Sunday, October 2, 2011

Store Incentives for taking Credit

It's October. The autumn air reminds us that Thanksgiving and Christmas are not far behind. Planning is really important in order to get everything done in time-at least if it is going to be done in an enjoyable way. The sales are simply terrific in the stores right now-I know, I know... I was out in the mall October 1st-the first day that the NO Spend Month of September was over. <ugh> BUT, I had a reason, my husband needed a new suit.

We shopped the department stores and he found a $530 suit for $148! Also, I found Christmas presents galore for people on my list with high regular prices marked down in a similar way. Then came the question at the register.....If you put this on our store credit you will save an additional $42......Normally it would be a direct and immediate "NO". But, $42? That's significant. I'm kind of regretting our decision, but I said yes to save the cash! So now we have a store credit card. They are also offering 10% cash back through February on all purchases-then they are sending out the accumulated rewards gift card of 10% back. Do you think that it is worth it? At the time it seemed like a no brainer. Now, I feel like I owe money on a card. I don't like it. But we saved So Much! Which is the best way to think?

Cash is so much better to keep track of. When it's gone, it's gone. However, when signing up for hotel and airline loyalty program visas a year ago, we are now able to fly for free round trip with points for the 3 of us. Plus we have hotel rooms for 6 nights free with points. We don't carry a balance, and the rewards have been fantastic. Still the feeling that we get from paying cash is so much better than plastic. How do we balance the rewards and benefits (points and savings) with a hard line pay only cash rule? If not for the rewards programs we would not be able to afford the vacations that we've gone on. Feeling a little bit torn. Your comments are welcomed :)

Happy Fall! Welcome to the lovely month of October~


  1. I think if you're able to pay off your CC in full by the end of the month, you have nothing to worry about. It's when the purchases start piling up & a minimum balance payment is only made. Then you need to rethink using a CC for rewards, etc... As a big fat interest charge isnt much of a reward. ;) lol!

  2. We have them all paid up in full, credit cards that is.....we saved ourselves money by opening the store credit, but I'm feeling a little bit uneasy having a balance whatsoever. It just feels better to say that everything is paid in full. My husband says just write the check and send it to them already-don't even wait for the bill to come. I think you can pay in the store as well. I feel better about that. :)Thanks Carla You are SOOOOO right, a fat interest charge is NO savings :)

  3. I agree with your husband. Send it in and be done with it. I understand why you're conflicted. $42 is real money, but I hate store credit cards.