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Could A Mall Pop Up Store Bring Down Your Credit?

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In the world of fast and easy banking, online shopping, and ‘need it now’ mentality, some stores are beginning to adjust how they do business. This ‘need it now and not later’ attitude of consumers has given rise to what is coming to be known as pop up stores. Like the firework shops and tents that appear around New Years and the Fourth of July, or the Christmas and Halloween shops that are open for only a few months of the year, these stores pop up and then are gone. There are some strong perks to these sorts of stores on the business end but many consumers wonder how safe the stores are and wonder if these pop up retail stores can hurt their credit.

Perks of the Pop Up Store

A growing number of retailers are getting on board with the idea of pop up stores. Target and Toys R Us are just two of the major chains that are setting up these stores in neighborhoods and malls across the country. The big push this year is the back to school sales and many of these stores will be closed once school has been back in session for a few weeks. These stores are typically found in small empty store lots in malls or strip shopping centers. They typically sell a smaller selection of products and are often focused on one type or aspect of their product line – home goods, clothes, back to school, toys, and so forth. They help the big retail chains get exposure and test areas outside their normal market to see if there is a possibility for a full store in the area. These pop up stores also save the stores money. According to a story in the Chicago Tribune “Retailers can save up to 80 percent by opening a pop-up instead of a traditional store, according to Storefront, a company that also connects pop-ups with real estate.”

Drawbacks of the Pop Up Store

One of the biggest drawbacks to these stores, in the eyes of customers, is the fear over security. There are many factors affecting credit scores and customers are leery about how secure these stores really are. It is a legitimate concern and here are some basic issues of concern you need to look for with the pop up stores:

1)Networks – Make sure the network the shop is using for their internet connection and credit card transactions is secure. If they are using a publicly accessible Wi-Fi provider then anyone could hack into the system and have access to the financial records of everyone who has made purchases at the store.

2) Point of Sale – Make sure that the POS systems used at the store are the same as what you would find at a regular store. The setup should be the same and the store needs to uphold the same standards in protecting your card information.

3) Employees – Pop up stores often employ temporary workers or day workers from an employment agency. Many are not fully trained and the risk for credit card misuse and breaches in security are more likely.

Importance of Credit Checks

It is a sobering realization that for something as important as your personal credit score, most people really do not know what it is or what the true importance of it is. In fact, it is becoming more and more common to find individuals who either do not know their credit score or who do not know what it means for them financially. People need credit scores explained to them in a way that they can understand and in a way that makes them realize how truly important it is. There are many myths and misconceptions that revolve around credit scores and credit reports. For people to fully understand the importance of the three digit score, they need to see what impact it has on their financial future, and the best way they can get started on this is to do a credit check and begin learning what the numbers mean.

Not all pop up stores are bad and not all should be avoided. There are just certain things that you need to look out for. You do not have to avoid all pop up stores; it just means you as a consumer need to take some responsibility to ensure your financial information is kept safe when visiting these stores. Many business, corporations, and even pop stars are jumping on the bandwagon of pop up stores. Pink recently opened a pop up store in Australia. The important thing, regardless of who is opening the store, is that security is their primary concern.

The post Could A Mall Pop Up Store Bring Down Your Credit? appeared first on Credit Data.


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