Are Department Store Credit Cards Easy To Get With Bad Credit?

Bad Credit And Credit Cards

If you have poor credit or no credit at all you may realize something by now: those advertisements for low APR credit card offers in your mailbox were not meant for you to open.  The truth is those deals are for those who enjoy high credit ratings, typically at a minimum 600 score or better.  For the rest of us, there are two credit score groups remaining: average to poor APR percentage credit card offers (these are easy to identify: they usually carry an APR of 15% or more), and no credit card offers at all.  If you find yourself in either of these groups, don’t worry.   There are other ways to get the credit you deserve.  One option that is excellent for those with low or below average credit scores is a department store credit card.  These cards can be from large department stores like Mervyn’s or Home Depot, or from smaller local stores that oftentimes will offer them as well.  They have their advantages: they are easier to get than a regular credit card.

Why Are Department Store Credit Cards Easier To Get?

The answer is simple.  With a department store credit card, the issuer is 100% sure where exactly it will be that you make your purchases: in their own stores.  This is because a department store credit card will only work to charge items within the issuing store(s).  Meaning everything you buy will be from them.  This is a good deal for the store and a safer bet for the credit lender, usually a lending department within the department store itself.  The advantage to the department store lending wise is they are taking a risk on a client who will buy their products.  In case of a default, the store at least makes a profit in the sale of the item you purchased.  In best cases, you pay your bill and the company wins on both ends: they make money when they make a sale to you, and they also make money off the interest of the card, their card, that you made the purchase with. The odds are just too good to resist for department stores, so the department store credit cards are given a lenient acceptance policy.  This means even if you have poor credit or no credit at all, you can still most likely get accepted for your very own department store credit card.

Related posts:

1. Can You Get A Department Store Credit Card With Bad Credit?
2. Will A Department Store Credit Card Help My Credit?
3. What If You Default On Credit Cards And Loans, But You Are Still Spending On Other Credit Cards?
4. What Is The Consequence Of Default On Credit Cards?
5. How To Consolidate Credit Cards