credit_store.jpgAny person who visits a department store is going to immediately be presented in one way or another with the opportunity to open up a credit card for that store. Walking into any department store you will probably see a sign in the door that showcases how you can open up a credit card and receive a discount of 20% off your purchase that day. You may also hear advertisements over the PA during your shopping session featuring the same 20% off your purchase. Last but not least, the cashier ringing up your purchases will more than likely notify you in a cheerful way that you can save an additional percentage off your purchases that day by just simply filling out an application for a credit card to the department store.

When any person goes shopping they are more than likely trying to get more bang for their buck, and these tantalizing offers for store credit cards may seem very appealing and even justifiable. The truth is that department store credit cards are just like any other credit card and if you are not careful you could end up spending more money than you initially saved. You’re going to have to pay interest on your purchases with these store cards. When you use a department store credit card and purchase an item that is on sale and then receive an additional percentage rate discount for using the department store credit card, the amount you receive in discount might justify what you will pay in interest, but you can’t count on that.

Another problem that can be found with having department store credit cards is the pure fact of just having one. When a person knows that they have available credit and have an itch to go shopping they will become more apt to use the credit card than they would to spend actual cash. As stated before, department store credit cards are just like any other credit card, which means that each time the card is swiped, debt is accrued.

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