Comments on: Why Store Credit Can Be a Bad Idea http://www.askmrcreditcard.com/creditcardblog/why-store-credit-can-be-a-bad-idea/ Latest Credit Card News, Reviews and Information Fri, 21 Nov 2008 12:22:59 +0000 http://wordpress.org/?v=2.6.3 By: Jenna http://www.askmrcreditcard.com/creditcardblog/why-store-credit-can-be-a-bad-idea/#comment-76631 Jenna Thu, 17 Jul 2008 19:29:59 +0000 http://www.askmrcreditcard.com/creditcardblog/?p=547#comment-76631 Richard Thanks for your comment! I do agree that sometimes store cards can offer nice rewards. Now some stores are even coming out with Visa and Mastercard “Store Cards” that allow you to charge anywhere while earning rewards at those stores. That might be a different ballgame - something I’m going to have to investigate. Thanks for stopping by and giving us your opinion! Richard

Thanks for your comment! I do agree that sometimes store cards can offer nice rewards. Now some stores are even coming out with Visa and Mastercard “Store Cards” that allow you to charge anywhere while earning rewards at those stores. That might be a different ballgame - something I’m going to have to investigate.

Thanks for stopping by and giving us your opinion!

]]> By: Richard @ Student Scrooge http://www.askmrcreditcard.com/creditcardblog/why-store-credit-can-be-a-bad-idea/#comment-76619 Richard @ Student Scrooge Thu, 17 Jul 2008 14:50:44 +0000 http://www.askmrcreditcard.com/creditcardblog/?p=547#comment-76619 I agree that store credit cards are generally a bad idea -- the modest potential savings may be outweighed by the costs to your credit report and what not. That being said, I think there are certain circumstances when a store card can make sense, particularly when you're frequently spending a significant amount of money at one merchant, as the store card can *sometimes* offer better rewards at that store than you'd be able to get with any other cash-back/rewards credit card, plus these cards sometimes have worthwhile coupons. Anyway, I agree with your bottom-line advice to think carefully about opening a store credit card. I agree that store credit cards are generally a bad idea — the modest potential savings may be outweighed by the costs to your credit report and what not. That being said, I think there are certain circumstances when a store card can make sense, particularly when you’re frequently spending a significant amount of money at one merchant, as the store card can *sometimes* offer better rewards at that store than you’d be able to get with any other cash-back/rewards credit card, plus these cards sometimes have worthwhile coupons.

Anyway, I agree with your bottom-line advice to think carefully about opening a store credit card.

]]> By: Rob Schmidt http://www.askmrcreditcard.com/creditcardblog/why-store-credit-can-be-a-bad-idea/#comment-75803 Rob Schmidt Tue, 08 Jul 2008 22:18:52 +0000 http://www.askmrcreditcard.com/creditcardblog/?p=547#comment-75803 If you have visa or mastercard you should be ok without store cards. Just use store cards to begin your credit then get your visa nad mastercard. If you have visa or mastercard you should be ok without store cards. Just use store cards to begin your credit then get your visa nad mastercard.

]]>