Using Store Cards for Bad Credit

Knowing how to manage your store cards is one of the things you must discipline yourself to do even if it kills you. When you are one and you how to handle your store cards well enough, you will be finding yourself enjoying a bunch of discounts and free stuff from the stores you often go to. But if you are the opposite of this then you will be faced with complete havoc and mayhem.

The Use of Stores Cards

Store cards are like credit cards but they are only used to limited places or even in only store in your area. It still functions as a credit card since it uses credits to purchase items. To pay for these used credits, you will be given a monthly bill of your store card charges, with either high or low interest rates if you pay right away or later, beyond its said date. If you pay late, the rates are extremely high that you would want to hide your store card.

Whenever you shop for items, they will, as a routine, ask you if you have your store card to pay for the items, or if not they would be offering you one. The first time you get your store card, you will be given discounts that can be used after a week and usually these discounts are around 10% off on items for the next three months. You can also get vouchers, or cardholder discounts, or if you prefer to shop online, they will deliver your items free of charge.

For you to avail one, you have to be at least the age of 18. Even if you are above the said aged, you will be checked through their credit check system before they fully decide to give you the store card.

Do not get mistaken

Credit cards that are connected with other boutiques or shops are like store cards. They are not. Stores like Tesco, Sainsbury’s, John Lewis, Marks & Spencer and Asda have their store cards. These are usable to any shop you go to and not just theirs.

Do not mistaken store cards too as reward or even loyalty rewards. They are barely similar. These reward cards lets you gain points every time you buy from a particular shop and when you have gathered tons of points, you can exchange it for other items instead of cash or better yet use it to pay for important items when you are on a tight budget.

Advantages

  • Discounts and Free Stuff. You will enjoy vouchers and other free stuff whenever you use your card often. Take note that when you miss paying for your store card bills, chances are the discounts and the vouchers you will get will not suffice with the high interest rates they have given you.
  • Best Deal. Store cards are great if you keep on buying on a special store like you go there for grocery every week. Be sure that you still are monitoring the days when you need to pay your bills and not let them pass. For that to not happen, you can set up your Direct Debit so if ever you forget to pay, it can be charged right away without worrying of getting high interest rates.