You cannot use this card to get a cash advance or transfer a balance from another card. For example, you may use the Target RedCard Credit Card only at Target stores. When you get a store card, you may use it only at stores that are part of the retail chain in question. Bear in mind that applying for a store credit card, much like a regular credit card, will typically cause your credit score to temporarily drop by a few points. Going forward, using your card responsibly and making all your payments on time helps you build your credit score. The lowest credit score you need to qualify for a store card depends on the retailer you select but usually varies between FICO scores of 550 to 660.
Plus, you may qualify for a store card even if you have less-than-perfect or poor credit. The application process for most store cards is fairly straightforward, and you can usually expect a near-instantaneous decision. Several retailers encourage customers to apply for store cards during checkout by offering to link promotions to their purchases.
High credit utilization ratio can have a negative effectĬonventional credit card providers follow more stringent guidelines than retailers that provide store cards when it comes to the approval process.High reward rates through the partner brand Typically higher than non-co-branded cardsĭepends on your card and other eligibility criteria People with average credit may qualify for some cardsĪt any merchant that is linked to your card’s network
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