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What is a “retail revolving account,” and does it improve my credit score?
A retail revolving account is essentially a credit card offered by a store (or chain of stores) and usable only at that store. In my area, the Sears department store's "Sears card" would be a good example. Stores offer these to capture a bit more profit from the transaction. They don't have to pay someone else's processing fees, and they get to keep any interest you pay. Of course they also accept the costs that go along with retail lending. It operates just like any other revolving-credit card. Read the fine print of the agreement to see what the grace period is, if any, and what APR they're charging after that. These cards also serve as a marketing tool. Some stores don't accept any other card. Some can do "instant approvals" to encourage you to make a large purchase now rather than continuing to shop around. Some may offer special deals only if you use their card -- I paid 0% interest for a year on my refrigerator, which was convenient for me. And so on. Gasoline stations also used to offer their own cards... though these days it's common for them to offer a branded version of one of the major credit cards instead.