Anyone avoid store cards?

[acciofirebolt]

I try to aviod them and make up an excuse as to why I can't everytime I'm asked if I want to open one. The only one I've been tempted to get is the Amazon store one but since I'm a AU on my mom's Chase Amazon card I don't feel like I need one as much. I'm also a AU on my mom's Macy's Amex and I also get to use the store account, so technically I have a store account but I rarely use it.

[Anonymous]

I like certain ones that I do shop at.  Not to mention they do give you some good promos if you need them for larger purchases.  I have some I know I don't really need or want.  Getting ready to close those down.  Only used them in the beginning to padding on my ut.

[Anonymous]

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@longtimelurker wrote:

Although I don't have any store cards (well, Target debit), I think they should be viewed with the same criteria as any other credit card, i.e. "Given my spending patterns, does this card give at least as much reward as any other card I could reasonably expect to get"  (where "rewards" can be interpreted as you choose)

Now a lot of people here have used the SCT, and this helps give store cards a bad reputation, as people get cards for stores they never go to.    If a store card gives good discounts, or special treatment (early access to sales etc) and you plan to pay in full, it may well make more sense than using a general cc.

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I have a few cards, some (probably all) picked up before coming here.  Ironically, I came here, tried the SCT, and was (luckily) unable to get anything to pop up before I came to my senses.

I have some that aren't very useful:

a couple of gas cards (picked up before I got the Sams MC with the 5% back on gas)

Hot Topic (got it because I have a friend who manages a HT, and he needed to meet his app goals - I was disappointed in the $800 SL, he was shocked that anyone got that high a SL...still the highest SL he's seen)

GameStop (I kept getting preapproved offers, but couldn't get the app to go through when I tried it.  I walked away, and thought it was good that I didn't get it, but eventually it became my White Whale, where I was determined to get the app to go through)

any of these could go away, and I wouldn't lose much sleep.

And some that are extremely useful, at least in a limited way:

Lowes, Walmart and Best Buy (I have them SOLELY for the 0% deferred interest...if I buy something that I'm not getting deferred interest on, I will use another card)

JCP and Kohls for the great discounts (also, with Kohls, I get free shipping with no minimum purchase)

Oh, I just checked, and I picked up an Ashley Furniture card, again for the 0% interest.  I got it when I was looking for some furniture, and ended up buying elsewhere.  They did have one item that I wanted recently, so I got it because they have 12 month deferred with no minimum.  Paying just the minimum amt due will have it paid off WELL before the deferred period ends.

But other than that, I have come to my senses, and will only be getting MC/Visa/etc from now on.

[Anonymous]

I think store card is only good for first time use where you get 10% discount. Some store card have 5% discount every time you use it too but that's about it

[xvassagox]

My wife has a Target Red Card for the 5% off. I'll be app'ing for the Amazon Prime card once the Forward gets nerfed. Other than that, I'd apply for any store card that offers me 0% deferred interest on a large purchase (Ashley Home Furniture, Sears)

[someg33k]

During my prime rebuilding time I loved store cards. Have since killed off all but a couple and only kept ones that offer zero percent financing. Lowes and Amazon is all I have left. Maybe next year when we buy a new house I'll get a Pottery Barn for furniture and take advantage of special financing.

That's not to say that the right store card could not be useful to the right person. If you spend a ton with a store that is generous with rewards points maybe it makes sense. But not typically the case.. Usually better off using a cash back VISA/MC.

[Anonymous]

I am a firm beleiver in the difference between savings (a marketing term) and saving (not spending my hard earned money) and for that reason I have several store cards that I use on a regular basis;

• Target - 5% off, free shipping
• Kohls - Frequently 10% higher discount than paying with something else.
• Old Navy - Extra discounts (because its easier for them to track your purchases you get extra offers)
• VS - Same as old navy
• JCP - Same as Old Navy but also most of the time get 20% off purchases instead of 15%
• Phillips 66 - I wanted this card specifically because the gas station near my home offers the card holders the "cash" price (about $0.05 cheaper per gallon) and then you get $0.05 per gallon in rewards (.10 for the first 90 days). They also work with the Kickback rewards card but I don't put a lot of value on that. With gas being less than $1.95 per gallon where I am getting at least $0.10 off, 3% is only $0.058. I know that's splitting hairs but it all adds up.
• Amazon - Im an Amazon addict so the discount pays off.

I am also of the opinion that it makes things like returns easier. I know that if I bought it then I put it on my Target card rather than having to look through all of my other cards to find it. Of course like others have said its only worth the effort if you PIF.

[Anonymous]

Store cards are really only useful if you shop at the merchant enough.  In many cases being a card member is the only way to get access to the best sales.  A few months ago Nordstrom invited me to a catered party which was actually quite nice.  Not only did it provide access to a great sale, but the alcohol was top shelf and the h'ordeuvres were fantastic.  They also comp your alterations (saved me $100 when I treated my mom to a shopping spree for mothers day), provide a Visa Signature card, as well as tripple points days to declare on your own, and a bunch of other features.  

Not every store card gives good benefits.  Though I've really enjoyed my high end cards for the perks they afford me.

[EdMan63]

I only have one store card. Its a Macy's card and its my second oldest card at 21 years of age. The the only reason I keep it open is to pad my AAoA. I really have no use for it and will probably close it at some point once my newer stuff ages a bit more. I really see no need for store cards unless you shop at a particular store an awful lot to make it worthwhile over a standard reward card. 

[Anonymous]

-Encourages me to spend more
-Ties up available credit capacity that I can only use in one place
-Eww those APRs
-Spreads points too thin

JCB is good enough for general spend, and I'm not a loyal customer anywhere anyway