Now that we’re done with part I and part II of our store credit card reviews, here are some final comments about store credit cards.
Sure there’s pros and cons, but overall if you have decent-to-good credit, it’s best to avoid store credit cards like the plague. The little discount you get from these cards isn’t worth it, because it’s a one-time discount for a life-time card. Why use a store credit card when you can use your regular credit card (which builds your credit also). Your real credit card can also earn airline miles or rewards points, which your store credit card doesn’t have.
Store credit cards should only be used if you feel that you can take advantage of the store. Either by using the card to raise your credit score, keep more of your own money longer, or to get yourself a discount, without ever paying them a dime of interest.
Finally, remember, store credit cards aren’t offered for your benefit, but for the store’s benefit.
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