Jan11 2 6_weighing the pros and cons of credit-finalPresentation Transcript
Weigh the Pros and Cons of Credit Privacy Matters Identity Helps you Decide whether Store Cards are Worth it!
Store Cards Store cards are basically credit cards that are issued by stores But these can be used in specific stores or chain of stores only A store card generally offers some perks to those who opt for them in terms of loyalty points and special offers too But these store cards can spell disaster for the shopaholic who does not know how to stop
Store Cards Store credit cards are one of the main strategies that stores adopt to lure shopaholics and bargain hunters They create offers and promises relentlessly The store cards are definitely a marketing gimmick that help the store more than the customers But store credit cards are not always bad if you use them well Some tips from Privacy Matters Identity can help you turn the tables and use store cards to favor you
Real Money It is important to remember at all times that even when you are swiping a card, you are spending real money. Remembering this helps in preventing you from treating the store card frivolously After all it is not monopoly money Being careful while spending on store card is essential lest you find a ‘go to jail’ command in the future
Interest It is important to avoid any kind of interest on store cards since these can be extremely high Make sure that you pay off the entire amount when you get the bill If you put off clearing the amount and continue to carry forward the credit the interest will also accumulate You may end up spending more than the 10% discount that you got due to the store card
Hidden Fees There are some stores that sneak in an annual membership fee that can sometimes be very high And this can mean that you pay a certain fee to the store irrespective of whether you shop at the chain or not Store cards also charge a hefty late fee that you may just not notice on the statement that you receive So make sure that you find the bills, look up the statements and make the payment in time Privacy Matters Identity suggests that you ask about all the fees or fines that have been charged to you
Privacy Matters Identity explains that Store Credit Cards can be used to your Advantage But you do need to know how to manage and control your spending and pay on time too