Department Store Credit Cards For Poor Credit

Are you struggling with poor credit but find yourself in need of a department store credit card to help with purchases or even rebuild your credit? Fret not, as there absolutely are options available for you! In this article, we at Flik Eco will guide you through some of the best department store credit cards that cater to individuals with poor credit. We'll also throw in some handy tips on how to use these cards to improve your financial standing.

Why Consider a Department Store Credit Card?

Department store credit cards can be beneficial for individuals with poor credit, as they often have less stringent application requirements compared to general credit cards. Though these cards typically have lower credit limits and higher interest rates, they can provide invaluable assistance in rebuilding your credit score when used responsibly. Here are a few reasons why you might consider applying for one:

• Convenience: Department store cards allow you to shop at your favorite stores and enjoy exclusive discounts.
• Improve your credit: By using the card responsibly, making on-time payments, and keeping your balance low, you can demonstrate good credit behavior and eventually improve your credit score.
• Easy approval: Most department store credit cards have more lenient approval criteria than traditional credit cards, making them accessible to people with poor or limited credit history.

Best Department Store Credit Cards for Poor Credit

Here is a list of some great options to consider if you have poor credit:

Fingerhut Credit Account

Fingerhut is an online retailer that offers a credit account specifically designed for people with poor credit or no credit history. They report your payment history to all major credit bureaus, helping you rebuild your credit over time.

• No annual fee
• Low credit limit, but may increase with responsible use
• Regular reporting to credit bureaus

Capital One QuicksilverOne

While this card is not technically a department store credit card, it is a great option for individuals with poor credit. It offers flexible spending options, cashback rewards, and can help rebuild your credit by reporting your payments to the major credit bureaus.

• $39 annual fee, but offset by its cashback rewards
• 1.5% cashback rewards on all purchases
• Regular reporting to credit bureaus

Secured Credit Cards

Secured credit cards are a viable option if you have poor credit and want to rebuild it. These cards require a deposit as collateral, which will be refunded when you close the account or upgrade to an unsecured card after demonstrating responsible usage. Some examples include the Discover it Secured Card and the Capital One Secured Mastercard.

• Refundable deposit required
• Opportunity to upgrade to unsecured card
• Regular reporting to credit bureaus

Department Store Credit Cards For Poor Credit Example:

Meet Sarah, who has poor credit after losing her job and missing a few credit card payments. She decides to apply for a Fingerhut Credit Account to help her rebuild her credit. Over time, she uses her credit account to make small purchases, paying off the balance in full each month. After a year of on-time payments and responsible usage, Sarah notices her credit score has significantly improved, opening up the opportunity for her to apply for a more traditional credit card with better benefits.

Now that you're equipped with the knowledge of some great department store credit cards for poor credit, it's time to choose the best option for you and begin your journey to financial stability. Remember, the key to success is responsible credit usage and timely payments. With time, patience, and determination, you can improve your credit and take back control of your financial life. Found this article helpful? Don't forget to share it with your friends and explore other informative guides on Flik Eco!