My dear friend Melanie weighed in on the last post I wrote about how the economy is reviving a “fix-it” nation. And Mel asked a good question – the gist was that she found a pair of shoes at Sears on clearance for $20. The checkout person pitched Mel additional savings by opening up a Sears card and Mel was able to pay cash for the shoes.
“… As we left I explained to my husband that I always apply for the store’s card to get a discount. I currently have a Fashion Bug Card, JCPenney Card, Old Navy/GAP/Banana Republic Card, and now a Sears card. All with zero balances on them. I think its worth the hassle to get the discount. I also believe it helps my credit to have these cards, and I’m responsible enough not to use them.
What are your thoughts on this subject? Am I really helping my credit (like I think) or am I hurting it?”
I’m not a master with credit cards (obviously, I’m still $4,800 in debt). But I know that when Future Husband and I bought our washer and dryer for our new house, we opened up a Lowe’s credit card which saved us 15% on our purchase – FH then paid it off as soon as we received the bill and hasn’t touched the card since.
What do you think dear readers? Is this a smart method of using credit cards or are we all just waiting to get burned?
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