BUT… Are Department Store Credit Cards Beneficial?
SAVINGS ALERT: Earn 5% cash back at Macy’s with this Citi Card until 12/31/12 when you enroll.
With current state of the economy, it makes us wonder if credit cards are a good idea. With all of the high interest rates it is hard to rationalize that credit cards can be good to have. People find themselves wondering on a daily basis if there is enough money to even pay the simple bills, buy food, and pay for housing.
Credit cards can provide instant money in any situation. Money is readily available for almost any purchase necessary. The downfall is, the money does have to eventually be repaid. There are several ways that the money can be repaid. The money can be paid in a lump sum all at once. Monthly payments can be made on the balance owed. The payment is based on a set amount plus the interest fee.
With the shortage of funds, jobs lost, and poor economy daily purchases can be virtually unaffordable. Department stores offer credit cards that can be obtained to use on purchases in their store. Some companies offer credit cards that can be used in several different stores not just theirs.
There are many benefits to having department store credit cards. Companies like Macy’s offer their shoppers with the option to qualify for a store credit card. They are constantly offering shopper with special benefits for signing up for their credit card. The have been know to offer consumers with 10% to 50% of purchase for applying for a Macy’s credit card.
Most companies offer different types of cards that the consumer can apply for. Usually there are several different department store cards that you can apply for. By checking all of the requirements for each card an educated assessment can be obtained on what card to apply for. Be sure to check the rewards with each. Make sure to apply for the card with the lowest interest rate and the best rewards.
They also offer consumers with a special rewards program. Many companies will offer there consumers with specials or gifts for using there cards for purchases. Macy’s offers their card holders with a rewards program. Once a preset purchase limit has been met, they will send you a $25 gift card.
Department store credit cards are be a great way to save money. They allow for purchasing of products and gifts in the time of need. There is not need to immediately have the cash on hand. They more spent on a card, the more rewards available. The holidays season is “always” fast approaching. Ask what specials are available with department store credit cards. A big savings could be available if you take this plastic with you shopping to your local malls.
Further resources on the top Retail Cards Listed and posts on help with paying off your balances even after a heavy duty Christmas or Holiday Shopping spree.
Similar cards: J.C. Penney, TJ Maxx
