My L&T one I applied just to get the 15% off...also haven't touched the card since...
VS I applied bc I was doing a lot of shopping there at the time...(yes, applied...I'm proly the only idiot here that took a HP for it :x )
@BrokaToe wrote:IMO there are many different reasons depending on the person and their spending habbits as to why they would acquire store cards. Some store cards offer different promotions or rewards that aren't available on the everyday visa, MC, Discover or Amex etc...
Some folks may get them as builders or rebuilders because in most cases the underwriting criteria is more lenient.
Others may choose to use store cards at their favorite shopping places in order to keep expenditures separated on different cards.
There's really tons of reasons and probably plenty more that I've not thought of. Like I said it really depends on the person and their spending habits.
But I definitely wouldn't say the only reason was because they couldn't acquire anything else or anything better.
+1 to this.
As far as keeping expenditures separated, this definitely plays into UTIL, as I can certainly say my store cards help carry weight in that department.
Stores due have loyalty programs on their CCs that often exceed rewards cards. My Gold Violin CC gives me $10 coupons for every $150 spent (nearly 7% reward). Mine even payed out at $125 in spending as a thank you, giving me an 8% reward in effect. And yes, many stores do have special financing, which eliminate or defer interest for those big ticket items.
