Credit cards?

[AchtungBaby80]

Originally posted by kddani
For many mall stores anymore there's no use in getting one of their store cards.

Seriously, guys, this is so true. Macy's is really good about sending coupons and stuff to their cardholders, but I just quit working there several days ago and if I hadn't had to get an account just to use my employee discount, I wouldn't have. The interest rates on those cards is sky-high, and there are a lot of problems with the credit department...not one day would go by when I wouldn't get a customer who had a complaint about their bill, customer service, whatever, and I always hated calling the credit center because the operators were morons. Plus, I got so sick of having my job depend on pushing those damn credit cards that now, if I ever do go in there to shop, I will most definitely be using my debit card because it costs them more to process it.

[Rudey]

Originally posted by kddani
For many mall stores anymore there's no use in getting one of their store cards. You may get an initial discount, but for many of the stores you don't really get anything after that. VS is an exception. Express you don't get ANYTHING anymore, so I did close that account. Department store cards though will generally be good about coupons and stuff-Macy's is excellent for that.

Plus mall stores have REALLY high interest rates

Maybe, but I do know this. Barneys and Bloomingdales have a profile on you and send you info on special events, sales, etc. and have programs for their card holders.

I'm going to cancel some of my old cards but only because I don't use them and they don't have a lengthy credit history.

-Rudey

[ZTAngel]

The Federated company in general is very good to their card holders. I always get coupons, special gift cards, catalogues, special event information, card holder discount days, etc. from Macy's and Bloomingdale's. Those are the only store credit cards I have.
When I worked at Bloomie's, the card holders that spent a lot of money at the store would have a day where the store would be open just for them, they'd have their own personal shoppers and they'd get a glass of champagne when they walked in the doors. Very nice.
The rest of the stores give you 10% off your initial purchase and then that's it. Everytime you use a credit card (Visa, Mastercard, Amex, Discover), the store has to pay the credit card company a certain percentage of your purchase which is why many stores won't let you purchase something under $5 on a credit card. That's why companies basically harrass you into applying for their credit cards (coughLimitedCorpcough); you purchase on their credit card and then they don't owe any percentage to the creditors! Why should I help them out unless they're giving me stuff for being a frequent customer? This is the main reason why my only store credit cards are with Federated.

[chideltjen]

The other cool thing about having a Macys card is that if you forget your coupons at home when they are having one of their massive sales, they give you the discount anyway because since you have a card, they know you have the coupon laying around somewhere. So that's a perk.

But there were a TON of employees that I worked with there who were in debt to Macy's themselves. Their paychecks would go to paying off their bills. It was terrible.

Though I did keep my Macy's card open all through college because I needed some sort of credit to get my cell phone. My brother tried to get one on his own, but didn't have any CCs at all and my mom had to co-sign with him. And he was over 18.

[Rudey]

I'd just like to say that I don't think that's real champagne. I think it's the same awful stuff they give you in the "champagne room" of strip clubs that aren't allowed to serve alcohol.

-Rudey

Originally posted by ZTAngel
The Federated company in general is very good to their card holders. I always get coupons, special gift cards, catalogues, special event information, card holder discount days, etc. from Macy's and Bloomingdale's. Those are the only store credit cards I have.
When I worked at Bloomie's, the card holders that spent a lot of money at the store would have a day where the store would be open just for them, they'd have their own personal shoppers and they'd get a glass of champagne when they walked in the doors. Very nice.
The rest of the stores give you 10% off your initial purchase and then that's it. Everytime you use a credit card (Visa, Mastercard, Amex, Discover), the store has to pay the credit card company a certain percentage of your purchase which is why many stores won't let you purchase something under $5 on a credit card. That's why companies basically harrass you into applying for their credit cards (coughLimitedCorpcough); you purchase on their credit card and then they don't owe any percentage to the creditors! Why should I help them out unless they're giving me stuff for being a frequent customer? This is the main reason why my only store credit cards are with Federated.

[ZTAngel]

Originally posted by Rudey
I'd just like to say that I don't think that's real champagne. I think it's the same awful stuff they give you in the "champagne room" of strip clubs that aren't allowed to serve alcohol.

-Rudey

Well, I doubt it was Dom Perignon but it's the thought that counts! Plus, it's free alcohol and since I was an employee, I got to have the leftovers. I definitely wasn't complaining.

[SapphireSphinx9]

Originally posted by chideltjen
Though I did keep my Macy's card open all through college because I needed some sort of credit to get my cell phone. My brother tried to get one on his own, but didn't have any CCs at all and my mom had to co-sign with him. And he was over 18.

That all depends on the cell phone provider... And that's a whole different thread.

[APhi Sailorgirl]

Capital One- SUX, no one I know has liked them. One time I had a credit and they charged me fees! Then when I called to tell them to take the fees off, they asked if i wanted my credit limited upped. HELLOOOOO, this was a college student card at the time, so I had like no income.

AMEX-LOVE THEM! I have the blue cash back. Best thing ever, course I pretty much pay it off each month, can't afford to rack up huge bills.

My Dad just switched from the USAir BofA to the Citibank Thank You. Course, this is the card, I get to use for "um necessities" My dad only uses the cards for the points/miles. So he charges eveything (even my tuition and stuff) then pays it off each month, but gets all the points. Yeah, my dad is the one charging blockbuster even.

I'm probably going to get one that has points too, I mean, at this point, i might as well get something back from the company.

[chideltjen]

For Capitol One haters: what fees are you referring to? I have one and I'm not being charged... yet.

I mean there were all the things they TRIED to get me to sign up for... theft protection, insurance etc that all had a fee. I said no to them all.

But the promo I got was no annual fee. I just curious if there was another promo or something.

[Tom Earp]

There is no problem with Credit Cards as long as You Pay them off Monthly, full bill.

Debit Cards, well to easy to just go to ATM and forget about deducting from You Check book.

Cash isnt bad, it is the coin of the raelm dont Ya Know!

I worked for RH Macy and JC Penney so do have a bit on knowledge.

Coupons are rampant everywhere.

So, the basic premis, cant afford it, dont buy it!

Oh, some CC will charge a fee if your purchases are not enough, CITI BANK! for one!

[APhi Sailorgirl]

Originally posted by chideltjen
For Capitol One haters: what fees are you referring to? I have one and I'm not being charged... yet.

They charged me finance charges. Just like if I had a balance.

Oh, some CC will charge a fee if your purchases are not enough, CITI BANK! for one!

Tom, is this with all citibank cards?? And what's the min usage?

[epchick]

I got a Discover Card over the summer. Granted, my parents pay it off (that's what is great about being a sophomore in college without a job..lol). I use it mainly for books or for emergencies, but its good. I haven' had any problems with Discover yet...the only "problem" i've encountered is that some places won't accept Discover cards (dont know why)...but i'm happy with them.

[aggieAXO]

I like my capital one card-I do have th theft protection and this is the only card I will use to purchase things over the net.

I love my lowes and home depot card -0% interest and no payments for 1 year

[RhoSigma2003]

If you have no credit, the best thing to do is this:

Go to the bank you bank with or your parents bank and get a simple loan. Your parents will probably have to co-sign. Then open a student checking account at the same bank or where ever offers a free student checking. Deposit the loan money into there. Then call the bank from which you have your loan through and have them automatically debit THAT account for your monthly payment each month for AT LEAST 7 months. Most of the time, the automatic draft is a free service. This way, your building good credit and not having to worry about making your payments on time.

I should have taken my own advice, but about 9 Credit Cards later, i have finally learned my lesson. Thank god, ive had parents help me when ive been stuck. But I have them all paid off except for 3, which add up to about 7,000.

[ambición6]

I will once again reiterate that I hate credit cards. My mom though has been kind enough to lend me $15K, interest free to pay off my CC which currently charges me about 20% interest....so now instead of paying the CC company, I will just give the money to her which works out fine because at least no more interest. I will finish paying her off in 2 years....sigh....damn the CCs.