How To Get A Credit Card From A Retail Store

Oct. 24, 2011 - PRLog -- A department store credit card is a good choice for persons who seek to establish credit. These cards are not offered with lucrative terms in most cases, and it is not recommended to hold more than two cards.

Obtain an application for your card of choice. The first step is to visit the department store where you would like to have a credit card issued. Talk to their customer service and request a credit card application. In some department stores, customers apply for department store credit cards through a computerized terminal. Rather than submitting a paper application, customer service will direct you to such a terminal. You should fill out the required information in the appropriate boxes and blanks showing on the screen. You should enter your name, phone number and address, employment information, etc. Make sure the information you provide is correct as your application may be rejected.

The next step is to submit your application, and this depends on the department store - you either hand in a paper application to a customer service official or press the 'submit application' button. You have gone through the application process and should wait between 5 and 10 working days for notification on whether your credit card application has been approved or declined.

Once you have a retail store credit cards, you should watch your balance. It should not exceed 20 percent of your credit limit (http://www.creditcardreview.ca/Store--credit-card-reviews...). If your balance is higher, you will find it more difficult to pay it back, and it will have a negative effect on your credit score. If you have a store credit card with a credit limit of $400, your balance should not exceed $80. Make sure you pay your balance as required, and you will improve your credit score. In this way, you will avoid penalty interest fees and late fees.

Another point to remember is not to overcharge so that you get more cash back or gift certificates. Many department stores offer credit cards with rewards in exchange for charging purchases to the card. The truth is that in many cases, you will end up spending more money than rewards are worth it.

You should not charge items to your card before you have paid off your balance in full. Store credit cards are offered with high interest, meaning that carrying a balance can be quite costly. If you fail to pay the balance in full, the issuer will add charges to your outstanding balance. Do not charge any purchases to the card unless the balance is zero.

If your application for a department store credit card was rejected, consider applying for a prepaid Visa or MasterCard, as to build credit history.( http://www.creditcardscanada.net/ ) Many banks offer secured/ prepaid credit cards to their clients. You should have a savings account to get a prepaid card, so that you can deposit money in it. The card you are issued will be linked to the savings account. The money you can spend or your credit limit equals what you deposited into your account.

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Canadian credit card directory is listing credit cards offered by major Canadian banks and financial institutions, as well as credit cards offered by Canadian stores.
http://www.creditcardreview.ca/blog