El Dorado Credit Card Application $100 Bonus Offer

Where you can talk about store credit cards, like gas station cards, department store cards, etc.
2 posts
mwkinder
 
Posts: 2
Joined: Sat Sep 14, 2013 12:56 pm
Location: Palm Beach

El Dorado Credit Card Application $100 Bonus Offer

Postby mwkinder » Sun Sep 15, 2013 12:49 am

Great forum! I was reading on here that store credit cards are *usually* an unwise decision for credit scores and reports but have you seen what you get when you apply for the El Dorado card?
• No annual fee
• $100 free accessories gift offer included with your mailed BLUCard welcome kit
•Invitation to special private events*

Getting a $100 is pretty good for a retail credit account I think. Usually all I see is those 10 or 15% off one-day deals at department stores, but nothing from furniture or home furnishing stores.

I was at the store today and I'm going back either tomorrow or next weekend to buy the living room set I have picked. Should I pull the trigger on the application when I make my purchase? Seems like an easy way to get a free 100 bucks in merchandise and I could use that for a new lamp and rug I was going to buy anyway.

Let me know ASAP please because i might go tomorrow when they open at 11:00 am. Before I act on impulse, I want reassurance its the right decision! hehehe.


mwkinder
 
Posts: 2
Joined: Sat Sep 14, 2013 12:56 pm
Location: Palm Beach

Postby mwkinder » Sun Sep 15, 2013 1:56 pm

I went and talked with the store today on Wellington Boulevard today and found out that this is how it operates.

After you apply for the credit card from El Dorado Furniture and make your first purchase and payment, they send a $100 certificate that can be used for accessories only. The sales rep I spoke to was helpful and she said things like rugs, mirrors, lamps. I don't think you can use it for furniture.

But the zero interest financing promotions are disappointing:

- $500 spent = 6 months
- $800 spent = 12 months
- $1,500 spent = 18 months
- $3,500 spent = 24 months

The thing is though is that this is deferred interest, if I I understand correctly, and that means they charge you the interest retroactively if you don't pay it off before the time is up. The APR is 27.99% too. I guess Wells Fargo manages it.

After seeing that, I might pass. Or if I do go with it, I will transfer the balance before the time is up because I don't want the retroactive 27.99% interest being charged to my account.



Return to “Store Issued Cards”

Who is online

Users browsing this forum: No registered users and 0 guests