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                                                                       EXHIBIT 5


                                February 20, 2001


Board of Directors
The Credit Store Inc.
3401 North Louise Avenue
Sioux Falls, South Dakota 57107

Ladies and Gentlemen:

               In connection with the proposed registration under the Securities
Act of 1933, as amended, of shares of Common Stock of The Credit Store, Inc, a
Delaware corporation (the "Company"), offered and to be offered pursuant to the
terms of the Non-Qualified Stock Option Agreements dated as of December 15,
1997, by and between the Company and each of Avrom S. Waxman and Robert M. Stata
(collectively, the "Option Agreements"), we have examined the Company's Amended
and Restated Certificate of Incorporation, its Amended and Restated By-Laws, and
such other documents, including the Registration Statement on Form S-8, dated
the date hereof, to be filed with the Securities and Exchange Commission
relating to such shares (the "Registration Statement"), and have reviewed such
matters of law as we have deemed necessary for this opinion. Accordingly, based
upon the foregoing, we are of the opinion that:

               1.     The Company is duly and validly organized and existing and
in good standing under the laws of the State of Delaware.

               2.     The Company has duly authorized the issuance of the shares
of Common Stock which may be issued pursuant to the Option Agreements.

               3. The shares which may be issued pursuant to the Option
Agreements will be, upon issuance, validly issued and outstanding and fully paid
and nonassessable.

               We consent to the filing of this opinion as an exhibit to the
Registration Statement.

                                       Very truly yours,

                                       /s/ Faegre & Benson LLP

                                       FAEGRE & BENSON LLP