Is getting a credit card from a store better than getting it from a bank?

Is getting a credit card from target, walmart, or best buy the same as a bank's credit card? Does it raise your credit score? Is it better than a bank's credit card?|||Store credit cards are still issued by a bank. They are not owned by the store itself. In particular:





Walmart Card- GE Money


Target- Chase (I think)


Best Buy- HSBC/Orchard Bank or Discover, depending on card.





These cards are easier to get than a typical credit card because they carry higher fees and interest rates. If you use the card and pay it off in full every month or make payments as arranged under a financing agreement this will raise your credit score. Buying stuff you can't afford will trash you score just like any other card.|||Getting a credit card does not raise your score. Using the card and making on time payments creates good credit history. There really is not difference in how a store card or a bank card impacts your credit history.





However, bank cards usually have lower interest rates, higher limits, and can be used at more locations. A store card may be limited to just that particular store. Even if the store card has a major credit card logo, you will still have higher interest rates and may also run into the card be closed when that particular store decides to discontinue the contract with that particular financial group.|||I don't have anymore store cards, and I'm very happy without them! Their interest rates are often terrible, and many times you can only use it in that one store. Store cards do a have few perks, though, such as the fact that your credit score doesn't have to be that good to get one, and you might get some extra coupons and thing like that from them to keep your loyalty. Yes, responsible use of the store card might raise your credit score, but more than likely your limit won't be high enough to purchase much without maxing out the card, so on that point you'd be better off without it.


If by a "bank" issued card, you mean Discover, Chase, Citibank, etc., I'm not the biggest fan of them either. I prefer having a Visa or Master Card that's issued by my own bank or a credit union, as someone else suggested. When you do more business with your own bank, it enhances your relationship with that bank.|||I like bank credit cards more.


They have lower interest rates, in case you are ever stuck not being able to pay in full each month. Store cards carry nasty interest rates. Ex: Sears 27.99%


Also store cards tend to have lower available limits.


Some as low as $250 to start.


Any time you charge more than 30% of your available limit, your score starts reducing.


Ex: $250 limit, you should never touch more than $75 in usage


-- For best credit scores always pay your credit cards in full each month|||Getting a bank issued Visa or MC is better credit wise than getting a store card that is only good at that store. Those types of cards not only carry high interest rates, but are scored differently on your credit report. They are not looked upon as favorable credit.|||Getting a store card without a Visa or Mastercard logo will not help your credit score that much. You would be better off with out the card. See about joining a credit union %26amp; speak to them about a plan to build you credit history.|||Store cards have higher interest rates.


Why on earth would anyone trust a commercial organization over a respected bank|||They are easier to get, but not better. Their interest rate is never lower than 19% and can be as high as 24%