SUZE ORMANS "STAY AWAY FROM STORE CARDS"

[Anonymous]

All of the above statements are correct. I have three store cards that I have had for a long time. I use them a couple of times a year to take advantage of the special offers that come around. On the other hand I see that store cards are usually easier to obtain than CC therefore I see them as a good way to help build ones credit score up to a level where they can start getting good CC offers. There are the usual traps that of high APRs and low CLs but now so long ago, I would have been happy to get a CC and the only people that would look at me was store cards.

A little good credit is always better than no or bad credit and if it takes a store card to get you to that point, then why not?

[marty56]

My Sams card is pretty useful.  It is good at Sams and Walmart, I can get $60 in cash with no fee.

High interest rate but I PIF now.

[Anonymous]

I saw it in her women getting rich book.  I would like a Kohl's card for their specials but don't want a hard inq for 200 cli.

Good input from you as always. Thanks.

[fishbjc]

casinoannie:  How do you know that your cl with Kohl's will only be 200?  I have processed app's that begin with $900..my own opened with $1500.   They're also pretty generous with cli.

I love the Macy's 10/20% as well.  If you PIF, what's the big deal about interest?  I especially love Lowe's for their 0% promotions along with Best Buy.

I'm going to start saving right now.....by not BUYING Suze's book.  The library is good enuf'.

[Anonymous]

My best buy store card has great benefits. No interest for 30 days, 90 days, or 6 to 12 months. Coupons all the time. If you use them responsibly I don't think it will hurt you but if you revolve giant, maxed out balances on any type of card it's not good.

[Anonymous]

I always bring this up-

A store or Gas card improves your insurance score.

Why- I don't know.

[smallfry]

I was under the impression a store card helped with your mix of credit. Am I wrong?

[Anonymous]

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Timothy wrote:

I always bring this up-

A store or Gas card improves your insurance score.

Why- I don't know.

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Hi Timothy ... what you mean by that?  ... insurance score?   I don't get it.

[Anonymous]

Credit card companies hate people like you and me Sylvia.  We ride out the no finance charge for 90 days clause and use the reward zone points to get some of our money back... I think we're the exceptions to this "no store cards" advice.  Especially how some of us use our Home Depot cards...

[Anonymous]

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@Anonymous wrote:

Credit card companies hate people like you and me Sylvia. We ride out the no finance charge for 90 days clause and use the reward zone points to get some of our money back... I think we're the exceptions to this "no store cards" advice. Especially how some of us use our Home Depot cards...

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LOLOL! Well I don't know about that, but it sure makes sense not to spend money when you don't have to.

I think people like us are looked upon as "deadbeats" by the ccc's, because they make very little money off us.