I have three store cards which are Synchrony's Amazon Prime, Synchrony's Conoco, and Synchrony's Car Care. I am not using the Conoco card because I get better rewards with my other cards at the gas pump. I have the Car Care for tires and auto repairs because I can get interest free financing on charges over $200.
I will probably SD the Conoco card with a $1,150 CL to pad utility and AAoA until Synchrony decides to close it.
For the right person they can be just fine, especially for those that don't ever pay their high interest rates. The problem I see with them is that they mostly are aquired by people that do not PIF, and who are barely above the water line with their score.
I've had a few in my time, with the Walmart MC the only survivor. And the Fred Meyer Rewards MC, because i used to shop there quite a bit. But most were aquired when I was very young and uninformed. Luckily none of them were ever closed for non payment or any other negative reasons.
Personally I don't see any benefits to them now because I already have enough Bank CC with rewards systems. Plus I don't have any close enough to me to be worth the effort. I've considered the Amazon Card a few times, but like I saiud already have plenty rewards CC I can use.
Some store cards offer zero percent financing for x months on major purchases... DW and I take advantage of that as needed.
Same here. After the first intro offer years ago before the good rewards from current lineup, the SC's that i have are Util/AAoA padding except the Amazon as the 5% or promo financing is useful.
My partner shops at Macy a ton so I think he actually gets benefits from it. He's always getting store coupons and I've gotta say I've really upped my skincare game since he moved in so that's a tangential benefit for me
5% back from Amazon
5% back from Target
Tons of Kohl's cash and 30% off promos