Store cards..

[Anonymous]

What is the reason people apply for store cards besides the coupons they send you? Is it because they can't get any cards from banks...?

[Creditaddict]

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@Anonymous wrote:
What is the reason people apply for store cards besides the coupons they send you? Is it because they can't get any cards from banks...?

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Really varies but some reasons:

5% off

free shipping always

places like macys almost is silly to shop at without the card since they usually give you 10-20% additional off with use of card

sonetimes the point system

sometimes 0%

and then finally sometimes as your last point was, it's a great way to rebuild sometimes!

[sailor_mercury]

Rewards, discounts and customer service.

Macy's is a wheeler dealer... Having their hard over any other will save you a TON of money if you shop there a lot.  I changed jobs from a business casual to a business professional environment about two years ago.  I spent about $2500 with Macys for work clothes, they took a TON of money off for having their card and then turned around and sent me a Gift Card that was almost $250.

Others are because they can be easier to get a build history with.  Some give an extra 5% off all purchases, etc.

[CreditExpressNJ]

Well banks authorize store cards also what you mean is signed cards meaning Visa, MC , Discover or AMEX but the answer your question theres plenty of reasons for store cards... Such Walmart.... it offers financing with 0% period between 6 12 24 months.....then others offer coupons and rewards .. but i do understand what you mean why get a store card when you can put it on a regular card..

[BrokaToe]

IMO there are many different reasons depending on the person and their spending habbits as to why they would acquire store cards.  Some store cards offer different promotions or rewards that aren't available on the everyday visa, MC, Discover or Amex etc...

Some folks may get them as builders or rebuilders because in most cases the underwriting criteria is more lenient.

Others may choose to use store cards at their favorite shopping places in order to keep expenditures separated on different cards.

There's really tons of reasons and probably plenty more that I've not thought of. Like I said it really depends on the person and their spending habits.

But I definitely wouldn't say the only reason was because they couldn't acquire anything else or anything better.

[kroberts67]

For me, all of the store cards I have I got in the rebuilding process.  They are not only easier to get when rebuilding then bank cards, the CLI's are often timely and easy as long as you're paying on time.  In the case of Macy's, it was also to get the additional % off by using their card.

[Anonymous]

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@shaun2009 wrote:
Well banks authorize store cards also what you mean is signed cards meaning Visa, MC , Discover or AMEX but the answer your question theres plenty of reasons for store cards... Such Walmart.... it offers financing with 0% period between 6 12 24 months.....then others offer coupons and rewards .. but i do understand what you mean why get a store card when you can put it on a regular card..

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+1

I keep the WM card for up to 24 months 0% APR offers.

[B335is]

With Walmart card you can also get cash back without the fees.

[CreditUnionFan]

I've applied for a few because when CLs were tight, the store cards were easier to get. And, by boosting my available credit with their easy CLIs, it boosted my scores and allowed me to get better terms on the major cards.

I still keep the store cards because of the discounts they offer. Others have mentioned Macys; Sears, Kohls, JCPenney, and Target are great examples where you get a discount for using the store card over the standard credit (Visa/MC/Discover/Amex). So, I keep the store cards for their perks.

I wouldn't carry a balance on a store card, but I'll be sure to take their discounts, promotional financing, and free up dollars on my other credit cards.

[tcbofade]

DW and I have replaced all of our appliances and most of our furniture over the last five years using a zero percent for x months store card.

edit... 4 and a half years, over ten thousand dollars in furniture and appliances...zero in interest.