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Store Credit Cards - Rewards & Drawbacks

submitted on December 19, 2010 by pablos17 in "Member's Lounge"

Pitches to save an additional 10 to 15 percent on a day's purchases by opening a store credit-card account can sound pretty appealing. You might also be attracted by the cards' additional benefits, such as access to special sales or discount coupons.

But store credit cards have some significant drawbacks. And opening up too many accounts can lower your credit score.

To help you decide when to say yes to a store card and when to decline, we've outlined how the programs generally work and their pros and cons. We also looked at programs offered by some of the largest retailers to find the most generous ones. You can find the details in Best store rewards cards.


  • 92490
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    Posted by CouponNut on December 19, 2010
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    If you want the extra discount for opening store account, its best to know you will get the credit card, otherwise, applying for instant credit and getting denied will lower your credit score which is based on number of inquiries.
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    Posted by deby32953 on December 19, 2010
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    I have a lots of c.c.'s for lots of stores & I get a ton of email, & snail mail coupon/codes. I might use them to get a further discount but make sure I pay them off at the end of the month if not sooner so I pay no interest & don't accumulate any debt. Gap once sent me a $20 coupon code for having their Gap Visa card & I hadn't even used their card yet & on my birthday I was swamped with free gifts/e-certificates.
    • pablos17
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      Posted by pablos17 on December 19, 2010
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      You're smart for paying them off at the end of the month. Lots of store cards do offer some decent extra perks. At JC Penney they are always sending out $10 off $10 and $15 off $15 offers to cardholders.

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