Department store cards are a convenient line of credit that allows you to make regular purchases, and the occasional large purchase, through the use of a credit building department store card. These cards are a great way to take advantage of different offers, sales and discounts that are only available to cardholders. These are also a great way to build credit, or to make purchases that can easily be paid off, in full, before the end of the grace period.
Nordstrom is a popular department store that offers a traditional department store card. This card has special perks, as cardholders are privy to special discounts, deals and sales that non-cardholders do not qualify for. It also makes department store purchases convenient and easy to budget for.
Credit score requirements are not generally as stringent with department store credit cards, as they are with traditional credit cards. This means that younger people looking to build credit, or those looking to try to rebuild credit, often look towards these types of cards. If they are only used for small purchases that can easily be repaid, this is a great way to build or improve one’s credit score.
To qualify for a Nordstrom card, you need to have fair, good or excellent credit. While there is no minimum credit score required to apply for a Nordstrom department store card, it is generally recommended that your score be at least 684 or higher, and that there are no negative judgments or defaults on your recent credit history.
The credit line you are extended and the interest rate you receive will be dependent on both your credit score and credit history. The better your credit score, the higher your limit will be and the lower your interest rate will be. Interest rates for this card range between 10.99 to 20.99%, and this is a variable interest rate. Those with lower credit scores will receive a lower limit and be in the higher interest range bracket.
This is one of the better department store cards as the interest rates are far more favorable than many other department cards. Many have a flat interest rate that, no matter what your credit score, you will be charged. With a Nordstrom card, your interest rate is commiserate with your credit score. This makes it a more attractive option than many other department store cards, as the interest rates are fair, and you still get to take advantage of the cardholder perks.