Store Credit Cards - Are They A Good Deal?

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Store Credit Cards - Are They A Good Deal?

Stores will sometimes offer great coupons, sales or incentives if you make a purchase using their store credit card. Initially, these deals look too good to pass up, but there's a cautionary tale. As a rule, I don't encourage the use of credit cards, even if there is a deal attached, for a few reasons:

1) Credit cards equal debt. I don't like debt. I'm trying to give you ways to save money, not owe money.

2) When you pay with credit cards, you tend to over spend.

3) The finance fees or late charges will far exceed any initial savings you might get. But, "I pay off my credit card every month",  you say. If that's the case and you're diligent about doing so, then terrific. Sadly, though, most people aren't and it only takes one time for a mistake in timing or bill paying for you to lose all your initial savings.

From time to time, I might post a store deal that is associated with a credit card purchase, but always remember, "Buyer Beware".