Store Credit Cards: Do You Really Need Them?

Most of those who have store credit cards would say that it is the convenience and security that these cards provide them that helped them decide to have a store credit cards. Indeed, with a store credit card, you don’t have to prepare a lot of cash when you go shopping at your favorite department store.  You would also feel more secure walking around with only a card with you.

Store credit cards work like traditional credit cards. You can make purchases with the use of your card in some accredited stores. Each month, you have to pay a certain amount of your credit until it is fully paid. With a store credit card, you will be eligible to receive perks and discounts. But comparing it to traditional credit cards, store credit cards usually have higher interest rates.

If convenience and security are your only reasons to get a credit card, you may be on the losing end of things. Those perks and discounts may also be too small to cover the interest and penalties that you may incur should you have defaulted in your payments. But with the following scenarios, you should be obliged to get a store credit card.


When Purchasing in Bulk

Purchasing in bulk will mean you will have more discounts. Most store credit cards also offer you rewards when your purchase reaches the minimum amount that they set. If you have a meijer credit card, you will get $10 for every $750 purchase. $10 may not ring a bell, but when you purchase using your card a couple of times in a month with each purchase amounting to $750, it can sum up to more than you expected.

When You Are a Loyal Customer to a Store

If you buy all your goods from a store that offers credit cards to its customers, you should not think twice and apply for their store credit card to avail of discounts, perks, and rewards. You just have to pay each month so the interest will not eat up the discounts that you have accumulated each time you make a purchase.

When You Are Buying Online

If you purchase your supplies and other goods online, having a store credit card will do you good. They will deliver your purchase free of charge.

When You Are into Credit Building

Having a credit card can be your chance to build a good credit reputation. Just don’t miss on your monthly dues, and you are on the right track of increasing your credit standing, which may be beneficial for you in the future.

If you have these reasons, then applying for a store credit card may be a rational thing to do. But if not, maybe, you will be better off without it.

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