Using Store Credit Cards to Save Money

Store credit cards, such as those provided by Walmart, JCPenny, and many other retail establishments, are most commonly known for their high interest rates and low credit limits. Normally, this would not be a good combination when you’re looking to save money, however, I intend to inform you how that is not always the case.Portrait of a young woman standing in a clothing store and holding a credit card Horizontal

Many common store credit cards offer discounts and coupons as a reward for being a store card holder.The Kohl’s charge card is a great example of this.

Kohl’s, a discount clothing department store, offers some pretty significant discounts on a fairly regular basis for their card holders. I quite frequently receive mailings from Kohl’s offering me savings ranging from 15-30% off my entire purchase when said purchase is made using my Kohl’s charge card. These savings can add up over time.

There are tons of other store cards out there from which to choose. Not all of them offer the same benefits though. Here are a few things to consider when choosing the store credit cards for which you would like to apply:

1) Be sure to read the fine print. Always read the terms and conditions and be aware of any fees that may be associated with the credit card.

2) Check out the benefits. Most of the time, there will be a description of the benefits which are provided with the card. If you are unable to find this information, you may want to refrain from applying for the card.

3) Organize your finances. This is, by far, the most important point to take note of. Because these store cards can have higher than typical interest rates, it is imperative that you pay off these cards in full each month (this should be the case with all of your credit cards). If you fail to do this and let the interest pile up, you won’t be saving any money, now will you? Organizing your finances means knowing your credit limits, keeping track of your account balance(s), knowing when your payments are due, and making your payments on time and in full.

Which store credit cards do you recommend based on the benefits they provide? Be sure to leave comments so everyone else can benefit!


Podcast – #6-Using Store Credit Cards to Save Money

(To download, right click and select “Save Link As…” (Firefox) or “Save Target As…” (Explorer))

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One Response to Using Store Credit Cards to Save Money

  1. Linda Payne says:

    I enjoyed the tutorial and like you said the formula was too cumbersome, so the template is fabulous. Although I will look at this tutorial again….you make it seem to easy.

    Thank you,

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