Store Cards

[Anonymous]

Is this coincedence why the receipts on the thread everyone paid with AMEX or was there a deal? heheh

[UncleB]

A couple of times I've done quite well with my Lowe's card, especially one time when the 5% was doubled to 10% for a holiday weekend. 

That adds up when you're talking about a riding mower or a refrigerator. 

[Brian_Earl_Spilner]

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@Anonymous wrote:

Is this coincedence why the receipts on the thread everyone paid with AMEX or was there a deal? heheh

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Nah, I only have a $300 limit and just made a $150 purchase the week before so I put the $9 on my amex. Lol. Plus I need to hit spend for my SUB.

[Anonymous]

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@UncleB wrote:

A couple of times I've done quite well with my Lowe's card, especially one time when the 5% was doubled to 10% for a holiday weekend. 

That adds up when you're talking about a riding mower or a refrigerator. 

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Is this like taking a ride on the Reading Railroad and if you pass go collect $200?

[HeavenOhio]

I don't think we've condemned all store cards. Kohls, Target, Lowe's, Home Depot, and possibly Menards have been cited as worthwhile cards.

We do point out that for a store card to be worthwhile, one has to shop there frequently. The last thing you want to have to do is make a purchase that you woudn't have made otherwise in order to keep a store card active.

Many of us have also suggested staying away from store cards as builder cards. They can hinder the acquisition of more useful major cards. Rather, one should build with major cards and consider store cards afterwards.

Then there's the matter of store cards lowering the LexisNexis score used by insurance companies to determine rates for customers in 47 states. (California, Hawaii, and Massachusetts prohibit the practice of using credit to determine rates.)

As far as Kohl's itself, the pricing structure is way too confusing for me, particularly with Kohl's brands that can't be purchased elsewhere. If it's something like a pair of Levi's, that's no problem because I know what a good price is. The Ray-Ban example given on the previous page would be similar. In general, however, I find Kohl's products to be overpriced for the quality. I tend to do better with both quality and price at Macy's or Nordstrom — without the confusion.

[pizza1]

OP...
I LOVE my Pottery Barn card....Like, so much I would never give it up. I like the fact you can Either do financing or rewards back for a larger purchase, and their financing isn't a bad deal at all.

I like to save my rewards up, plus wait for "bonus" rewards in the mail, and then use them at their big sales, like the one they just had! I basically saved $140 off my $300 purchase

[Remedios]

Brian, you don't need to justify your choices of cards. If you're getting value out of it and use it frequently,  that's all that matters. 

I guess it was time for our monthly * Store cards are evil and issued by The Satan's Bank*

Up next:

* Why do you have so many cards*

*Why do you need high limits* 

*CapOne is bad*. 

*My Rewards System is perfect, yours is NOT*

[UpperNwGuy]

-- Don't get a store card unless you plan to shop often at that store and hopefully get discounts for using their card.

-- Don't get store cards as credit builders.

-- Never carry a balance on a store card.  Most of them have very high APRs.

[Anonymous]

I have Target and wife has Kohls.

Target is good for 5% back instantly, but we only put $40-60 every other month on it. Limit is $2800 and we have had it for 8 years. I have updated income several times. No biggie. It's all what you want. There is no "wrong" for everyone.

I would not cancel it, but if I did not have it, I would not apply for it now.

I recently applied for the new Shell Fuel rewards card (just the gas card, not the Mastercard). I use almost exclusively Shell. It pays 30 cents per gallon for the first five fillups (that's why I signed up), but then drops to 10 cents a gallon, I also pays 10% in Shell store for non-fuel items, up to $10000 a year. I am debating whether to keep it after promo, but 10 cents off instantly at pump is cool, even though AMEX BCP is better with 3%.

[Anonymous]

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@Remedios wrote:

I guess it was time for our monthly * Store cards are evil and issued by The Satan's Bank*

Up next:

* Why do you have so many cards*

*Why do you need high limits* 

*CapOne is bad*. 

*My Rewards System is perfect, yours is NOT*

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I really haven't seen that third one much recently.  Maybe time for a revival.   And "Amex CLI" needs to be on that list.