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Do you enroll for Store Credit Cards? What are the benefits/non benefits

Discussion in 'Money Matters' started by SriVidya75, Dec 5, 2011.

  1. SriVidya75

    SriVidya75 Platinum IL'ite

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    Has anyone of you enrolled for store credit cards? if yes, why did you opt for it? is it for the extra discount they give if you have a store card? any down sides to it?
    isnt it like having too many cards on your name.....lets discuss...


    coming to our experience...we have not enrolled for any store cards till now.....and recently while shopping, some of the stores have suggested to open the store card and they went on and on about what are the benefits they give etc....but every store offering the card...and if we take those cards...its like never ending trackin gof the cards....

    what are your thoughts ?
     
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  2. Uttaraa

    Uttaraa Platinum IL'ite

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    Erm..the BIG disadvantage is the premium call rate to the customer service contact of these store cards.
     
  3. SriVidya75

    SriVidya75 Platinum IL'ite

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    Is it the same for store cards in US also?

    We just avoid the cards only for the reason that too many cards and it just tough to track cards and we never when rules change and what kind of ffee they start charging iwthout we noticing!!!....
     
  4. pman16

    pman16 Platinum IL'ite

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    Even we hv not taken any of such cards and the store persons sometimes give us a puzzled look if they say "what you dont want to save dollars' :(

    Everything is a catch in US, we hv to be careful else will be ripped off.
     
  5. SriVidya75

    SriVidya75 Platinum IL'ite

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    I was just watching a program where some finance guru has suggested, taking store cards for stores that sell groceries....because usually people who are on the emailing list of the stores or who have store cards get the info emailed about which products are recalled back etc.....and this way we know what products/foods are dangerous and can avoid consuming/using those products/produce.......good thought though!! but our indian stores do not have store cards hehehehe (which It hink they are the ones that are supposed to offer....because we see lot of the stuff in the stores sometimes has expired dates)
     
  6. alaivani

    alaivani Senior IL'ite

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    Hi ladies.

    I am an American. I struggle with taking store cards myself. I have to see what is the benefit.

    If it is a store I shop at a lot, I am more inclined to get the card. You can get benefits like sale prices (without the card you will pay full price- see the receipt!), possibly stack up points to free items, and some rare grocery stores store your points so you can get free gas! Now this free gas comes after buying a few months of groceries for families of four or more, but people in my family used to get free gas from buying groceries at a store called Price Chopper (central New York).

    That kind of store card is free for you. Also if you decide to pay with checks at the checkout at grocery stores, a store card is required. They'd keep your bank information on it to process your checks. Now a days most people don't do this as they use credit cards. You don't need to give your bank info unless you want to use it to pay your groceries with checks.

    Some stores will have you pay a yearly membership fee to get benefits. Stores like Barnes and Noble (bookstore) have a fee for yearly discounts (everything you buy gets 10-20% discount including food in the cafe, so long it's bought in the bookstore - I mean Starbucks is in in B and N, but you can't use B and N discount at Starbucks not inside the B and N stores). Other big warehouse stores like Sams club (often frequented by desis) have a yearly fee and you get items in bulk for a cheaper price than in other stores. I personally don't shop there, so ask any of your other Desi friends (Costco and BJs are two other names of similar stores).

    Some restaurants like Subway will give a discount card. You have to buy so many sandwiches or coffees (if a coffee shop) and everytime you buy one, if you present the card, they will punch it. After 8-12 purchases you get a free coffee or sandwich. If you frequent the same shop daily this will be useful.

    Now a days such store cards are becoming popular in India too. I live in Kochi and one card is being used for multiple places to rack up points and get free merchandise. I hope what ever is free is useful to me, or I will leave it behind!

    Good question!!!
     
  7. lovelife6

    lovelife6 New IL'ite

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    You dont have to get cards for all the shops, just the ones u like or shop frequently will do.Like for example if u walk into Macy's all the items they have on sale can only be purchased for that price only if u have a macy's card.If u do get a store card check the APR rate coz most of them are high and I usually pay it off in full.
     
  8. alaivani

    alaivani Senior IL'ite

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    lovelife6

    Your message refreshed my memory- there are different kinds of store cards.
    A Macy's card I believe is a credit card. This is an enhanced kind of store card. To get this card they will check your credit history and take your Social Security Number.

    For other store cards that are purely for discounts and NOT directly used to pay for stuff with- they will NOT take your credit history or SSN. They would take your name and address. If you use that store card to cash bank checks with then they'd take your bank account number and SSN.

    I hope this clarifies any further doubts (questions.)

    Jennifer Kumar
     

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