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Thread: Store credit cards

  1. #1
    Member InternalAudit is on a distinguished road
    Join Date
    May 2010

    Store credit cards

    I am always wary about credit cards and I just wonder what is the advantage of having all these store credit cards over having just one or two credit cards?

  2. #2
    Member Theseeker is on a distinguished road
    Join Date
    Jul 2010

    Re: Store credit cards

    There is only a small advantage but it isn't enough. This means it is a disadvantage. You might save a small percentage by using a store credit card. Here is the problem. Having a lot of charge accounts open looks VERY bad on your credit report. If you open an account and more than one or two stores and have one or two credit cards it is already effecting your credit score more than the percentage of savings. If you get one then only get ONE and try to shop at that store a lot to get the discount. Other wise these are very bad things.

  3. #3
    Banned farah is on a distinguished road
    Join Date
    Jul 2010

    Re: Store credit cards

    I knew a lady who had 25 total credit accounts. She had 3 regular CC and then a charge card for all the different stores around. She asked my why her credit report was so bad and I tried to tell her the same thing. It is so much better to have 1 or 2 cars that can be used everywhere then a lot of cars that can only be used in one place. The discount they offer isn't worth it in the end.

  4. #4
    Member bumpercrop is on a distinguished road
    Join Date
    May 2010

    Re: Store credit cards

    Aha! I knew that these store credit cards were bad but my mother would not listen! I am with you there, bro Internal. I am wary about there store cards too.

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