topic Re: Why I Like Store Cards in Credit Cards

Why I Like Store Cards

Middleswarth — Wed, 17 Sep 2014 03:52:37 GMT

I'm going to throw this out here since I'm not sure it has been discussed before...

Besides the benefits of discounted merchandise and no interested financing, I believe the biggest advantage of using a store card is safety. It occurred to me the other day when Home Depot was hacked. Everyone who shopped there with a standard AMEX, Disc, MC, or Visa is at risk of fraud. Those who used only their Home Depot store card have a much lower risk since the card can only be used at Home Depot.

Thoughts? Am I missing something obvious?

Re: Why I Like Store Cards

Skye12329 — Wed, 17 Sep 2014 04:06:47 GMT

Seems like every store is getting hacked personally i just dont want any store cards because i feel like i have too many right now XD

Re: Why I Like Store Cards

Anonymous — Wed, 17 Sep 2014 04:07:51 GMT

@Middleswarth wrote:
I'm going to throw this out here since I'm not sure it has been discussed before...

Besides the benefits of discounted merchandise and no interested financing, I believe the biggest advantage of using a store card is safety. It occurred to me the other day when Home Depot was hacked. Everyone who shopped there with a standard AMEX, Disc, MC, or Visa is at risk of fraud. Those who used only their Home Depot store card have a much lower risk since the card can only be used at Home Depot.

Thoughts? Am I missing something obvious?

0% liability means that there is no financial loss any way, though there may be some work.

But your argument could also apply to using cash rather than store cards, nothing to hack! It all depends on relative rewards

Re: Why I Like Store Cards

Anonymous — Wed, 17 Sep 2014 04:25:03 GMT

@Middleswarth wrote:
I'm going to throw this out here since I'm not sure it has been discussed before...

Besides the benefits of discounted merchandise and no interested financing, I believe the biggest advantage of using a store card is safety. It occurred to me the other day when Home Depot was hacked. Everyone who shopped there with a standard AMEX, Disc, MC, or Visa is at risk of fraud. Those who used only their Home Depot store card have a much lower risk since the card can only be used at Home Depot.

Thoughts? Am I missing something obvious?

store card are good for big purchases with 0% apr promotions, i have a lowes for home repairs and appliances and bestbuy for computer, tv. but i don't need a macys or express card to buy a shirt or a pair of jeans at 29% apr no rewards, i think major credit card and store cards have the same risk for fraud.

Re: Why I Like Store Cards

trumpet-205 — Wed, 17 Sep 2014 04:37:51 GMT

Store cards typically are not advertised to have zero percent liability. This means if fraud occurred and you report it within 60 days you are liable up to $50.

Re: Why I Like Store Cards

SunriseEarth — Wed, 17 Sep 2014 07:31:26 GMT

@Middleswarth wrote:
I'm going to throw this out here since I'm not sure it has been discussed before...

Besides the benefits of discounted merchandise and no interested financing, I believe the biggest advantage of using a store card is safety. It occurred to me the other day when Home Depot was hacked. Everyone who shopped there with a standard AMEX, Disc, MC, or Visa is at risk of fraud. Those who used only their Home Depot store card have a much lower risk since the card can only be used at Home Depot.

Thoughts? Am I missing something obvious?

I'm not sure if all store cards are necessarily safer. That being said, someone could probably do a lot more damage on my BCE than my JC Penney card.

Anyway, I like store cards because of special financing offers, rewards/discounts, and other special perks (i.e., Walmart's "cash-over" feature). I also think they're good for UTIL, as I can put use on a store card instead of tying up the CL on a major CC. For some people, store cards don't make sense in their lineup at all.

Re: Why I Like Store Cards

taxi818 — Wed, 17 Sep 2014 11:20:43 GMT

@Skye12329 wrote:
Seems like every store is getting hacked personally i just dont want any store cards because i feel like i have too many right now XD

I don't believe they are getting hacked. If you leave front door open someone is bound to come in. Eventually. They have old systems and font want to downs to update is real issue. But media won't tell you that part. All about the profits. My rust bucket still runs. Why but new car mentality with these box stores and computer software.

Re: Why I Like Store Cards

Anonymous — Wed, 17 Sep 2014 12:08:24 GMT

A few months ago I went to my local Home Depot. I bought a lawn mower last year in May and I couldn't find the receipt; I needed it for warranty purposes.Since I bought it with my Home Depot card, they were able to look up my account and give me a reprint of the receipt. I'm not sure, but I don't think that using a major non-store brand card would've allowed them to do that.

Re: Why I Like Store Cards

Blodreina — Wed, 17 Sep 2014 12:12:48 GMT

@SunriseEarth wrote:
@Middleswarth wrote:
I'm going to throw this out here since I'm not sure it has been discussed before...

Besides the benefits of discounted merchandise and no interested financing, I believe the biggest advantage of using a store card is safety. It occurred to me the other day when Home Depot was hacked. Everyone who shopped there with a standard AMEX, Disc, MC, or Visa is at risk of fraud. Those who used only their Home Depot store card have a much lower risk since the card can only be used at Home Depot.

Thoughts? Am I missing something obvious?
I'm not sure if all store cards are necessarily safer. That being said, someone could probably do a lot more damage on my BCE than my JC Penney card.

Anyway, I like store cards because of special financing offers, rewards/discounts, and other special perks (i.e., Walmart's "cash-over" feature). I also think they're good for UTIL, as I can put use on a store card instead of tying up the CL on a major CC. For some people, store cards don't make sense in their lineup at all.

I am one of those people.

Re: Why I Like Store Cards

Jaylima91 — Wed, 17 Sep 2014 12:41:42 GMT

I would have too many store cards if I lived by that conception.

Re: Why I Like Store Cards

takeshi74 — Wed, 17 Sep 2014 13:19:07 GMT

@Middleswarth wrote:

Thoughts? Am I missing something obvious?

The pros and cons are going to weigh in differently for different people. Limited usability isn't just a pro -- it's a doubel edged sword. That "benefit" isn't sufficient for me to have any store cards. However, again, YMMV.