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Frequent Contributor
Posts: 342
Registered: ‎04-21-2012
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Re: Why do people use store cards?

[ Edited ]

+1 

 

Anything you can get in a store card, you can get in a regular cc.  Rewards, points, cash back, etal.  Store cards often have the highest interst rates.  Why would any sane person WANT to keep a card where you might have to pay a 29% interest vs. 7 or 9% --- why????  How are store cards easier to get?  Perhaps for people with very low credit scores and who only want/get a few hundred $ of credit.  Not me - I was a recognized card with all the features available and high credit limits instead of these silly micro-limits I hear people talk about so much.

 

Store cards have no place in my wallet.

Valued Contributor
Posts: 2,110
Registered: ‎12-29-2011
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Re: Why do people use store cards?

I use my Macy's store card when they have 15% off deals...and if they don't...I still get 20% off anyway on my employee discount (can only get it by using your card) Lol. So Using my card, I can see a total of 35% off retail by using my store card.

The truth is out there...
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Posts: 1,922
Registered: ‎06-21-2012
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Re: Why do people use store cards?


soleilbabe wrote:

I don't like store cards b/c they force you to be loyal to a store, but I guess if you're already shopping there, why not? I still haven't convinced myself to appy though....VS and Mayc's sound nice lol


they aren't forcing you to be loyal...you chose to apply for the card in the first place. also, people get the store cards because they already are frequent shoppers of that store anyway.

| Walmart $5k | Amazon $5k | NFCU $20k | NLOC $15k | Lowes $17k | BoA $15k | Freedom $3k | IT $5.25k | CSP $5k | Marriott $5k | AMEX TE $18k | Alaska $5k |
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Valued Contributor
Posts: 1,922
Registered: ‎06-21-2012
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Re: Why do people use store cards?


Roarmeister wrote:

+1 

 

Anything you can get in a store card, you can get in a regular cc.  Rewards, points, cash back, etal.  Store cards often have the highest interst rates.  Why would any sane person WANT to keep a card where you might have to pay a 29% interest vs. 7 or 9% --- why????  How are store cards easier to get?  Perhaps for people with very low credit scores and who only want/get a few hundred $ of credit.  Not me - I was a recognized card with all the features available and high credit limits instead of these silly micro-limits I hear people talk about so much.

 

Store cards have no place in my wallet.


the higher interest doesn't matter when you PIF. I use store cards for everyday discounts, 0% financing on certain purchases, gas discounts, coupons, and free FICO score. Besides, I only have store cards that serve a purpose to me. I don't have just random store cards just to have cards.

| Walmart $5k | Amazon $5k | NFCU $20k | NLOC $15k | Lowes $17k | BoA $15k | Freedom $3k | IT $5.25k | CSP $5k | Marriott $5k | AMEX TE $18k | Alaska $5k |
Starting Scores: EQ:571 EX:??? TU:597
Current Scores: EQ:694 EX:714 TU:711
Goal Scores: 700
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Valued Contributor
Posts: 1,986
Registered: ‎01-24-2012
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Re: Why do people use store cards?


Roarmeister wrote:

+1 

 

Anything you can get in a store card, you can get in a regular cc.  Rewards, points, cash back, etal.  Store cards often have the highest interst rates.  Why would any sane person WANT to keep a card where you might have to pay a 29% interest vs. 7 or 9% --- why????  How are store cards easier to get?  Perhaps for people with very low credit scores and who only want/get a few hundred $ of credit.  Not me - I was a recognized card with all the features available and high credit limits instead of these silly micro-limits I hear people talk about so much.

 

Store cards have no place in my wallet.


Did you ignore everything that everyone said in the thread? Many store cards give you a discount when you use them. No regular credit card is going to give you 20% off for using it at the store. Store cards can have very high limit. Althought not very high, the Amazon store card I have is 5000. That is more than a few hundred. I never have and never will pay interest so I couldn't care less about the interest rate. You are obviously free to not have a store card if you wish, but explain how it makes sense to spend more when you do not have to. Without a Macys card, you do not get the 20% off coupons. I also just got $20 off of $50 or more, which is at most, 40% off. The US Bank Cash + gives 5% at department stores, but the Macys card still has it beat.

 

Amazon lets you finance for up to two years, with no interest. No regular credit card will let you do that over and over again. You can even finance for six months if the purchase is at least $149. This only makes sense if you do not have the Chase Amazon Visa, and a lot of people do not. So, again, a regular credit card will not let you finance with no interest for a purchase that small.

Senior Contributor
Posts: 3,197
Registered: ‎01-24-2010
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Re: Why do people use store cards?


ccnewcc wrote:

Dustink wrote:

ccnewcc wrote:

Razeus wrote:

I see people here always touting Walmart, Home Depot, Macy's, JCP, etc.

 

Why would you use a store card over just a Visa, MC, Discover or AMEX?  Do they give a discount with each purchase?  Coupons?


I don't think store cards are worth it at all.  

 

In fact i think they are useless.

 

IMO, they discounts and promotions do not justify having a Store card.

 

Some ppl will differ from my point of view.

 

I can not and will not ever be convinced that a Store Card is worth getting.  Not even if said store card was giving me a promotion of idk lets say 1 MILLION dollars FREE products if I spent 1 dollar at their store using their store card.  I still would not get a store card.  LOL! :smileytongue:

 

 


HUH?

 

A store card is worth it, if you can get a larger discount than you would rewards another way.

 

For example. Best buy offers 10% off ink if you use your store card. They also offer price matching. So using a store card to buy ink at best buy is one of the cheapest local ways to buy ink. You also get 4% (4.5% for premier members) back in rewards if you choose standard financing. So, that is one of many ways a store card can be useful.


Meh.

 

Like I said, I can not and will not ever be convinced that a Store Card is worth getting.

 

 


Based on your ridiculus criteria of $1M rewards not being worth it, Can we assume you feel the same way about all CC?  Their rewards don't measure up either.

Frequent Contributor
Posts: 406
Registered: ‎04-15-2011
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Re: Why do people use store cards?

[ Edited ]

I knew someone that couldnt get a store card due to past credit mis-use a couple years ago with several stores and told me this same line.  I felt they were jealous when they heard of the easy CLI's I would get and how easy it was for me to keep my utilizaion low with them compared to the way it is with a Logo Credit card that is very easy to use anywhere so tempation is always greater..

Valued Contributor
Posts: 1,987
Registered: ‎06-25-2012
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Re: Why do people use store cards?

lacoste blue bottle cologne $75 regular price....$56 if you use your Macys card. thats why i use my macys card.

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Frequent Contributor
Posts: 316
Registered: ‎04-07-2012
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Re: Why do people use store cards?

To each his/her own. I love reading my Macy's statement and seeing how much money I've saved because off the discounts/coupons that come along with being a cardholder. I have prime cards, Chase Southwest Visa and the CSP that will never provide the savings/points/perks that I receive when I use my Macy's card. The APR on my Nordstrom card is roughly 12%. So for me, it's better to use that card in store than one of my primes.

Established Contributor
Posts: 2,112
Registered: ‎09-25-2011
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Re: Why do people use store cards?


payingoffdebt001 wrote:

I knew someone that couldnt get a store card due to past credit mis-use a couple years ago with several stores and told me this same line.  I felt they were jealous when they heard of the easy CLI's I would get and how easy it was for me to keep my utilizaion low with them compared to the way it is with a Logo Credit card that is very easy to use anywhere so tempation is always greater..


Don't always rely on your CLI from store cards, the best credit cards companies like Chase do not factor in utility of store cards AT ALL.

 

It's nice for your Fico which is still good, but personally I don't see the point in store cards unless you shop there a lot. I definately wouldn't ever get a Lowe's card if I didn't own a house etc. I wouldn't shop there enough to be justified.

 

Walmart is ideal cause you can buy almost anything, good with CLI with optimal use, Free Fico08 scores, and can GRADUATE to a Discover version you can use anywhere.

 

Victoria secret is good cause everyone likes free panties and the catalogs :smileywink:

 

 

 


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