Any "Did I really need that card?" moments?

Where you can talk about store credit cards, like gas station cards, department store cards, etc.
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CarefulBuilder14
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Any "Did I really need that card?" moments?

Postby CarefulBuilder14 » Fri Apr 03, 2015 11:28 pm

Has anyone gotten a store card (or any card) and later realized...

1. You already have another card that gives better rewards?

2. You don't need the perks, or can get them another way?

3. You just aren't going to shop there much in the future?

Or anything like that?

If someone had limited credit, then getting a store card out of desperation is more understandable. I'm wondering more about cases where a person with at least one prime card and an adequate limit gets a card that has little or no clear benefit.

I save enough with Brooks Bros to make it worth it for me, but I see some other cards here (and more on MF) and really wonder how much value they offer to their owners.

On a related topic...

It can be tricky to balance good rewards with credit simplicity. I find a second Amex (BCE) useful enough to keep now that I have it, but it is a card that I didn't really benefit from getting (except maybe my CSP limit would have been a tad lower without it).

I got it so I'd have an Amex in place if I later wanted to close PRG. My plan to get an Arrival is, similarly, to have a card in place for when I will eventually need a Chip+PIN MC. I haven't actually made specific plans to travel to a Chip+PIN country soon, though.

Does anyone have any good ways to balance preparedness with simplicity?
Love: IHG, Platinum, Sallie Mae, AA Plat, CSP
Like: Discover, ED, BCE, Hyatt, Arrival, Freedom
Might drop: BrooksBros, Prestige (Costco PC?)
Might add: Proper business card, CSR, Ritz, Delta Gold
Letting new accounts cool off since May
Really not sure what I'll add next or when


babyscandal
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Postby babyscandal » Sat Apr 04, 2015 9:38 am

I got barclay's when I bought my iPad. Deeply regreted

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CarefulBuilder14
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Postby CarefulBuilder14 » Sat Apr 04, 2015 10:46 am

babyscandal wrote:I got barclay's when I bought my iPad. Deeply regreted


Did you only end up using it once? You didn't like the card's terms? Or you found you could get better rewards with a different card?
Love: IHG, Platinum, Sallie Mae, AA Plat, CSP
Like: Discover, ED, BCE, Hyatt, Arrival, Freedom
Might drop: BrooksBros, Prestige (Costco PC?)
Might add: Proper business card, CSR, Ritz, Delta Gold
Letting new accounts cool off since May
Really not sure what I'll add next or when

babyscandal
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Postby babyscandal » Sat Apr 04, 2015 11:56 am

The promotional financing only good for the first purchase. It's not like the Best Buy Store Card which you can finance any purchase that meets the requirements. The Barclays doesn't offer any rewards, the interest rate is high although I did not pay interest charge. I should've financed with Best Buy, or get 5% with Discover Deals

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CarefulBuilder14
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Postby CarefulBuilder14 » Sat Apr 04, 2015 12:22 pm

I just did some research into the card. I knew it was nothing great, but didn't realize just how unappealing it was. The promotional financing terms definitely discourage repeat business.

It looks like it does have rewards in the form of Apple gift cards, but you need to spend $834 there (earning 3%) to get a $25 GC. I'm not sure if money spent on taxes and shipping will earn rewards, but I don't see any language that excludes it.

5% with Discover Deals definitely sounds better.
Love: IHG, Platinum, Sallie Mae, AA Plat, CSP
Like: Discover, ED, BCE, Hyatt, Arrival, Freedom
Might drop: BrooksBros, Prestige (Costco PC?)
Might add: Proper business card, CSR, Ritz, Delta Gold
Letting new accounts cool off since May
Really not sure what I'll add next or when

babyscandal
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Location: Texas

Postby babyscandal » Sat Apr 04, 2015 4:53 pm

I got it in 2012 and there was no rewards at all. I cancelled after I paid my iPad. It's not like I didn't have enough money to pay for an iPad, but I thought it would be cool to spread it out small payments to retain a little bit more cash in my pocket. By the time I figure it was good for only once, I was like "ugh". 6 months later, I cancelled. They did give me, however, $3000 limit.

JamesMS
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Postby JamesMS » Thu Apr 16, 2015 8:12 am

CarefulBuilder14 wrote:I just did some research into the card. I knew it was nothing great, but didn't realize just how unappealing it was. The promotional financing terms definitely discourage repeat business.

It looks like it does have rewards in the form of Apple gift cards, but you need to spend $834 there (earning 3%) to get a $25 GC. I'm not sure if money spent on taxes and shipping will earn rewards, but I don't see any language that excludes it.


Doesn't sound like the card really has any benefits.
Main Cards:
Amex BCE
Amex Everyday
Bank of America Cash Rewards
Chase Freedom
Capital One Quicksilver
Citi Thank You Preferred

Spark Cash Back (Business), Amex Plum (Business)

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lobbythis
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Postby lobbythis » Thu Apr 16, 2015 12:13 pm

I avoid all mistakes by just sitting back and watching all the morons at myfico

JamesMS
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Postby JamesMS » Thu Apr 16, 2015 10:16 pm

lobbythis wrote:I avoid all mistakes by just sitting back and watching all the morons at myfico


Never been on the site. Is it really that bad?
Main Cards:
Amex BCE
Amex Everyday
Bank of America Cash Rewards
Chase Freedom
Capital One Quicksilver
Citi Thank You Preferred

Spark Cash Back (Business), Amex Plum (Business)

kdm31091
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Postby kdm31091 » Fri Apr 17, 2015 3:40 pm

MyFico has a lot of people pushing people to app for things they don't really need, especially if there is a bonus. Not everyone on there is like that, and there are some decent people but the majority opinion is "app app app churn bonus" you get my point :)



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