should always read the fine print to make sure.
Sources:
http://www.mmpersonalloans.com/department-store-credit-cards/
http://www.cardhub.com/store-credit-cards/
I don't think credit cards are any easier or more difficult to get when they are through a department store rather than a bank. In spite of the marketing, both types of cards operate using the same basic systems and guidelines, and your credit score will still be considered in both cases. Also, many department store cards don't have annual fees, but you should always read the fine print to make sure.
Sources:
http://www.mmpersonalloans.com/department-store-credit-cards/
http://www.cardhub.com/store-credit-cards/
You can leave an optional "tip" with Mahalo's virtual currency, Mahalo Dollars. If you are asking a difficult question that might require some research, or if you'd like a wide variety of feedback, a higher tip often leads to more answers to your question.
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