@Anonymous wrote:Hello,
Last night, I went shopping with my wife, and we bought supplies at home depot for a renovation that is being done on our home. At the checkout, the cashier offered me a home depot credit card. He said that I would save 15% of my purchase today, and I will save 10% on all future purchases. So, I signed up, and got approved for it. I'm worried about the interest rate, and if having the card will affect my credit at all. I have perfect credit, and I've never missed a loan payment in my whole life. But, do store cards affect a credit score that much? Thanks!
You may experience an AAoA hit, the INQ and new account ding but other than that you'll be fine.
@digitaldiva wrote:
@Anonymous wrote:Exactally why I went with getting the card. I always get offered credit cards from stores such as sears, macys, jc penny, and tons of other stores. I don't have any store cards, because many of them usually carry huge interest rates if I don't pay off my balance in full. (Which I do anyways.). But, thanks for your help!
If you pay your balance(s) in full, the interest rate doesn't really matter; as long as you PIF before your statement date.
+1