Store credit cards – which ones are worth having?
Target has it, Walmart has it, Macy’s has it, Kohl’s has it – you name the retailer and they most likely offer a credit card for its stores.
But which ones are worth signing up for and using?
MyBankTracker.com, a website to educate consumers, names Target’s REDcard, Kohl’s credit card and Amazon’s Visa as worthwhile credit cards.
The REDcard, the website says, is worthy because it has no annual fee and gives card holders a 5 percent discount on their purchase every time the card is used. It also means free shipping on online purchases and an extra 30 days for returns. The downside, the site says, is 22 percent APR.
Kohl’s credit card also has no annual fee and gives cardholders monthly discounts from 15 to 30 percent off. It carries a 22 percent APR.
Amazon.com Rewards Visa was noted for its point system. Users earn three points for every dollar spent at Amazon.com, two points per dollar at gas stations, restaurants and drugstores and one point per dollar on all other purchases. The points can be redeemed for discounts on Amazon.com purchases, cash, gift cards and travel. Its APR ranged from 13 percent to 21 percent depending on the card holder’s credit history.
In other card news, PayPal has come out with a prepaid Mastercard that allows consumers to load money onto the card so they can shop online without using a regular credit or debit card. The cards are available at CVS, Rite Aid, and Dollar General Stores.
Which credit cards would you add to MyBankTracker.com’s list?
December 17, 2012 - 11:51 AM
We have both an Amazon.com store card (6/12 month no-interest fina ncing…some items available for 24-month financing) and the Rewards card…gives us flexibility in buying since we are using Amazon more than ever now. I also like the Best Buy card for their financing options…it’s how we’ve managed to upgrade technologically into modern times with an HDTV, smart Blu-Ray player, PS3, and a tablet. I also like the Lowe’s card, because it offers special financing options during specials at the store, or 5% off daily transactions.
None of them!
I have a very good credit score, so there’s no way I would sign up for a 22% card. I have a visa through my credit union that’s 5.99. I transferred my balance from my BofA card that’s 14.99. I also prefer not to do business with GE, which is who many stores have their cards set up with. However, I recently had to purchase a new range and by signing up for Lowes card, i got 24 months no interest, and I’ll make sure its paid off way before that. I think that is the key with the cards, pay them off or your rewards will be negated by the interest.
Sticking with the old faithful Amex Delta Miles
None of them! You all seem excited you get great financing deals from these stores. If you have cash you can barter. Most stores are open to this.
My husband and I have amazon.com Visas and we love them. We put everything on the card and my husband pays off the balance every month. The points system is great – they accrue in your account on the site itself now (they used to send out paper gift certificates in $25 increments). I bought a pair of $150 boots and ended up paying all of $33 for them a few months ago thanks to amazon points!
@Bradley: Are you telling us that you can go Target or Kohls and barter with a cashier? Doesn’t seem likely….tell us more.
Most appropriate call Amanda.
Certain types of businesses are constantly inundated with the customers “Is that the best price?” “Give me a discount!” How many times have you heard someone in Kroger, or wherever, saying I’ll give you a dollar for this loaf of bread???
Our Kroger card gets us gas discounts and they periodically offer extra points for buying gift cards there. If you drive a lot like we do, it’s a nice advantage. They also send rebate checks, although those can only be used at Kroger.
Susan is exactly right. These cards can offer a lot IF you pay them off at the end of the month.
Best Buy- you can’t beat the 3 years 0% interest deals they have on major purchases.
I’m not talking about clothing stores etc. However, store such as Lowes, Home Depot, Furniture Stores – the places where you would make high dollar purchases. The key to bartering is to be willing to walk away from the item if they will not work with you. Cash is the best way to go!
Furniture is traditionally an item that can be negotiated, like vehicles. The same holds true for appliances in many stores. There is nothing else in Lowes or Home Depot that you can negotiate the price, and there’s virtually no negotiating on appliances.
Having cash doesn’t suddenly allow you to negotiate pricing. Only the items that have historically been negotiated pricing are open to that, and it is not because of waving cash in front of the sales clerk.
Paying in cash is nice, but it eliminates your credit rating. Much preferred is to have zero fee credit cards that are paid in full every month without fail.
Kroger and gas rebates the best gig going. Most other retailers espouse 5% discounts and tracking your past purchases. Mosy savvy consumers can remember their buyong habits, especially at Lowes and Home Depot. If you do ot like a plan you are own switch it, your own fault if not pleased, Use some self regulation in your own world.
Valley Bank also offers a good debit card program should you be able to qualify with their stips.
Is the Victoria’s Secret credit card worth it?