Store Credit Cards + Rewards
Many stores offer credit cards with store benefits. Now, I'm NOT promoting a credit card for a store JUST to receive the benefits. However, you might find that having one makes sense for you, and they can offer savings in other ways (just as long as you pay the card off, otherwise any potential savings is wasted through finance charges – YUCK!).
The Upromise Card (which we do have) offers decent rewards when you use it. You can also receive benefits if you have a Meijer Visa Credit Card. It is similar to other credit cards that offer rewards in that you receive a percentage of your purchase as a reward but the reward is a deposit into your Upromise account.
Read more about using Upromise eCoupons deposits.
Of course, if you are NOT using a store credit card, cash is a good option. However, I will admit I am not a cash shopper because I want the credit or debit card rewards benefits. I know Dave may not agree, but since we have changed our behavior with our debt payoff, it's working fine for us. If that changes, I consider using cash again. Or, if the 30 Days of using cash-only goes well this go around, we may be using cash more frequently.
Store Credit Cards, whether you personally like 'em or not, are a true value and benefit for consumers. You will have even more savings when you purchase items using your credit card rewards benefits. I know the cash-only crowds want to be sticklers about their budget and not going over, I am suggesting that people can control that even by:
- Utilizing the Store Specific Benefits and purchase Store Gift Cards, to
- Paying for your Stockpile Savings Opportunity (or everyday) purchase, while
- Using ANY Card that offers some sort of reward or benefit (even a debit card).
And, these tips go for anyone who shops at one store, grocery, retail, whatever, on a frequent basis and could benefit from a store credit card with a generous rewards program. We personally only have our Upromise Card that offers rewards points. However, we are considering getting a Kohl's credit card. We shop there a lot, especially when they offer Kohl's Cash! That would make sense for us, getting a Meijer or Kroger credit card wouldn't. It's different for everyone, but we like our benefits.
Do you have a store-specific Credit Card? Do you feel the rewards are worth it?
I am so glad to see someone make sense. The blogging world is a bit out of control with the “cash only” mantra. Carrying cash in the city where we live is too dangerous, so at the very least, I advocate a debit card. However, I prefer a credit card for the benefits. I stay in budget and get cash back. And I have a few select store cards I use because when they have a sale AND offer me 30% off, that’s when I buy whatever clothing I need for the next 4 months (I usually get these offers 2 or 3 times a year). I end up paying prices very close to thrift store pricing for BRAND new, brand name, really nice clothes. If I was a stay at home wife or mom, I wouldn’t bother with good clothes, but since I work, I need nice clothes sometimes.
I have found that using store credit cards offers very little, if any, benefits.
We actually use credit cards for almost all our purchases and then we get cash back (example – Discover card), but of course this only makes sense if you plan to pay the balance off 100% every time – which we do.
I’ve also considered getting a Kohl’s credit card because they give such amazing offers to cardholders, but I’m also concerned that when they do a credit check for our new card, this will actually hurt our credit. Do you know if this is the case?