What is the point of store credit cards?

Where you can talk about store credit cards, like gas station cards, department store cards, etc.
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Postby goodygoody » Sun Apr 15, 2012 4:50 pm

I have a Children's Place card that gives me an extra 5% off every time I shop. I really like it, and make sure to pay it off before I get charged interest. I buy all my kids' clothes there. They have great sales and send extra coupons in the mail - and you can always add the extra 5%, even when you use a coupon. I'm happy with it.

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Postby PopiLopi » Sun Apr 15, 2012 7:39 pm

I like the Macy's card because it gives you 20-30% discounts just for paying with the card... usually I pay off the purchase the same day, but use the card for the discount...

I also like store cards like best buy or amazon, that give you the change to pay over time big purchases without interest...

I see credit cards in general as cash flow management tools, which can help you a lot if you know how to handle them...
Amex: Business Platinum (09/12) BCP $10,500 (03/13)
Visa: Capital One Journey $750 (04/11) Chase Freedom $1,800 (04/12)
MasterCard Citi AAdvantage Platinum Select $8,500 (05/13)
Discover: Discover It $2500 (07/11)
Store Cards: Amazon $3900 (12/11) Macy's $500 (04/11) Kohl's $500 (05/12) Victoria's Secret $750 (11/12)

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Postby Celestine » Sun Apr 15, 2012 9:39 pm

Cucumber wrote:I don't get why people sign up for all these individual store cards. They all give the same friggin' rewards! And then what's the deal with so many different cards that may give different rewards (cash back, gift cards, miles but at the end of the day they equal out to be only 1% rebate on your spending (1 cents per dollar spent)

Are people really this stupid that they don't realize these gimmicks???

One of the many reasons for store credit and charge cards... data mining. The stores needs information on customers' buying habits, demographics, and such to provide the right products and accurate product inventory in the area. Another is to fish new customers by marketing "sales" or "savings" even though there is no savings or savings amount are negligible.

Personally, store cards are not worth getting if you have other cards that will give you better rewards that you can spend on other places instead of spending those rewards on a specific retailer.

The only time I went to apply for store cards is when I was still a complete newb on credit and charges card - Mervyns; if anyone can still remember that retailer. And another time was when I needed to replace all four tires of my car; just took advantage of six months no payment zero APR. After that that card went to my storage.
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