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Do you apply for store credit cards to get discount? If so, do you cancel them afterwards?

Contributor

Do you apply for store credit cards to get discount? If so, do you cancel them afterwards?

I'm interested in hearing feedback from people who've been there...

Ex. Nordstorm store credit card where you get 20% off immediately if you apply for their credit card.

 

Do you do it?

Do you keep it afterward and put it in your sock drawer?

Do you cancel it afterward you pay off the first purchase and get on with your life?

Any negative in applying it and cancel it after the first cycle? Other than the CR inquiry used.

 

Would love to hear people who been there and done that. Thanks a bunch!

Message 1 of 15
14 REPLIES 14
Established Member

Re: Do you apply for store credit cards to get discount? If so, do you cancel them afterwards?

I got a Macy's one for the instant sign up sale but I get nice little discounts all year with it and I do hit them up every so often and spend a nice penny but really only because they are the only close and decent place. Great for browsing and I can definitely see myself using it for years to come. Get nice cli all soft and I pif when used. Not a great card but definitely used and chosen for a mall stop. Probably shouldn't carry it with me all the time but honestly I sporadically shop and you never know!
123 BOA Cash Rewards 2K, Macy's Store, GE Capital (local furniture) 4K & counting

Long Term Goals:
Amex BCP, Discover, CSP
FICO score 750+ Smiley Very Happy
Message 2 of 15
Moderator Emerita

Re: Do you apply for store credit cards to get discount? If so, do you cancel them afterwards?

Nordstrom gives 20% off!? How did I miss that?

I have 4 store cards- none I acquired for coupons.

JCP- cause they were the first GE card
WalMart-TU score
Nordstrom-I live in that store!
Macy's -,for my DH and DS

Edit: make that 5- VS and I guess the reasons I got that was for the coupons for me.
Message 3 of 15
Super Contributor

Re: Do you apply for store credit cards to get discount? If so, do you cancel them afterwards?

I use DW's express card and PIF instantly just to get rewards through them. 

Filed BK7: 7/2012 (start score EQ 560 / TU 529) Discharge 10/2012
755 EQ FICO 12/2019
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Message 4 of 15
Frequent Contributor

Re: Do you apply for store credit cards to get discount? If so, do you cancel them afterwards?

I resist. 


CSP-$8700, Amex BCE-17.2k, Chase Freedom-$5700
Discover It-$6600, USAA MC-$5900 Ink Bold- $12k United Explorer-$5k
Message 5 of 15
Valued Member

Re: Do you apply for store credit cards to get discount? If so, do you cancel them afterwards?

I have 2 dept. store cards. One I got from banana republic. I bought a suit from there, with a tie and the whole 9 yards, so opening up an acct. saved me over $150 at the time. The other one I have is for national tire & battery- 0% for 6 mo. on purchases of $500 or more. 5 cars in a family, it's come in handy

Starting Score (2/15/13): EX (fako) 583// EQ FICO 634// TU FICO 658
Current Score (5/27/14): EX FICO 719// EQ FICO 742// TU FICO 729
Goal Scores: 740 on all.
CSP- 10K, United mileage explorer- 9k, Freedom- 5k, Barclays Arrival+ W.E.- 5k, Nordstrom- 6k, Chase Hyatt- 5k, Discover it- 5k, Slate- 4.5k, Amex Blue Cash- 1k.
Message 6 of 15
Valued Contributor

Re: Do you apply for store credit cards to get discount? If so, do you cancel them afterwards?

I have Dillards and Macy's as my main clothing retail cards. I really like American Eagle but really dont want to apply for the card. Been stopping myself from applying at the cash register or online.

gardening since 5/21/2016
Message 7 of 15
Frequent Contributor

Re: Do you apply for store credit cards to get discount? If so, do you cancel them afterwards?


@09Lexie wrote:
Nordstrom gives 20% off!? How did I miss that?

I have 4 store cards- none I acquired for coupons.

JCP- cause they were the first GE card
WalMart-TU score
Nordstrom-I live in that store!
Macy's -,for my DH and DS

Edit: make that 5- VS and I guess the reasons I got that was for the coupons for me.

Regarding Nordstrom:  You do not get 20% off - you get a $20 Nordstrom Note if you spend at least $100 the day you open your account in the store.  And if you're doing a lot of shopping that day, you get another $20 note if you spend $334 or more (assuming your salesperson activates your 3x points day).  I've opened this account for a few people, so I'm a bit familiar with the perks Smiley Happy

 

Hope that helps Smiley Very Happy

800+ across all three (via FAKOs) has been achieved! Current goal - Get down to 6 cards in total - sitting with 8 currently.
Message 8 of 15
Frequent Contributor

Re: Do you apply for store credit cards to get discount? If so, do you cancel them afterwards?

I opened my Target card because I'd just turned 18 and wanted credit (but this was when they still offered a 10% coupon vs. 5% everyday).  Nowadays I just use it for the 5% off.

 

I opened the Gap card for an extra 15% off, haven't cancelled it though.  I get all sorts of additional % off for having/using the card + GE just doubled my CL to $8k.  I LOVE the card (minus the high APR rate).

 

Nowadays I don't open any more store cards.  If I can't get a decent discount without opening an account, I'll hold off on purchasing.

800+ across all three (via FAKOs) has been achieved! Current goal - Get down to 6 cards in total - sitting with 8 currently.
Message 9 of 15
Super Contributor

Re: Do you apply for store credit cards to get discount? If so, do you cancel them afterwards?

Only when the rewards are compelling.

 

For instance, I had a large purchase to make at Saks ($5K is large for me).  In this case, I applied for the card with 20% discount without hesitation.  Never used the card since, and will close it next year.

Message 10 of 15
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