![]() These cards also generally come with an initial discount, which retailers use to attract people to apply for the card. ![]() For example, the Target RedCard offers 5% back on purchases at Target. The cards typically offer discounts on purchases made at the issuing retailer. Store credit cards are offered by the retailer but are usually managed by a third-party bank. But if you pay off your card in full each month, you won’t pay any interest. You’ll pay interest on purchases if you don’t pay them off immediately. They are common at department stores like Macy’s, chain stores like Target and online retailers like Amazon.Ī store credit card allows you to make purchases at the retailer and then pay them off over time. Let’s start with the basics: What is a store credit card, and are they different from standard credit cards?Ī store credit card is a financial product offered by a specific retailer. These deals can be tempting, but are store credit cards worth it? What are store credit cards? It’s a familiar experience for shoppers these days: You get to the checkout counter, and you’re immediately offered an application for the store’s credit card - usually with a discount or complimentary gift thrown in if you apply today.
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