How to best use a Store Credit Card

Most stores that offer credit cards do so with an extremely high interest rate. When applying for a credit card take a look at the terms before you make the decision. If you cannot afford to pay the card off each month, it is not wise to use a store credit card. The interest rate for most store credit cards is well above 20%. Not being able to pay the monthly bill in full will add up extremely quickly and could cause you to go into debt.

Get an immediate savings

Most store cards will offer you a significant discount when making your purchase just for opening up a card. If you are planning on making a large purchase you can save a good amount of money. Check with the store to see how long the discount lasts. Many times the store will allow you to make purchases for a day or two using the discount, meaning bigger savings. Only do this if you can pay the bill immediately. The high interest rates will not make the savings worth your time if you cannot pay it off.

Credit score

A store credit card is generally easier to get than a bank credit card. This one reason could help you improve your credit score. Make small purchases that you can afford to pay in total at the end of each month. For those with bad credit this can be the answer to help them get back on track. Slowly you will see your credit score improve.


Store credit cards offer great savings to people who use the cards. If you are a card holding member you may get access to sales earlier, great coupons and discounts for using the card. Take a look at the promotional offers the store is giving. Many times you will be offered a coupon savings and an additional discount if you use your card to make the purchase. Again it is extremely important to pay the credit card when you get the bill in full. Do not get tricked into making a purchase you can’t afford.

Read the rules

Take your time to read through all the rules of the credit card before you begin to use it. Know the penalties and interest rate of the card before you purchase any items. Depending on your spending behavior will directly affect the benefit of the card.