Saks Card...Is it Good?

Repairman · ‎09-01-2015

I'm thinking about the possibility of apping for a Saks card, and am just curious from those who have it, whether you think it's a good card to have. Are the benefits good enough for a shopper of the store or am I just as good jsut using something like my Quicksilver when shopping at Saks? Are there any real advantages to having the Saks card?

Anonymous · ‎09-02-2015

While I can't speak to the Saks card specifically, as I have Neiman Marcus and Bloomingdale's cards instead, I can tell you that the interest rate on all store cards is very high, including on the Saks card. If you plan to use it and PIF that will not be an issue, but if you carry any sort of balance, it will be expensive to do so.

FinStar · ‎09-02-2015

@Repairman wrote:
I'm thinking about the possibility of apping for a Saks card, and am just curious from those who have it, whether you think it's a good card to have. Are the benefits good enough for a shopper of the store or am I just as good jsut using something like my Quicksilver when shopping at Saks? Are there any real advantages to having the Saks card?

The better advantage would be if you get approved for the Saks WEMC. The store card by itself may not provide much in the sense of overall benefits unless you shop at Saks, Saks.com or Off 5th very frequently. I have the WEMC and it's a pretty decent card benefits-wise.

If you review their benefits/perks via the links below, perhaps this can give better perspective on whether it may be suitable for you:

http://www.saksfifthavenue.com/SaksFirst/store_card.jsp

http://www.saksfifthavenue.com/SaksFirst/world_elite_mc.jsp

CreditCuriosity · ‎09-02-2015

Didn't know this was a Cap1 backed card.. Interesting

kdm31091 · ‎09-02-2015

Like any store card, it's really only going to be beneficial if you shop there often.

Repairman · ‎09-02-2015

@FinStar wrote:
@Repairman wrote:
I'm thinking about the possibility of apping for a Saks card, and am just curious from those who have it, whether you think it's a good card to have. Are the benefits good enough for a shopper of the store or am I just as good jsut using something like my Quicksilver when shopping at Saks? Are there any real advantages to having the Saks card?
The better advantage would be if you get approved for the Saks WEMC. The store card by itself may not provide much in the sense of overall benefits unless you shop at Saks, Saks.com or Off 5th very frequently. I have the WEMC and it's a pretty decent card benefits-wise.

If you review their benefits/perks via the links below, perhaps this can give better perspective on whether it may be suitable for you:

http://www.saksfifthavenue.com/SaksFirst/store_card.jsp

http://www.saksfifthavenue.com/SaksFirst/world_elite_mc.jsp

DO you have to apply for the cards seperately? I've heard of people applying to the store card, then having to upgrade to the other? Can you just apply for the MC right from the start?

FinStar · ‎09-02-2015

@CreditCuriousity wrote:
Didn't know this was a Cap1 backed card.. Interesting

Yup, they were acquired from the HSBC Private Label portfolio. Neiman Marcus, Menards are a few others were part of that same portfolio. Best Buy was also acquired by Capital One but subsequently went to Citi.

FinStar · ‎09-02-2015

@Repairman wrote:
@FinStar wrote:
@Repairman wrote:
I'm thinking about the possibility of apping for a Saks card, and am just curious from those who have it, whether you think it's a good card to have. Are the benefits good enough for a shopper of the store or am I just as good jsut using something like my Quicksilver when shopping at Saks? Are there any real advantages to having the Saks card?
The better advantage would be if you get approved for the Saks WEMC. The store card by itself may not provide much in the sense of overall benefits unless you shop at Saks, Saks.com or Off 5th very frequently. I have the WEMC and it's a pretty decent card benefits-wise.

If you review their benefits/perks via the links below, perhaps this can give better perspective on whether it may be suitable for you:

http://www.saksfifthavenue.com/SaksFirst/store_card.jsp

http://www.saksfifthavenue.com/SaksFirst/world_elite_mc.jsp
DO you have to apply for the cards seperately? I've heard of people applying to the store card, then having to upgrade to the other? Can you just apply for the MC right from the start?

Yes, you can apply for the WEMC at the store (not sure if there's an actual online application for the MC). You will be considered for WEMC first, then Platinum MC and then the store version (depending on your creditworthiness). If you get approved for the store version, you can eventually upgrade to WEMC down the road once your overall profile becomes eligible.

ETA: I was approved for the WEMC several years ago while shopping at the Chicago (Michigan Ave) store. You can also use the card (store or WEMC) at any of their outlet stores.

CreditCuriosity · ‎09-02-2015

@kdm31091 wrote:
Like any store card, it's really only going to be beneficial if you shop there often.

Oh I wouldn't apply for it.. Nice looking card though. Just interesting Cap1 backs it. Didn't know HSBC as finstar stated it backed it prior. Looks like HSBC wanted mainly out of the US CC market at least with store cards and sub-prime. Still a small presence with CC's, nothing like they use to be

Repairman · ‎09-02-2015

@FinStar wrote:
@Repairman wrote:
@FinStar wrote:
@Repairman wrote:
I'm thinking about the possibility of apping for a Saks card, and am just curious from those who have it, whether you think it's a good card to have. Are the benefits good enough for a shopper of the store or am I just as good jsut using something like my Quicksilver when shopping at Saks? Are there any real advantages to having the Saks card?
The better advantage would be if you get approved for the Saks WEMC. The store card by itself may not provide much in the sense of overall benefits unless you shop at Saks, Saks.com or Off 5th very frequently. I have the WEMC and it's a pretty decent card benefits-wise.

If you review their benefits/perks via the links below, perhaps this can give better perspective on whether it may be suitable for you:

http://www.saksfifthavenue.com/SaksFirst/store_card.jsp

http://www.saksfifthavenue.com/SaksFirst/world_elite_mc.jsp
DO you have to apply for the cards seperately? I've heard of people applying to the store card, then having to upgrade to the other? Can you just apply for the MC right from the start?
Yes, you can apply for the WEMC at the store (not sure if there's an actual online application for the MC). You will be considered for WEMC first, then Platinum MC and then the store version (depending on your creditworthiness). If you get approved for the store version, you can eventually upgrade to WEMC down the road once your overall profile becomes eligible.

ETA: I was approved for the WEMC several years ago while shopping at the Chicago (Michigan Ave) store. You can also use the card (store or WEMC) at any of their outlet stores.

Do you know what score(s) they pull?