Everything you need to know about the Store Credit Cards!

The whopping increase in the number of retail consumers in recent times can be estimated by the fact that almost every big or small retailer wants to cash on the opportunity of selling Store Credit Cards to the buyers. Walking in a retail store and hearing the highly convincing sales pitch of the executives about the benefits of the store credit card is, in fact, a common occurrence.

If you’ve ever wondered what exactly store credit cards are, their pros & cons along with the top 3 store credits cards you can look at, this post is for you.

What is Store Credit Card?

A store credit card is, essentially, a credit card that offers additional discounts on your purchases every time you shop at the store you hold the store credit card for.

The concept of the Store credit cards was initiated by the departmental stores at the beginning and picked up by other stores later. Store Credit Cards offer several discounts and other incentives every time you make a purchase at the store.

How do they work?

• Similar to the traditional credit card, a store credit card allows you to make purchases on the card that you can clear off over a period of time
• The interest rates on the store credit cards are generally higher than the traditional card

Pros of the Store Credit Cards

Some of the benefits of Store Credit Cards are-

• Benefit of regular discounts at the store
• Freedom to buy anything anytime
• Sign up discount offer at most stores

Cons of the Store Credit Cards

• Store credit cards generally come at much higher interest rates
• Fewer benefits as compared to the traditional credit cards such as low credit limit

Top 3 Store Credit Cards of 2017 reviewed for you

1. Amazon Prime Store Card

The benefits of Amazon prime Store Card are-

• No annual fee
• Unlimited 5% back credit on the purchase of all Amazon.com products
• 0% promotional financing from 6 to 24 months on purchases totaling $149 or more

 

2. Costco Anywhere Visa Card by Citi

The benefits of Costco Anywhere Visa Card by Citi are

• Benefit of 4% cash back on gas purchases on up to $7,000 in spending annually
• 2% cash back on all Costco purchases and 3% cash back on restaurants and travel
• This store card can be used anywhere Visa is accepted

 

3. Target RED card

The benefits of Target RED card are-

• Free shipping at Target.com
• Benefit of 5% discount on all Target purchases, and 30 extra days for returns
• Users can get the value out of the accumulated rewards points on the card upfront instead of redeeming them later
• No annual fee

 

View ALL Store Credit Cards