Who else have no store cards?

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

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@Anonymous wrote:

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@Anonymous wrote:

I have a total of 10 cards: AMEX Blue and AMEX Sky, BOA AMEX, ATT Universal, PenFed Rewards, Discover More, Chase Freedom, USAA Platinum, Citi Platinum and Walmart Discover.

I do not like store cards- not just because of the high interest rates. 

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You have Walmart, that is 1/2 store card.   Do you not like it?

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To me its a Discover card because it offers some of the same features of a regular Discover card.  The store card is basic. 

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So why not get a regualr Discover onlly, so you can be pure in your dislike for store cards?

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I already have the Discover More card. I got the Walmart-Discover for the FICO.

[Anonymous]

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@Anonymous wrote:

I dont have any and I wont ever get one. 

Now don't get me wrong, people with store cards have every right to have one, they just aren't for me I'd rather just use one of my CC's.

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I would never expect your preferences to have an influence on my rights.    I hope you feel the same way.

[TNTransplant]

Right now I have a "just upgraded from basic" Walmart Discover (rarely use, free FICO), Amazon (love/use this one for the 0% financing offers).  I also have Sears (never use except 3-4 x/yr to keep active), and my PayPal Smart Connect (will never use except 3-4x/yr to keep active).  However, since there are no AFs and it helps with overall utilization, I'm keeping them all until the creditors close them down.

If I had it to do over, I would probably be more selective about what store cards I obtained.  I would keep the Walmart Discover for the score, and maybe the Amazon, but really nothing else.

Any particular reason you don't like store cards?

[Anonymous]

I got an American Eagle store card, back when we were all going on about how you need a store card to improve your "credit mix."  I'm pretty sure that myth has been debunked, though.

I only used it the one time, because I got a substantial discount.  The only other "store card" I may want is an Amazon card.

[Anonymous]

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@TNTransplant wrote:

Right now I have a "just upgraded from basic" Walmart Discover (rarely use, free FICO), Amazon (love/use this one for the 0% financing offers).  I also have Sears (never use except 3-4 x/yr to keep active), and my PayPal Smart Connect (will never use except 3-4x/yr to keep active).  However, since there are no AFs and it helps with overall utilization, I'm keeping them all until the creditors close them down.

If I had it to do over, I would probably be more selective about what store cards I obtained.  I would keep the Walmart Discover for the score, and maybe the Amazon, but really nothing else.

Any particular reason you don't like store cards?

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With a store card, I feel that I'd be forced to shop there even if they don't have the lowest price on a particular item.  I like the option of being able to use a card anywhere. 

[jamesdwi]

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@pipeguy wrote:

To me store cards, if used correctly, are great to have.

I use store cards for their free interest promotions for larger purchases. Firestone Card = 6 months no interest for car repairs or tires over $249. Amazon has great extended payment offers as standard fare, $149 = 6 months, $499 = 12 months and there are 24 month plans/offers for TV's and other large purchases. Walmart store card = free FICO and "free" cash at the register up to $60. Dell offers extended payments at 0% APR offers, etc.  

The "got ya" on these offers is if you don't pay in full by the end of the promotion or make your basic monthly payments they charge you interest (and its a fairly high rate of 24% -30%). I generally pay these extended offers off in 3-4 months, even the 12 month plans, but still its nice to have the option of extended payments at no interest.

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Yeap  do all the same for most of those reasons, and then add in great CLI's every 4-5 months they also have some of the best prices for things I buy. Just spent $159 at amazon yesterday no interest for 6months, and free shipping, and will probably make  $50 a month payments untill the its paid off why tie up funds on a prime card when i can use my amazon card interest free. Perhaps by the time I am done with the payments the amazon card CL will be bumped up  again. 

[TNTransplant]

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@Anonymous wrote:

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@TNTransplant wrote:

Right now I have a "just upgraded from basic" Walmart Discover (rarely use, free FICO), Amazon (love/use this one for the 0% financing offers).  I also have Sears (never use except 3-4 x/yr to keep active), and my PayPal Smart Connect (will never use except 3-4x/yr to keep active).  However, since there are no AFs and it helps with overall utilization, I'm keeping them all until the creditors close them down.

If I had it to do over, I would probably be more selective about what store cards I obtained.  I would keep the Walmart Discover for the score, and maybe the Amazon, but really nothing else.

Any particular reason you don't like store cards?

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With a store card, I feel that I'd be forced to shop there even if they don't have the lowest price on a particular item.  I like the option of being able to use a card anywhere. 

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Gotcha.  Now that I just got approved for an AMEX BCP, I can see why it would be advantageous to run everything through one card for the rewards.  And as you mentioned, the flexibility of shopping wherever you want.

[Anonymous]

Oh yeah, I also have Home Depot, but that's a must have.  It's a no brainer.  Built a deck interest free.  Fenced in the yard interest free.  Redid the bathroom interest free.  And the $3000 limit helps with utilization.  I may ask for a CLI down the road, but most of my projects are <$3000.

[injustifiiable]

I sure don't have any. Never have.

I wouldn't mind an Old Navy or Target though.

[bichonmom]

I only have Walmart and am hoping it will upgrade to WM DIscover. I only got it for the FICO, though I have used it @ WM a few times to keep it active. Always PIF before statement, and am forgoing any rewards I'd get from using one of my bankcards, because I do want it to be active for CLIs and upgrade to Discover.

I don't think there is anything wrong w/store cards, but #1, they tend to have outrageous % and #2, if you get a lot, they'll lower your AAoA. Also, I haven't really found a store card that gives me rewards worth getting. (I depends on where you shop. )

I've been tempted by Amazon, but haven't bought anything there to take advantage of their financing offer.

Way back when I had CCs before, I had a gazillion store and gas cards. Now, I am having enough of a challenge keeping track of the cards I have and making sure everything is paid on time and keeping them active. If I added a bunch of store cards to the mix, it would lower my AAoA and make it too hard to juggle all of the cards.