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With retail store credit cards there are a few differences from the normal reward credit cards that you may have in your wallet. One of the differences is that they are used for specific stores and merchandise, unlike the general credit card.
Another thing that is different is the rewards that are offered are usually from their store only; however, if you shop frequently there, chances are good that it will be beneficial to you in saving money.
Below are some of the best retail store credit cards for your information.
Popular Retail Store Credit Cards for 2017
Costco Anywhere Visa Card by Citi
Amazon Rewards Visa Card
I know we use Amazon for everything from books to diapers to jeans. So just earning 3% back on those purchases makes this card worthwhile.
Gap, Old Navy, Banana Republic Card
You can choose to go with the store only card, or get the Visa version. Unlike a lot of other store branded cards, the Gap Visa also allows you to earn rewards on non-Gap shopping (at the 1% level). Sometimes, Visa will even offer bonus rewards just to use your Gap Visa at someplace other than The Gap!
More frequent Gap-brand shoppers may want to up to the Silver level, and earn bonus rewards, points, and other goodies.
Walmart Credit Card
Some store branded credit cards offer great incentives to use those cards in the store, but only average or non-existent benefits everywhere else. For that reason, we cannot recommend that any store branded card become your sole credit card.
Also, when you take out a retail credit card that is for in-store purchases only, it will not necessarily help you build your credit. Yes - the issuer will pull your credit to underwrite you. But after that they will not regularly update credit bureaus if you are making regular payments.
So, if you are looking to improve your credit profile, you may want to check out one of our recommended cards to help build your credit.
As always, we do encourage you to avoid running up balances and digging yourself into debt. Any credit card interest costs will swamp the potential added savings of a rewards program.
And, of course, happy shopping.