The Truth and the Consequences
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store credit where you only receive $25 for spending $2,500, this rewards program is more beneficial. Yet another option is the American Express Blue Cash Everyday card. It offers 3% cash back on groceries, 2% on gas, 2% at select department stores, and 1% on all other purchases. As a bonus reward for new members, Amex offers $100 with $1000 spending within the first 3 months. It still outweighs the store credit card reward. Unless you are a devout and loyal shopper at a certain store, it is
far better to use a bank issued credit card. Many non-store credit cards have greater rewards than most retailers and often offer lower interest rates. Those who essentially receive any type of perks from store credit cards are those who frequently shop at one store and pay their balances in full each month. It’s important to know that paying off your balance every month keeps interest from accumulating. Otherwise, even if you are a frequent shopper, with the high interest rates of the store credit cards you will, in a sense, be paying to use the
store credit cards and to receive the so called "perks." Credit is an important factor in our society and we all want to make sure that we start-off strong and maintain a strong credit history. A good credit history will be the best reward you can receive while using credit cards. Do not make the mistake of falling into the temptations of going outside of your budget. Always be aware of what is in your pocket, and remember that it is best to keep your utilization percentage of your credit limit below thirty-percent (30%). If you abide by all the rules you will, in no time, gain the keys to open the door to privileged credit cards and save substantially when making those major purchases later in life.
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