You may have heard all the reasons why you shouldn’t apply for a store card. Usually, these reports are the result of a few people making irresponsible decisions with money. While there certainly are some legitimate concerns surrounding the use of any form of credit, for the most part, store cards have gotten a bad rap and there are definitely more than a few situations in which they can actually be pretty great. 

Here are three reasons to apply for a store card:

Build or Rebuild Credit

If you are a new credit user, or someone with poor credit, a store card (such as the Walmart MoneyCard) can be an excellent way to build or rebuild your overall credit score. A card like this is more easily accessible to those with no or bad credit than a standard credit card. Often times, the biggest problem that someone who is trying to improve their credit can face is simply obtaining a card in the first place. A store card is a good option for those who are unlikely to be approved elsewhere.


Store cards can often carry a lot of perks. Many stores provide special shopping days and exclusive discounts to cardholders as a way to encourage them to shop more. In many instances, the savings that cardholders receive may equal or exceed their interest rates, rendering the store card a good investment overall.

Perks can also come in the form of cash-back rewards, which are sometimes offered to store card-holders who keep exceptionally good credit or are dependable spenders.

Special and One-Time Purchases

A store card can be useful if you need to purchase a large item at a store that does not offer layaway. A store card is in fact useful for those who need to purchase an item that is out of their current price range. However, it is crucial that the minimum payment is made every month to avoid being hit with late fees or experiencing a drop in your credit score.

Remember that a store card is ultimately just like any other credit card. Store cards are reported to credit reporting agencies, and it is necessary to make all of your monthly payments on time. If you use your store card wisely, however, it can ultimately be very beneficial to you as a consumer.