How Does an In-house Credit Card Work?

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What an In House Credit Card Is

  • An in-house credit card is just like all other credit cards except you can only use it at one place. Most womens clothing stores have their own credit card and you can only use it in their stores. They may have stores all over the country and you can use it in any of them, but you can't use it at your local grocery store. Many retailers have gone to in-house credit cards due to the fact that major credit cards charge them a fee every time you use one in their store. They can also reap the benefits of the interest and fees they charge the consumer.

Why use an In-House Credit Card

  • Many people don't like to have major credit cards. It is too tempting to overspend their budget and get into debt. However, if there is a place they shop on a regular basis, they can get an in-house credit card and use it to get special deals, coupons and percentages off their purchases. You can also ask them to keep your limit at a certain number if you're trying to cut down on debt. It's also an easy way to budget because you know what you're payment will be.

How do I Get an In-House Credit Card

  • Most retailers will ask you if you want to apply when you are checking out at their store. You fill out an application or answer a few question and they electronically file it and you either get approved or denied. This is based on your credit score. You can also go to their site online and fill in an application. The process usually only takes minutes and you get an instant answer. If you are approved, you can decide if you want to be billed through the mail or online. Then you go shopping.

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