Power4Mag

Should I Use a Store Card? What Are the Benefits?

Credit Cards and Debt Editor's Picks

Should I use a store card? This is a common question among credit card users. These days, more people are becoming aware of the benefits of credit cards and are asking themselves if they should be used or not. There are advantages and disadvantages associated with using these plastic cards and it is important that you know about them before deciding whether you should be using it or not. The following are some of the advantages and disadvantages of using store cards:

He can help improve your credit rating. Click here.

Advertisements

|

Should I Use a Store Credit Card

Should I Use a Store Card? What Are the Benefits?

These days, more people are becoming aware of the benefits of credit cards and are asking themselves if they should be used or not. There are advantages and disadvantages associated with using these plastic cards and it is important that you know about them before deciding whether you should be using it or not. The following are some of the advantages and disadvantages of using store cards

They can save you money. Store cards are basically just like a regular credit card but instead of making purchases with your credit card, you use your store card to make purchases. The good thing about store cards is that you do not need to make monthly payments as with a regular card. The amount of money you spend will depend on how much you shop in a month.

Should I use a store card?

They are convenient. As mentioned earlier, store cards are basically just like a regular credit card but instead of using your credit card to make the purchase, you use your store card to pay for it. You can either make your purchase online or at the store, whichever one is simpler.

They are widely available. Store cards are available everywhere and you can use them at almost every retail store. They are generally accepted almost everywhere and you do not need to worry about having to make the payment at any point because they will be there waiting for you. Of course, this comes with a disadvantage as you have to wait for your card to arrive but at least you do not have to carry the card around with you all the time.

This is a common question among credit card users.

-I do not have to pay interest. As mentioned earlier, these cards are like regular ones, but they come with a few benefits. First of all, you do not pay any interest when you use your card to make purchases. Also, if you do not pay your balance in full each month, you will never pay any interest. Of course, you cannot really expect to get the best deal on store cards as the interest rates are usually pretty high but at least you will know that you will not be charged any interest on your balance payments.

I do not have to keep my balance low. Of course, having to keep your balance low will help you keep your payments low. However, if you want to pay less interest, you would be better off getting a regular credit card and then transferring your balance from that to a store card. This way, you still have your regular credit card, but it has the zero interest feature.

I get to choose where I use the card.

This is really important especially if you have a lot of merchandise to buy. You get to choose which month you get to use your store card for and when you get to use the credit card for shopping. This way, you can plan your purchases so you know exactly how much money you need to set aside each month to pay for whatever you want to buy.

-I get to keep my credit score high. If you are a good student and you do not have many credit problems, getting a store card can be great because this will give you an upper hand when it comes to credit. When you have a credit card, you get to pay for everything you buy using just a swipe of your card. This can really help you if you are looking to rebuild your credit score and you want to rebuild your credit quickly.