Vanili, I may be a little too late into the conversation, but I have a total of 3 store cards and this is why I still keep them (and why I got them). Hechts - I first got it because I was a major concert buff and Ticketmaster would only accept cash or a Hechts charge (at a Hecht's store). When the bill came I would pay it off in full, but at 18-19 years old I didn't have the cash on hand when the tickets went first on sale. Today, Ticketmaster still accepts the Hecht's Card, but they also allow Amex, Visa, and MCard. I still keep the card though because they have special clearence sales that allow cardholders an extra 10-15% off. If you paid cash, or with another CC you don't receive this benefit. Again, I pay the card off in full when the bill comes. I refuse to pay interest on any CC. They also offer deferred billing for 3 months. Say you purchase $1000 worth of Xmas gifts in December. They will not bill you until March. Of course, you must have the money to pay it off or you are stuck with a 21.99% interest rate. CompUSA - they offer 0% financing for 12 months for amounts over $299 (works great when I get a new computer every 3-4 years). I have the money in the bank, but it allows me to make interest off of it. At the 11th month I pay the bill in full. And have a little extra money in the bank because of it. Belk - again they offer an additional 10-15% for cardholders (same as Hechts). The reason I received this card was my account is a 30-60-90. Which means no interest...ever. Say I purchased $300 in merchandise. Belk bills me $100 the first month, $100 the second month, and $100 the third month. Also, for any amount over $150 I spend on the card I get cash back toward my next store purchase. I also have a Discover, Amex, Mastercard, and Visa. It is always better to be prepared. The cardinal rule for a store card to work is never carry a balance. You end up losing any savings you had. The same goes for cashback reward cards. Dani
Kohl's APR is based upon your state of residency. Arkansas is the lowest with 9.9%. Some states such as Delaware have an apr of 12.9%. It goes up to like 18.9% and 21.9%. Also if you are in a state with a high APR they will reduce it to 12.9 if you buy $600 in one year. But as everyone is is saying the way to go with retail cards is pay it off every month to benefit from the extra savings they offer.
