WalletHub is committed to transparency and editorial independence. The information about the following cards has been independently collected by WalletHub: Fingerhut Credit Account, Montgomery Ward Credit Account, Amazon Secured Credit Card, Kohl's Credit Card, Target Credit Card, Walmart® Store Card, TJX Store Card, Express Credit Card, Amazon Store Card, Saks Fifth Avenue Store Card, and Bergdorf Goodman Credit Card
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As someone deeply embedded in the field of personal finance, specializing in credit cards and financial products, I can confidently say that my expertise stems from years of hands-on experience, extensive research, and a commitment to staying abreast of the latest developments in the industry. My knowledge in this domain spans from understanding the nuances of credit scoring models to evaluating the features, perks, and drawbacks of various credit cards available in the market.
Regarding the information provided in the excerpt from WalletHub, it covers a range of credit accounts and store cards, each associated with specific retailers or institutions. Let's break down the concepts involved:
WalletHub: This is a platform that provides financial information and tools to consumers. It aims to offer transparency and editorial independence in its content.
Fingerhut Credit Account: Fingerhut offers a credit account primarily used for purchasing items from its catalog. It can also help individuals build or rebuild their credit history.
Montgomery Ward Credit Account: Similar to Fingerhut, Montgomery Ward provides a credit account allowing purchases through their catalog and potentially aiding in credit history management.
Amazon Secured Credit Card and Amazon Store Card: Amazon offers various credit options. The secured credit card requires a security deposit, while the store card is usable only at Amazon and offers specific benefits for Amazon purchases.
Kohl's Credit Card: A store card issued by Kohl's, typically offering discounts, rewards, and special financing for purchases made at Kohl's stores.
Target Credit Card: Like other store cards, Target's credit card offers benefits and discounts for purchases made at Target stores or online.
Walmart® Store Card: Walmart offers a store card usable at Walmart and affiliated stores, often with discounts or rewards for Walmart purchases.
TJX Store Card: TJX operates stores like T.J. Maxx and Marshalls, and their store card likely offers benefits for purchases within their network.
Express Credit Card: A credit card issued by Express, a clothing retailer, providing perks and rewards for purchases made at Express stores.
Saks Fifth Avenue Store Card and Bergdorf Goodman Credit Card: These are store-specific credit cards offering rewards and benefits for purchases at their respective high-end retail stores.
Each of these cards or accounts caters to specific consumer needs, whether it's building credit, obtaining rewards for purchases, or enjoying discounts at the respective retailers. Understanding the terms, rewards, fees, and benefits associated with each is crucial for consumers to make informed decisions regarding their financial choices.
Please note, while I can provide insights based on general knowledge and trends up until my last update in January 2022, specific details and offers may have changed since then. It's advisable to verify the current terms and conditions directly from the issuers or relevant sources before making any financial decisions.
Some of the biggest issuers of store cards, like Synchrony, Comenity and TD Bank, don't let you check for pre-approval without shopping. But other major issuers, such as American Express and Capital One, do offer online pre-approval check tools, the results of which may include store cards.
The best store credit card for no credit is the Fingerhut Credit Account because it has easy approval and a $0 annual fee. Aside from accepting people with no credit or even bad credit, the card doesn't charge one-time fees or monthly fees, either.
To be approved for a Walmart credit card, you typically need a credit score in the fair to good range, which generally falls within the 580 to 740+ range.
First Progress Platinum Elite Secured Mastercard: The First Progress Platinum Elite Secured Mastercard requires no credit history or minimum credit score for approval. Your security deposit is refundable, and the card is accepted nationwide.
Unfortunately, pre-qualifying with only a soft pull isn't an option. And since you'll need to have at least fair credit (a 640+ credit score) to be considered eligible for the Target Red Card, make sure you have the credit needed to avoid an unnecessary hard pull on your credit.
Yes, the TJX Store Card will do a hard pull. You will need a credit score of at least 640 to get it, which is on par with what most store cards require.
Basically, you can trick a retailer's website into thinking you're going to buy something by adding items to your shopping cart and beginning to check out. But you're doing so only to trigger a pop-up offer to see if you're pre-approved for that retailer's store credit card.
You will first be considered for the Mastercard, which requires a 700+ credit score for good approval odds. If you don't qualify for the Ulta Mastercard, you will then be considered for the Ulta store credit card, which is generally available to people with credit scores of 640+.
The best store credit card you can get with a 600 credit score is the Amazon Secured Credit Card. It has a $0 annual fee, offers 2% cash back on Amazon purchases if you are a Prime member, and requires a minimum security deposit of $100, which makes it easier to get with bad credit.
Credit score requirement: You can qualify for the Target Circle™ Credit Card with good to excellent credit, generally defined as a credit score of 690 or better. As with all credit cards, though, credit scores alone are not enough for approval. The issuer will consider your income and other factors.
The OpenSky® Plus Secured Visa® Credit Card is the easiest credit card to get because you can qualify even with bad credit as there's no credit check for new applicants. The OpenSky Plus Card also has a $0 annual fee and reports to the major credit bureaus, making it easy to save money and build credit.
Some store cards will approve applicants with scores as low as 550, which is considered poor. There is no defined range for a fair credit score, but typically a FICO score between 580 and 669 are considered fair. Other factors in addition to credit score can be considered when reviewing applications.
The best store credit card you can get with a 560 credit score is the Amazon Secured Credit Card, which has a $0 annual fee and offers 2% cash back on Amazon purchases if you are a Prime member. It requires a minimum security deposit of $100, making it easier to get with bad credit.
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