Hello everyone and welcome or welcome back to my blog! Today I want to talk to you about store credit cards. I used to have a couple of store credit cards and want to share my experiences with them, and maybe this can help you decide if they're right for you.
Store credit cards are quite interesting to me. They are like clubs that you can be apart of with exclusive deals and perks. Some people like to "flex" with what cards they have, and certain cards are status symbols for people.
When I had store cards, I only had them for a short time as I quickly realized they were not for me. For one, I was still in the early stages of building my credit, and the credit limits on them weren't that great.
In order to get a higher limit and show consistency, I'd need to spend more, but there was only so much to spend, and then I was left with the dilemma that if I spent too much it would negatively impact my credit. It was not the best situation.
Another thing that made me realize that store credit cards weren't for me was the fact that I could only use that particular card at that particular store. There are some cards where there are more places you can use them, but for many, they can only be used at the store the card is for.
Why was this a problem for me?
Well, the fact that I could only use the card at the store it was for meant that I shopped there more. I wanted to use my cards, and the only way to use them was to shop at their specific store.
I noticed that I was shopping at these places far more than I did or would before I got the cards simply because I wanted to get good use of them, get higher limits on them, and get the exclusive perks.
I ended up with just more stuff than I wanted or needed and more credit that I had to pay off for these irrelevant purchases.
All of that being said, I'm not a huge fan of store credit cards.
I feel store credit cards can be useful if you shop at a specific store or brand a lot, and if you'll shop there the same amount as you did before the card.
Store cards can also be handy if you love a store or brand and need to make large purchases that you may not want to pay all at once.
A great thing about store cards is that there are a wide variety of them, and there may be lots of options from your favorite brands if you feel that a store card is something that would suit you and benefit you.
Ultimately, the choice is up to you on whether a store card is the right move for you. I would recommend weighing out the pros and cons before getting a store card and get the details so that you know what you're signing up for.
Thank you for reading. I hope you enjoyed and that this post helped you in some way.
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