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Top 5 July 2020 store credit cards

We evaluated store credit cards offered by our partners to find the best store credit cards. Keep in mind that sometimes even best store credit cards can't beat regular rewards credit cards. Store credit cards have high interest rates and limited redemption options. However, they may be loaded with other perks that will allow you to save on purchases at your favorite retailer. Plus, many store credit cards are available to people with bad or poor credit and allow building a credit history.

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#1 Credit Card

Ongoing APR on Purchases
0.00%
Initial Credit Limit
Instant $500 Credit Line.
Card Type
Unsecured Store Card
Instant Response
Yes
Credit Card Usage
Use exclusively at the Horizon Outlet (thehorizonoutlet.com).
Ongoing APR on Purchases
0.00%
Initial Credit Limit
$500 Unsecured Credit Limit
Card Type
Unsecured Store Card
Instant Response
Yes
Credit Card Usage
Use exclusively at the Horizon Outlet (thehorizonoutlet.com).
Ongoing APR on Purchases
0%
Initial Credit Limit
See Terms
Card Type
Unsecured Store Card
Instant Response
Yes
Credit Card Usage
Use at My Unique Outlet (myuniqueoutlet.com).
Ongoing APR on Purchases
9.99% (Fixed)
Initial Credit Limit
Activate Today with a refundable Security Deposit, Minimum $200, Maximum $1,000.
Card Type
Secured
Instant Response
No
Credit Card Usage
Use Anywhere.
Ongoing APR on Purchases
24.99% – 29.99%
Initial Credit Limit
Initial Credit Limit of $300.
Card Type
Unsecured
Instant Response
Yes
Credit Card Usage
Use Anywhere.

Does it make sense
to have a store credit card?

Store credit cards can serve you well in several cases. First is when you spend thousands of dollars at a particular retailer and rewards earned with this store credit card are higher than any general rewards credit card could offer. Using a store credit card, you can save hundreds on purchases at your favorite retailer.

Second is when you are trying to build or rebuild your credit, you may find it quite reasonable to have a store credit card. As a rule, when choosing between a general rewards card and a store credit card, a store credit card is easier to get approved for. Store credit cards report credit activity to one or all three major credit bureaus allowing you to build your credit.

Also, store credit cards are good when you are planning a big purchase. The cards may offer promotional financing at 0% or lower than the average interest rate.

Credit Card
Store cards give access to a line of credit.
High Approval Odds
Designed for loyal customers, store cards have a high approval rate.
Credit Building
Store cards report to one or all three major credit bureaus.
Benefits
Store credit cards reward loyalty by offering discounts or other benefits.
Special Financing
Some store cards offer special financing for select purchases.

How do store
credit cards WORK?

Store credit cards are issued by a bank together with a retailer. They are basically co-branded credit cards. Store cards can offer rewards, discounts, free shipping, special financing, and other benefits to loyal shoppers who use them. There are two types of store credit cards: open loop cards and closed loop cards.

Closed loop cards

These are store credit cards that can only be used for purchases at a specific retailer or store and its partners. Closed loop cards are not affiliated with a payment network like Visa or Mastercard, so the cards can be used for other purchases outside the issuing retailer.

Open loop cards

These are store credit cards affiliated with a payment network like Visa, Mastercard, American Express, or Discover. The cards can be used for purchases anywhere that payment network is accepted, including at the issuing store.


Store credit cards typically come with lower credit limits and higher interest rates than regular credit cards. If a store card offers special financing, then, most likely, it's a deferred 0% interest offer, not a real 0% intro APR. All in all, store credit cards work like regular credit cards, and you will need to make all monthly payments on time if you want to build your credit.

How to choose a store credit card?

If you decided to apply for a store credit card, take some time to think about which card will be best for you. First of all, think where you shop most often and check if those retailers offer store credit cards. Find out if the retailer offers closed loop or open loop credit cards, or both. If you can't decide between the two, check your credit score. Closed loop cards are usually good for people with bad credit, and open loop cards are for people with good credit.

Since store credit cards are usually no annual fee credit cards, pay attention to interest rates. While it's not recommended to carry a balance from month to month on a store credit card, you may still want a store card with a lower interest rate. Then pay attention to rewards and benefits. Now you will need a calculator to literally calculate your potential savings from using this or that store credit card.

If the store does not matter and you simply need a store credit card just to build or rebuild your credit, then you can choose any store credit card that reports to all three major credit bureaus.
Payment Network
If you want to use your card everywhere, look for open loop store cards.
Build Credit
Store credit cards can report to one or all three major credit bureaus.
Rewards
Some store credit cards may offer rewards in the form of points or discounts.
0% Financing
Planning a big purchase? Look for a store card with special financing offers.
Annual Fee
While most store cards do not charge an annual fee, some cards can have this fee.

Let's compare
store credit cards BY MAIN
FEATURES:

viewing 0-0 of 0
Ongoing APR on Purchases
0.00%
0.00%
0%
9.99% (Fixed)
24.99% – 29.99%
See Terms*
17.39% (variable)
Annual Fee
See Terms
See terms
N/A
$48
$75 - $99
See Terms*
$35
Monthly Membership Fee
$24.95
$24.95
$19.95
See terms
$10.00 per month, not billed for the first 12 months your account is opened.
See Terms*
$0
Application Processing Fee
See Terms
See terms
$29.95 Account Activation Fee
None
See Terms*
See Terms*
See Terms
Initial Credit Limit
Instant $500 Credit Line.
$500 Unsecured Credit Limit
See Terms
Activate Today with a refundable Security Deposit, Minimum $200, Maximum $1,000.
Initial Credit Limit of $300.
$300 credit limit (subject to available credit)
The refundable deposit you provide becomes your credit line limit on your Visa card. Choose it yourself, from as low as $200.
Instant Response
Yes
Yes
Yes
No
Yes
Yes
Yes
No Credit Check
Yes
Yes
Yes
Yes
Yes
No
Yes
Guaranteed Approval
No
No
Yes
No
No
No
No
Credit Repotring
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Checking Account Required
No
No
No
No
Yes
Yes
No
Credit Card Required
Yes
Yes
Yes
No
No
No
No
Debit Card Required
Yes
Yes
Yes
No
No
No
No
Card Type
Unsecured Store Card
Unsecured Store Card
Unsecured Store Card
Secured
Unsecured
Unsecured
Secured
Payment System
Horizon Card Services
Horizon Card Services
Unique Card Services
Visa®
Mastercard®
Visa
Visa®
Credit Card Usage
Use exclusively at the Horizon Outlet (thehorizonoutlet.com).
Use exclusively at the Horizon Outlet (thehorizonoutlet.com).
Use at My Unique Outlet (myuniqueoutlet.com).
Use Anywhere.
Use Anywhere.
Use Anywhere.
Use Anywhere.

Alternatives to store credit cards

If you want to apply for a store credit card to build your credit, consider other options as well. There are secured credit cards designed for people with bad or no credit at all. If you do not like the idea of paying a security deposit, check out credit cards for people with bad credit that will allow you to pre-qualify without impacting your credit score.

With good credit, check out general rewards credit cards that are not co-branded with any retailer. There are credit cards with different rewards programs, and who knows, maybe a simple 2% cash back credit card with various redemption options will be a better choice than a store credit card with limited redemption options.

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