Using Store Credit Cards for Holiday Shopping

Five Benefits to Using a Store Credit Card

1. Store Credit Cards Are Easy to Obtain
If you aren't able to qualify for a traditional credit card, you may still be able to qualify for a store credit card. The issuers of store credit cards are usually more willing to offer cards to those with bad credit, although the interest rate will likely be high. This can be a great starting point for a person with no prior credit history, or for someone who is rebuilding their credit after a bankruptcy.

2. Some Retailers Offer Extra Discounts
Stores such as Macy's and Kohl's offer special promotions for cardholders - not just during the holiday season, but all year round.

3. You Can Often Get a Discount Just for Signing Up
Many retailers will offer immediate discounts when you sign up. If you've got a pile of big-ticket items on your Black Friday shopping list, that 10% or 20% discount can go far. However, keep in mind that there may be other credit card sign up bonus offers that are much more attractive.

4. You Can Earn Points or Other Rewards
If the card can be used outside the store, some retailers will even give you extra points for using it. Earning points and rewards can pay off quickly if you obtain a store card at a retailer you frequent.

5. Many Store Credit Cards Offer Special Financing
Many retailers will offer special financing if you use their store credit card, especially when you make big purchases. If you can finance a purchase for 12 months with 0% interest, that's certainly better than paying regular interest!


Next Page - Five Downfalls of Using a Store Credit Card

November 14, 2011
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