Shopping online cerchandise cards and regular credit cards are similar to one another in that you can use them to buy merchandise when you don't want to pay for it right away. However, there is a limited function to shopping online cerchandise cards. They're only valid at particular retail locations or catalogs. The only benefit these cards offer is access to a credit card for people who have bad credit.
It's also convenient. This is due to that fact that most credit cards don't charge interest unless there is an outstanding balance at the due date. Usually, shopping online cerchandise cards don't have a fee that you pay yearly. So, you may want to use shopping online cerchandise cards as a way of restoring your credit. Take a look at the terms and conditions for all the details.
The amount of credit you will be extended and your monthly payment will be determined by the store or catalog company issuing the card. Shopping online cerchandise cards and store credit cards can certainly help you to build your credit, but don't let yourself get carried away. Loan agencies might think that too many credit cards is a bad sign. However, most shopping online merchandise cards usually have higher credit limits than traditional credit cards, so it helps your credit by increasing your debt to credit ratio and increases your purchasing power at the same time.
Credit card issuers have tried to sweeten the deal by offering rewards for purchases made with the card in their stores. But, you pay a price for those rewards. These rewards are put into place to keep customers loyal to the company. Don't be swayed by discounts, special offers, or rewards that are there strictly for the purposes of luring you into a bad deal. There's nothing positive about paying interest rates every month.
Plus, shopping online cerchandise cards are a very expensive way to borrow cash. There are also financial transaction limitations. Shopping online cerchandise cards are only usable with specific catalog or internet sites. Normal credit cards give you a lot more but shopping online cerchandise cards have less approval requirements, and no employment or credit checks.
Why even get shopping online cerchandise cards then? In the 1960's and 70's it was logical that if you did not have cash on hand, then you would buy on account or take out a shopping online cerchandise card. But what followed was a wave of credit options that could be used in a wide range of stores and other shopping venues, which changed the way Americans shopped. There is no longer a need for shopping online cerchandise cards. The US has over 160 million plastic credit cards in use! Last year they spent over 243.9 billion dollars.
Yet there are still people that sign up for store cards. Since paying on credit is the most popular way to buy merchandise these days, why not get another card? You can see someone doing this when they are vulnerable; they need the items, but cannot pay for them right now. And estimated 50% of shoppers do this despite the fact that they had no intention of doing it when they left the house.
TO SEE A LIST OF MERCHANDISE CARDS OFFERS