If you have no credit and are looking to build up your credit score, do consider getting a store credit card.  They’re usually not as difficult to secure as regular credit cards, while potentially helping your credit ratings to experience a boost.

As far as we can tell, the easiest way to build up your rating is by having two to three revolving credit accounts.  Store credit cards do qualify as a revolving credit account.  If you can acquire one or two of these, along with a secured credit card (or a student credit card, if you go to college), you should be well on your way to building your credit history.

Exercise Restraint

Now, when you do get a couple of store credit cards, don’t go all out shopping with them.  Sure, it’s tempting to buy a new wardrobe with your Gap store credit card or stock up on tools with your Target credit card, but it won’t be the way to make your pristine credit record stick.

In truth, many store credit cards offer lousy deals.  Plenty of them pack on high interest rates, sometimes going as steep as 17%.  Despite offering rewards (such as a $25 certificate when using your store credit card for purchases of up to $500), they’re terrible when put side by side with many credit card offerings.  Keep them as a way to build your credit, occasionally using them for a few small purchases, but no more than that.