Why You Shouldn't Open a Store Credit Card
3. Traditional cards may offer more substantial rewards.
Sure, you're getting a discount with a store card, but you're forgoing the points you would be getting if you charged your purchase to a lucrative traditional card that offers travel points or cash back, Kelly says.
Free gift certificates throughout the year may be another item stores offer to sweeten the deal of their branded credit cards, but the savings won't often be much more than 20% to 30% at any point, Kelly says.If you're still having trouble knowing exactly which rewards are better for your buying habits and lifestyle, Odysseas Papadimitriou, founder and CEO of Evolution Finance, the parent company of CardHub.com, says it's best to use a cash comparison. "It's very had to compare miles with points, etc. so the best option is to convert everything to cash and then see what's going to offer the most bang for your buck," Papadimitriou says. (TGT) frequently, for example, their card gives 5% off virtually every purchase plus makes a charitable donation to the school of your choice," Detweiler says. "I can't think of another card that gives 5% cash back on every purchase." Additionally, the Kohl's card may also be a good deal for frequent shoppers, Kelly says. Once you spend $600, you'll be eligible for 18 different deals and discounts throughout the year.
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