The Great Credit Card Debate

Wednesday, April 13, 2011

How many of you have store credit cards? I admit that I have a few. Most of the time we are told that having a bunch of credit cards will lead to debt and could potentially look bad on your credit card report.  I disagree. If you manage your cards successfully, having store cards can actually save you money in the long run! Especially if you are a shopaholic like me.

I do not do a lot of vintage/thrifted shopping. I tend to shop from stores in the mall or at outlets. I've only recently started shopping in boutiques that are near my house.  Since I shop a lot, I like to be rewarded for spending my money.  Hence the store credit card.  I have cards for the following stores:

Victoria Secret
New York & Company

These are probably the 5 stores that I shop in the most.  Macy's always has coupons that you can use if you purchase with your card.  I am now a VIP Victoria Secret Angel Card Member so I get additional rewards. I get reward cards up to $30 every now and then, and recently received and email to receive a free deluxe sample of their new perfume without a purchase. I just have to present my card at the register.  New York & Company sends out birthday rewards, and Express sends out reward coupons for so many points that you receive on the card for shopping.  They range from $10 to $30 also to use in the store.  When I use my Target card I get an additional 5% off my total purchase automatically all the time!!

Why would I ever give up these cards? I wouldn't.  Because I shop in these stores so often, there's not point to get rid of these added benefits. Now I'm not saying you should run up the credit limits on these cards. But if you are good with credit.  Buy everything in the store on the card that you want and then go home and make a payment right away for the amount you put on the card! That way you get the points/rewards but do not get into credit card debt.

I do not recommend having cards for stores that you do not shop in all the time, because it's a waste of credit.  Just have a card in your frequent stops and enjoy the rewards!


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  1. These are great tips thanks. I only have a JC Penny card, that I'm still paying the balance on. I was thinking about getting the Macy's and Victoria Secret ones as well.

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  3. If you manage your money well, it doesn't matter how many cards you possess. However, I think it can be dangerous having too many, because you may loose count of some and maybe miss a payment or two...

  4. @Deja - I love my Vicky S one. I order bathing suits from there because they are the only ones that fit my chest!

    @Yen'Ney - I went to your blog and I like it too! But I didn't see a follow link?

    @Ag - I agree, still having too many can get out of control, especially if you have a "spend out of your means" issue.

  5. I think I need a card to Target, I shop there so much!

    - Meanz (Koi Story)

  6. I agree! I have store cards from my favorite stores because you get so many benefits. I have gotten so much free underwear from Victoria's Secret (to say nothing of the 'secret rewards' days where I once got $100!), and I get Gap money back and Macy's coupons all the time.

    I think the trick is to never put on more than you can pay off that month. Store cards often have huuuuuge interest rates, so like you said, the best way to use them is to rake in the discounts :)

  7. I should get a target card. I love that place and 5% off your entire purchase every time is a pretty great deal. Macy's has the best coupon deals as well. You know where else always has good deals like that, lord and taylor.

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  8. I personally don't have any store credit cards. I think having them would just tempt me to shop more often than necessary, especially with coupon offers and such. It's a good idea to only have store cards for stores you shop frequently, but I don't find myself at a loss for not having them. I also hear that store cards can have high annual fees, but I honestly don't know :)

    In general, you just need to be really really responsible with credit cards, and it sounds like you are, so I think you're good :)

  9. In England, they try to push these type of store credit cards to you and the incentive is always getting an additional discount with the card and we sometimes go crazy about that without thinking long-term. Nobody should end up in debt but I would actually get an asos card if it is offered since I spend so MUCH on that website! The I guess it is worth it, right?

  10. I dont have any store credit cards! I dont trust myself! haah

    Monique xx

  11. @Meanz - I love Target! I go there for like everthing!

    @Jenn - totally agree, never put more on the card than you can actually afford to pay off that month. That stops you from getting into debt with their crazy interest rates!

    @Jane - You are right. You definitely have to read the fine print on the credit card agreements. But if you make sure to pay off your balance every month you should avoid the fees

    @slayerbabe - yea that's how they real you in! haha, if you manage it successfully you can beat them at their own game, and still have discounts

    @monique - at one point I had cancelled all my store cards, but I still shopped in all the stores the same amount and I was just using my debit card. Then I was like wait, I don't get have the benefits using my debit card, so I opened my most frequent store cards back up! lol


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