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