Retail credit cards can help rebuild credit. They report monthly to the major credit bureaus just like major credit cards. If managed wisely retail credit cards can put your foot back in the door of having good credit.

But don’t be in a hurry to get a retail card simply to save money at the register. Retail accounts typically have higher interest rates compared to major credit cards. You have to be smart about them and make sure you are able to pay on-time and preferably in full each month. Retail cards are attractive to consumers who need to build or rebuild credit because they are some of the easiest credit cards to get.

Here are 5 easy to get retail cards that can help rebuild credit:

WAL-MART CREDIT CARD

The Walmart card offers cardholders free monthly Transunion FICO score when you opt to receive electronic statements online. This is a great feature for anyone rebuilding their credit. When it comes to discounts, the Walmart Card offers little in the way of rewards but the store routinely has price rollbacks on selected items, last chance clearance items and values on electronics. Cardholders also have the option to withdraw up to $100 cash at stores when making a purchase. Unlike most credit card cash advances, the cash withdrawal only counts as a purchase, so no fees and no interest charges apply if the statement balance is paid in full by the due date.

KOHL’S CHARGE CARD

New Kohl’s customers receive a 15% discount on the first charge card purchase, upon credit approval. You’ll also receive a bonus 15% offer when your Kohl’s card arrives in the mail. Plus cardholders receive exclusive discounts of 30%. 20% or 15% at least 12 times a year. But the discounts don’t stop there. Cardholders who spend $600 a year or more at Kohl’s stores will become a Most Valued Customer (MVC) and receive at least 18 discounts a year.

FINGERHUT CREDIT ACCOUNT

Fingerhut is an online retailer that carries everything from electronics and furniture to clothing, bedding, and appliances. They have over 120,000 products across dozens of categories. In addition to carrying a variety of brand name products they provide an opportunity for consumers to build or rebuild their credit history. This is probably the easiest card to get approved for because the card is specifically designed to cater to consumers with poor credit. The best way to use Fingerhut is to pay in full each month to avoid paying interest and use discount codes to save money. Code NC801 will get you $50 off purchases of $200 and Code NC742 will get you $25 off purchases of $100. Fingerhut will give you an instant decision.

VICTORIA’S SECRET CREDIT CARD

The Victoria Secret Angel card is very easy to qualify for. But, the interest rate is quite high. If approved, the best way to use the card is to pay it in full each month. Cardholders do enjoy some exclusive benefits like a $10 Angel Reward for every 250 points you earn. Double points are rewarded to cardholders for purchases on bras. There is a chance to upgrade your status when 500 points are earned. Even more benefits are reserved for cardholders who earn 1000 points. If approved, your card will arrive with a $15 off coupon on a future purchase.

GETTINGTON CREDIT CARD

The Gettington credit card has a low APR making it easier to pay as you go, there is no annual fee or over-limit fee. Shop thousands of name brands with flexible payment options with your Gettington credit card. You can shop online for a variety of items: Kitchen, Bed & Bath, Furniture, Baby, Sports & Outdoors, Jewelry & Watches, Fashion and Electronics. Customers get free shipping and $25 off orders of $100 or more with a new Gettington Credit Account. Use promo code SHIPFREE25.  Get an instant credit response!

BEST WAY TO MANAGE REBUILDER CARDS

The key to establishing good credit or reestablishing credit is to keep your balances low. Retail cards typically start out with lower limits so it’s easy to max the cards out. Aim to keep your balances to less than 30% of your available credit limit. Credit scores suffer when balances are near the available credit limit. If possible pay in full each month to avoid paying high interest charges.

MAKE ON-TIME PAYMENTS

Once you get the retail credit cards it is vital to make your payments on time. Even one late payment will have a tremendous negative effect on your credit scores. Avoid late payments at all costs and monitor your credit scores so you will know where you stand at all times.

THE BOTTOM LINE

Be responsible. Your credit file is a snapshot of how well you can manage other people’s cash. Manage it well, and your future credit limitations will be very minimal.

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