Store Credit Cards: Are They Worth Getting?

Credit cards, credit cards, credit cards! Many of you probably have a love-hate relationship with them! Whatever your opinion is, you certainly can’t live without one. I’ve had quite a journey to come to a place where I don’t think credit cards are of the devil. Haha.

As a frugal girl, I used to be adamantly against them, refusing to open one, despite all the enticing offers and constant junk mail. I didn’t see the necessity of one, and simply thought it was a cruel way for companies to profit off your spending. After graduating college, I soon realized the value and importance of building credit and had to take the dive into applying for my first credit card. I ended up just getting a basic credit card that I would just pay off at the end of every month. It was a simple, quick way to build credit. Then I ventured into the world of rewards credit cards! As a penny pincher, the idea of getting rewarded monetarily for doing regular spending is a no brainer! There are so many great rewards cards out there, but I wanted to focus on retail store cards for this week’s post for all the fashionistas and shopaholics out there!

We’ve all been at the checkout of our favorite store when they ask the age-old question, “Would you like to open a store credit card today?”

And I’m here to tell you that your answer should be YES! (Well, under certain conditions. Haha) I hope to give you some helpful pointers on how to decide on a worthwhile store credit card and how it can actually save you BIG bucks!

Tips on How to Decide on the Right Store Credit Card for You:

1.     First, you should start by thinking of where you shop the most and spend the most money. This will help you get the most bang for your buck! Yeah, you might have heard that you can save an extra percent off your purchase today, but how often will you shop at the store? Even though it ends up saving you a little bit of cash in the moment, it’s not worth bringing your credit score down a few points with a new credit card application.

2.     Do your research! The talking points that the sales clerks give you at the check out are only the highlights of the credit card perks. You want to be well informed about the pros and cons before taking the plunge. Is there a yearly fee? What is interest rate? Does the card operate on a points system or a cash rewards system? There’s a lot to think about before deciding on the right store credit card for you.

3.     Pick the one that provides the right savings for you! Some store credit cards offer instant savings, like the Target credit card, while others offer store gift cards as a reward. Think about what will give you the biggest reward.

So for my store credit card of choice…. After much avoidance, I finally caved and got a Banana Republic credit card. Not only did I frequently get hassled at the register, but I also had heard amazing things from friends that were big fans of the card. I decided on this card because Banana is one of the stores I shop at the most! I also love how their card also applies to Gap and Old Navy. They have a great rewards system that entails store gift cards, which I can always find a need to use! 😉 Their rewards are earned by points, and they frequently have great points promotions. They just had a month where you earned 3x the points on purchases outside of their stores! You also always get rewarded with an instant extra discount when making purchases within the store, which is a great perk!

So it may sound counterintuitive, but investing in a store credit card of your choice can actually save you money! If you exercise self control and are religious about paying it off every month, it can be a great way to add a little extra cash to your wallet.

Now a little bit about my outfit! I wanted to feature an outfit that is primarily composed of items from Banana Republic. This week’s look is a business casual office look! Dressing for work can get so mundane. Nothing like creating a new outfit or making a new purchase to spice things up! I was so excited when I snagged this fun silk wrap dress at the extra 60% off sale at Banana Republic this holiday season for $14! I decided to add some simple pops of pizazz with a gold shimmer kitten heel, a simple gold knot bangle, and jewel stud earrings. I love sticking with simple color palettes but then adding pops of color through accessories!

Outfit Details:

Black Satin Pleated Dress – $14 Banana Republic (originally $148, bought on sale with an extra 60% off!) 

Gold Sam Edelman Kitten Heels- $17 Marshall’s (originally $120)

Jewel Cluster Earrings- $9 Banana Republic (originally $38, bought on sale with an extra 60% off!)

Gold Knot Bracelet- $1.99 Banana Republic (originally $48, bought on sale with an extra 60% off!)

So hopefully I’ve encouraged you to take a second thought next time you’re at the register and get asked the age-old question about opening a store credit card! If you choose wisely it will end up being rewarding and saving you cash in the long run!


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