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.
[I]f you have been shopping for a home or just learning about what it takes to get a home loan, you probably already know the importance of a good credit history. Along with this important piece of the puzzle are other factors that you want to consider. Inconsistent Income While you may average out your […]
[H]aving no credit is almost as bad as having bad credit. Many creditors are unwilling to lend to you if you have no credit history, but you can’t establish a credit history if no one will take a chance on you. This catch-22 can leave you feeling frustrated, but don’t worry. There are ways of […]
[I]f you are working to improve your credit score, you know how difficult it is to see major changes. Your score may go up three or four points and then back down. You may pay off a small credit card and expect to see a new number, but it only improves by 10 points. If […]
[E]ven though you can use credit and debit cards in most of the same places, but that doesn’t mean they are the exact same. There are several differences between the two that you need to be aware of. Fees and Balances A debit card is linked directly with money in your bank account. You can […]
[I]f you have been working to improve your credit so that you can buy a home, you have probably been watching the news reports about credit changes closely. Just a couple of years ago, you couldn’t purchase a home at all with most lenders if your credit score was below 640. With the economy improving, […]
[M]ost people never check their credit score or only check it occasionally. While you see many advocates for regular credit checks or signing up with a credit monitoring program, there are plenty of times when you won’t have to worry about your credit. However, that doesn’t mean you should ignore it completely. Here are the […]
[S]tarting a new business is an exciting but often scary idea. If you have bad credit, you may find it is even more difficult. If you need to fund your new business with inventory or capital, you may discover that getting a loan is almost impossible. However, alternatives are available to help you get the […]