Clothing credit cards are specially designed for those customers who love fashion and spend a lot on clothing. These cards contain special discounts and exciting offers on clothing apparel. These credit cards are provided by the financial companies which offer the customer to borrow funds and are used by customers for short-term finance. The company offers a separate Line of Credit (LOC) to cardholders to borrow money. These cards have much higher interest rates as compared to other credit cards. The cardholders have to pay back the money to the company combined with the interest rate and extra applicable charges.
The Grace Period
According to law, the cardholders carry a grace period of at least 21 days and after that period interest on purchased items begins. Paying all the debt before 21 days is beneficial to the customers. It allows the customer to pay online or make online payments and eliminate the need to carry cash with them. If the cardholders carry a secure and responsible history of using cards can build up a strong score of credit and extend their Line of Credit. A majority of large businesses offer this facility to make payments through credit cards and it has become the most common and popular method of payment for the customers while purchasing goods and services. The credit card usually charges a higher amount of annual percentage rate (APR) as compared to other forms and methods of consumer loans.
Points that the customer should look at are –
1. First thing the customer should do is sign up the credit card from the Comenity or Synchrony. You mostly see a promotion like – signing up your credit card to save 15% off on your orders.
2. You have to hold out against the credit card offers because the points given in those offers are usually worthless.
3. There is not any specific card that avails offers on only clothes. The customer has to look for a card that offers him a discount on everyday purchasing items.
Major stores that offer clothing credit cards –
Some cards offer customers to save their money by using different discounts on clothing apparel. It makes everyday purchase much easier and more efficient.
Some stores that offer the clothing credit cards are below:
• Target,
• Walmart,
• Amazon,
• Best buy, and
• Costco
Best personal cards for shopping for clothes:
Chase Freedom Unlimited:
This card provides a great bonus on all categories of everyday purchases. It is a multi-purpose card. It gives 1.5% cashback on all purchases and it converts the cash back into reward points. Customers can also get benefits like an extended warranty, zero liability protection, and much more.
CITI Double Cash Card:
It is an average card for the average spending customer. It provides cash back earnings on everything.it gives the best rewards for everyday shopping, including clothing purchases. This credit card charges no annual fees.
Capital One Venture Rewards Credit Card:
It offers unlimited 2x miles every day, on every purchase and these miles do not expire for a lifetime and has no limit. There are no fees for foreign transactions. The annual fee is $95.
The Platinum Card from American Express:
This card is #1 for luxury travel benefits. This card gives unique travel and lifestyle perks. The card gives bonus points on like TUMI, Versace, or Gucci. On prepaid hotel bookings, this card gives 5x points per $1 with American Express travel.
Conclusion
The clothing credit card provides a lot of facilities to its customers. It can be both used as to a method of payment and credit borrowing. According to my estimates, 40% of customers holding credit cards do experience some monetary benefits. People with a low level of income use credit cards. On the other hand, people with higher income get the benefit of rewards. According to my analysis, most customers do not hold credit cards because of their suited patterns to perform money transactions.
Frequently Asked Questions:
1. Can I increase my credit limit?
If you are a customer for a long time, lenders will offer you a higher limit and if you accept this you have to spend a more payable amount on your credit card.
2. What happens if my credit card application is rejected?
If your credit application is rejected, you should try again and after that, you can contact the lender and he will check if there is an error on your report. If there are any errors, then they will suggest that you improve your score.
3. What fees do credit cards annually charge?
The amount of charge depends upon the type of your card. Some credit cards does not charge any fees while some have charges. You should check before you apply it.
