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Store cards

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Valued Contributor

Re: Store cards

Gotta say it  depends. 


For rebuilders, yes they are popular. As I'm getting closer to 700 scores across the board, I am closing some of my store cards but not all.


Amazon - will always keep. I can't tell you how often I order from there. Especially with Prime. And I have a kid away at college and it's really useful for getting stuff to her. And often cheaper than buying a bunch of stuff and packing/shipping a box (she's in a tiny town so buying stuff there is out. A half gallon of lactose free milk is almost $7!). Plus the 0% interest on larger purchases has come in handy. My limit is now $5,000.

 

Target - will always keep. I am within 3 Target stores at any given time and shop there at least twice a week. 5% discount rocks. Limit is $2,000.

 

VS - Perks make it worth it so far. $750 limit.

 

Pier1 - I just love the store and am not ready to part with the card yet. Rewards are a little more reasonable (spend $200 get $10. And they have double points often!)

 

TJMaxx - Pry it from my cold, lifeless hands!!!! $3,500 limit.

 

WalMart - will keep for now. I do use it several times a month at WM and Sam's. I always get my gas at Sam's and can use the card plus 2% cashback on gas. My limit is handy at $6,000. 

 

JCrew, Ann Taylor, Overstock and Kohls- those will all be closed in April. JC/AT I do shop there but the perks aren't all that and I can just use a cashback card. OS was a "why on earth did I app for that?" and Kohl's is just blah to me. I don't shop there. I have used it 2 times in the 6 months I've had it. The discounts do nothing for me as I don't like their clothes or shoes! And I find housewares at Target/TJMaxx mostly. I shopped there when my kids were little. Not so much now.

 

Macy's is potentially on the chopping block. Limit is $600.

 

American Eagle is great padding for now at $3,500.

 

So rather than read into people saying store cards are 'crap' or that all store cards come with 'toy limits', decide for yourself if the card will actually be useful to YOU and if so, go ahead and app away!

11/2017: EX 704 | TU 720 | EQ 672 -- Starting (2/2016): 630 | 620 | 580 -- INQs: 17 | 26 | 28 (last 6 months: 5 | 2 | 6)
AMEX Delta: $10k, Marvel: $8k, Discover IT: $7.2k, AMEX BCE: $6k, Target MC: $5k, PayPal 2%: $8k, CO QS: $2.6k, Merrick: $1.6k, Barclay's NFL Rewards: $1k, CO BuyPower: $500. And a mix of well-loved store cards.
Message 21 of 29
Mega Contributor

Re: Store cards

Also look out for additional perks.   The Target Redcard (debit for me but I assume credit as well) gives free shipping and extended returns.    Doing it on line also allows me to go through a cashback portal, and then I pay with a target giftcard, but still get free shipping as a redcard holder 

Message 22 of 29
Highlighted
Valued Contributor

Re: Store cards

Lowe's is good for the financing. We got an offer for 18 months no interest and combined that with the sale on bathroom stuff to redo my mom's bathroom to make it more elderly friendly. We were planning on doing it anyway but I'm glad it worked out like this. And it's only 17% UTI on the card.
Message 23 of 29
Regular Contributor

Re: Store cards


@longtimelurker wrote:

Also look out for additional perks.   The Target Redcard (debit for me but I assume credit as well) gives free shipping and extended returns.    Doing it on line also allows me to go through a cashback portal, and then I pay with a target giftcard, but still get free shipping as a redcard holder 


I still like Target overall, but my experience with their Debit RedCard was really irritating.

We wanted to take advantage of the 5% back on some Disney gift cards for an upcoming vacation, but when we tried to buy them the transaction kept getting declined. I had a manager call in to ask why, and it was because we had to build up a "history" of purchases for it to allow larger transactions. The only reason we signed up and linked our account was to make a large GC purchase. And it's linked directly with a checking account. They know the money is there. Anyway, they had to refund the purchase amount (it charged the full amount, without taking the 5% off) and we just went to Sam's Club to buy them there (4.3% off or so).

 

Anyway, that's my only tangentially-related Target rant of the day. Carry on.

FICO as of Feb 2017:
EQ 712 | 728 TU | 713 EX
Message 24 of 29
Mega Contributor

Re: Store cards


@accidentalpancake wrote:

@longtimelurker wrote:

Also look out for additional perks.   The Target Redcard (debit for me but I assume credit as well) gives free shipping and extended returns.    Doing it on line also allows me to go through a cashback portal, and then I pay with a target giftcard, but still get free shipping as a redcard holder 


I still like Target overall, but my experience with their Debit RedCard was really irritating.

We wanted to take advantage of the 5% back on some Disney gift cards for an upcoming vacation, but when we tried to buy them the transaction kept getting declined. I had a manager call in to ask why, and it was because we had to build up a "history" of purchases for it to allow larger transactions. The only reason we signed up and linked our account was to make a large GC purchase. And it's linked directly with a checking account. They know the money is there. Anyway, they had to refund the purchase amount (it charged the full amount, without taking the 5% off) and we just went to Sam's Club to buy them there (4.3% off or so).

 

Anyway, that's my only tangentially-related Target rant of the day. Carry on.


Yep.   But I dont USE the debit card, merely have it to get the shipping etc.   I use discounted Target gift cards for purchases, although you might run into other issues by Disney cards with them

Message 25 of 29
Established Contributor

Re: Store cards

Interesting for some reason I thought the redcard 5% off excluded giftcards? If it does not that would be awesome!

AAOA 15 months Fico 08's 714 717 678 11% Utilization
Message 26 of 29
Contributor

Re: Store cards

I use all of my store cards and I have MANY. I used 3 of them today as a matter of fact. I bought a new mattress with my Macy's card. 0% for 24 months. I bought groceries with my Target card. Saved 5%. Also used my Banana Republic card for a few items on which I had $50 in rewards. I enjoy the little perks that some stores offer their cardholders and I take full advantage. To each his own I guess.
Message 27 of 29
Valued Contributor

Re: Store cards

Message 28 of 29
Contributor

Re: Store cards

I have a few that were aquired during credit rebuilding but still use.  Amazon,  Lowes and Home Depot.  I like the 5% back and financing offers when needed.  Citi Best Buy Visa also gets some use but can also be used anywhere.  Not mentioned in this thread but I also use BP gas card almost daily.  Some of my work mileage is deductable and the statements help backup my records.  It also gives gas discounts.  I drive over 30,000 miles a year so it gets good use.

Message 29 of 29
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