Cash The Checks

This is part two of our review of store credit cards.. Now let’s look at several reasons that you should get store credit cards..

• If you have such an amazing control over yourself that you won’t buy more things at the store than you would usually do, then sure, take the initial discount, pay it off, then rip the card into pieces and never use it again.
• You’re more likely to qualify for a store credit card than a regular credit card. So if you have bad credit, get a card or two, use it whenever you are at the store, make your payments on time and build your credit.
• 15% off just for getting the card? If you’re buying something big that costs a lot of money, 15% off of a $2,000 HDTV is $300 off! So take the card, get the discount, and pay it off before accruing any interest.
• No payments for one year? Great, you get to keep more of your own money for longer, all while enjoying the new refrigerator or furniture you just bought. But who knows whether you’re going to have that kind of money available a year down the line? What you could do is deposit the cost of the furniture into an interest-earning savings account, then remember to withdraw it to make your payment when the due date nears. $2,000 @ 5% APY earns you $100 in 1 year. So take it as a $100 “rebate”.