Tell me why I don't want that store card.

[Anonymous]

So, I fell in love with the bedding from a certain department store, and I am very tempted to get a JcPenney credit card (Syncrony). I will be placing another $200 order today regardless, but the offer of extra points/coupons is taunting me.

Do I dare get in bed with Synchrony because of my love of these sheets and pillows? Or should I stick with reliable Amex, Citi, and Cap1?

[Anonymous]

Do you have any Sync cards now?

Do you have fewer than 5 revolvers open and active?

Will a new account affect your AAoA poorly by dropping it below 24 months?

[Gmood1]

There's absolutely nothing wrong with having store cards that you find useful. That doesn't mean go crazy with them. lol
From what I've read, too many can lower your insurance scores. Which could raise your insurance rates.
Honestly I look at that as just an excuse for the insurance companies to rob us even more really. 😡

[Anonymous]

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@Anonymous wrote:
So, I fell in love with the bedding from a certain department store, and I am very tempted to get a JcPenney credit card (Syncrony). I will be placing another $200 order today regardless, but the offer of extra points/coupons is taunting me.

Do I dare get in bed with Synchrony because of my love of these sheets and pillows? Or should I stick with reliable Amex, Citi, and Cap1?

---

If you will buy from the store a lot and PIF, go for it. It has use for you. Just be careful about too many co branded cards from synchrony. Having one or two store cards in your portfolio isn’t bad. It’s all about your spending patterns. I have none because I don’t shop at any store a lot except Amazon. And they so happen to have a Visa I applied for.

[Anonymous]

ABCD2199, I do not have any Sync cards, but the Gap and Lowes often whisper to me. I have 6 revolvers. My AAOA is somewhere between 5 and 7 years (thanks, student loans).

[Anonymous]

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@Anonymous wrote:
ABCD2199, I do not have any Sync cards, but the Gap and Lowes often whisper to me. I have 6 revolvers. My AAOA is somewhere between 5 and 7 years (thanks, student loans).

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I see no reason not to apply for it, unless you're chasing Chase and have a 4/24 rule situation preventing a future Chase card approval.

If the application offers savings right now that no other card matches, it might make sense for your portfolio.  If that card is useful in the future, it may also pay dividends.  Not sure what perks the card has.

One thing to note that may be huge is that store cards typically do not offer price perks that bank cards do, such as extended warranties, price matching, damage insurance, etc.  If the item you're buying might be prone to those things, or you want an extended warranty or price match policy, store cards aren't it.  But the bonus savings might warrant giving up those perks.

[Anonymous]

Get the Discover card and shop JCPenny through Discover Deals.  You'll get 5% cash back.

[wasCB14]

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@Anonymous wrote:
So, I fell in love with the bedding from a certain department store, and I am very tempted to get a JcPenney credit card (Syncrony). I will be placing another $200 order today regardless, but the offer of extra points/coupons is taunting me.

Do I dare get in bed with Synchrony because of my love of these sheets and pillows? Or should I stick with reliable Amex, Citi, and Cap1?

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Have you tried running your JCP purchases through Citi's price rewind?

I don't shop at JCP and don't know how much of the stuff they carry is available from competitors.

[Anonymous]

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@Gmood1 wrote:
There's absolutely nothing wrong with having store cards that you find useful. That doesn't mean go crazy with them. lol
From what I've read, too many can lower your insurance scores. Which could raise your insurance rates.
Honestly I look at that as just an excuse for the insurance companies to rob us even more really. 😡

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Also depends where you are.  A few states, including mine, ban pricing based on credit scores (a.k.a insurance score)

[Gmood1]

@ LTL Living in South, I'm sure they get to rob us blind!