What are store cards?
Store cards are cards which allow you to buy things from stores with certain perks.
Store cards are a type of credit card that are usually offered by specific brands which you can usually only use within that brand.
Store cards allow you to spend money on a particular store in exchange for discounts, perks or points. You can then pay the money you have spent back over a given period.
Store cards will usually charge you interest as they are essentially a lending facility. This means any balance you carry on your store card will have an interest charge attached to it.
A list of store cards in the UK
Allders Store Card Creation Financial Services
Ann Summers ….Creation Financial Services.
Argos Home Retail Group
B&Q Account Card HFC Bank
Brantano Store Card Creation Financial Services
Coast Card Ikano Financial Services
Dorothy Perkins Santander
Duet Duet Storecard Creation Financial Services
Edge Card Santander
Focus Focus (DIY)Creation Financial Services
Fortnum & Mason Fortnum & Mason Plc
Homebase Home Retail Group
House of Fraser Recognition Account Card Santander
IKEA Home Ikano Financial Services
Jaeger Store Card Ikano Financial Services
JJB JJB Sports Creation Financial Services
Joplings Store Card Creation Financial Services
Karen Millen Ikano Financial Services
Laser UK Laser Creation Financial Services
Laura Ashley Santander
Lewis’s Creation Financial Services
M&Co. Store Card Creation Financial Services
Miss Selfridge Santander
Nevada Bobs Creation Financial Services
New Look Card Ikano Financial Services
Oasis VIP Ikano Financial Services
Owen Owen Creation Financial Services
Quiz Store Card Creation Financial Services
Robbs Store Card Creation Financial Services
Russell & Bromley Santander
Selfridges Store Card Creation Financial Services
Topshop and Topman Santander
USC Store Card Creation Financial Services
Vergo Store Card Creation Financial Services
Warehouse Card Ikano Financial Services
Disclaimer: some of these cards may no longer bein the market.
Benefits of store cards
Store cards have been known to be much easier to get than other credit cards
Store cards may offer you a discount for shopping with them
Store cards may offer other rewards such as points that could convert into points for shopping with them
Disadvantages of store cards
Store cards could have high APRs and in some cases much higher than traditional credit cards
Store cards usually only let you shop in one type of store
What fees do store cards have?
Store cards have the same sort of fees as other credit cards, they include:
Fees for going over your credit limit
Fees for late or missed repayments
Fees for withdrawing money from the ATM
Fees and interest charges for carrying a balance from one month to the other on your store card
what sort of incentives could store cards have?
The incentives store cards could have include:
Discounts on shopping when done in the brand’s store
Loyalty points which you can redeem for money or another item at the store
0% interest charges for your first few months
Store cards may not be the best option out there as 0% purchase credit cards may have more competitive rates and will allow you to shop in any store you want to shop in.
If you need financial advice and you live in the UK then you could contact the Money Advice service over the phone or via chat for impartial advice.
You can also contact the debt charity “Step Change” if you are in debt and need help.