Retail Reward Credit Cards |
|
Privacy & Security Protected
Back To Main: Loan Applications Retail reward credit cards are meant to entice customers to shop more often at the stores offering them. You may end up spending more on things you don't really need or want just to build up rewards. So be cautious about using your Retail Reward credit cards.
Folks who carry a plain old account with stores who provide Retail Reward credit cards may get advance notice of sales and private preview days, but they can't earn a single rewards point -- not until they charge $1,000 in a single calendar year. So when you think about it, to earn a $25 reward at a retail store you'd have to spend at least $1,834 or $1,417 if you shop during a double rewards event. That's not much of a reward is it? And the interest rate on Retail Reward credit cards is nothing to brag about either: a hefty 21.6 percent. A rewards program, even a good one, is just another way to entice you into spending more money in a particular store. "Retailers want you to visit the store again and again," says a financial expert, you may end up spending more on things you don't really need or want just to build up rewards. So be cautious about using your Retail Reward credit cards. The trick is to take advantage of Retail Reward credit cards without going overboard with your spending. Buy things that you need during special sales and pay off your balance every month. If you earn points toward a future reward or discount, that's great. Applying for Retail Reward credit cards sometimes helps you score same-as-cash deals for larger purchases such as computers, appliances or furniture, allowing you to pay smaller monthly installments with no interest for a period-usually 6 or 12 months. Just be sure to pay off the full amount before the finance charge-free period comes to an end, advises an expert. "If your payment is not made in full by the same-as-cash period end, finance charges will retroactively apply from the date of purchase." Find out what the APR rate is and add in any fees or minimum purchases required by the Retail Reward credit cards. Then compare that with your potential store savings to make sure everything balances out. Are you going to have to spend more money than you normally would in order to earn the perks and discounts? Never sign on for Retail Reward credit cards without reviewing the fine print and finding out what you are signing up for. It might take away some of the fun of a shopping splurge, but in the long run you'll be happier because you are safeguarding your credit. |
||||
|
| ------------------------ |
|---|
|
|
| ------------------------ |
|---|
|
|
|
|
| ------------------------ |
|---|
|
| ------------------------ |
|---|
Custom Search
|
| ------------------------ |
|---|
|
|
| ------------------------ |
|---|
Consumer Alerts | About | Bookmark Us | Contact | Espanol | Privacy Statement | Copyright | Terms & Conditions | Financial Widgets | SiteMap
Copyright © 2006 Credit Loan, LLC. 235 APOLLO BEACH BLVD, STE 218 Apollo Beach, Florida 33572 All rights reserved.
Disclaimer: The content provided on CreditLoan.com is for informational purposes only; do not make any financial decisions based on its content. Financial decisions are personal, based on an individual's situation. Consult with a financial professional before making any financial decisions. CreditLoan.com is not liable for your financial actions.
