Retail store credit cards provide a nice gateway to building credit, especially since many Lenders that issue retail credit cards have looser credit standards than the major commercial banks. Many bigger commercial Lenders like Chase, Citibank, Bank of America, etc. have tightened their credit standards for lending and will maintain this status quo for at least a couple years into the 2020 decade with interest rates bottoming at historic lows.
This video shows how Consumers can use Retail Store Credit Cards to establish or rebuild credit by using the looser credit standards to their favor in getting approved for such cards. Then using these Retail Store Credit Cards in the right way to maximize the #PaymentHistory factor of their credit score to boost it as much as possible with timely payments and low reported balances.
It's not difficult to establish your credit history using Retail Store Credit Cards and many of them will report credit activity to all 3 Consumer Credit Reporting Agencies. It possible to get a Retail Store Credit Card upgraded to a Visa, Mastercard, or American Express version which opens more possibilities for using the card to further your credit endeavors. There is no "One Store Above All" card to apply for. Many of these Retail Store Credit Cards give the same credit-history-building benefits as Chase Sapphire Visa or American Express Platinum and so on because they report the the credit bureaus just the same. Funny thing about Retail Store Credit Cards is that many of them are issued by these same bigger commercial banks. So opening a few Retail Credit Cards can open the door to more opportunities later.
This is why Retail Store Credit Cards are worthy credit option for Consumers will no credit or rebuilding credit. Many of these Retail Store Credit Cards comes with very low limits or outrageous interest rates. This is not a problem and I discuss how to cope with these terms in this video.
For more information on how to still achieve a high #CreditScore with a low #CreditLimit see Screaming Lincolns video HOW TO GET HIGH CREDIT SCORES WITH LOW CREDIT LIMITS 2020:
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Got a question? Don't be shy! Hit me up in the Comments anytime!
What are you waiting for???
~Cap
DISCLOSURE: The information in this video is not financial advice and is for informational purposes only. Please consult a licensed finance professional or credit repair specialist for more detailed information as needed.
