| Walmart, Target, and Kmart have all jumped on the | | | | earns you a rewards point as well. Once you reach |
| retail store credit card bandwagon. These discount | | | | 1000 points, you get another 10% discount shopping |
| stores are vigorously promoting their store credit | | | | day. |
| cards as well as Mastercards or Visas with their logos | | | | Along with these benefits comes a high 21% APR |
| on them. What a great way to save money you | | | | that can jump as high as 25% if you have 2 late |
| might think however, these store credit cards must | | | | payments in a 6 month period. The Target store |
| be used with caution to prevent runaway spending | | | | credit card and Target visa are worth getting if you |
| and buyer's remorse. | | | | pay in on time every month and don't carry a |
| Discount stores do a tremendous amount of | | | | balance. However, unless you do a huge amount of |
| business, as consumers find it more convenient to | | | | shopping on that 10% off day you will usually come |
| get all of their shopping done in one place. What | | | | out ahead going directly through the card issuers like |
| better way to increase customer loyalty and | | | | Chase, Citi an Bank of America reward cards |
| spending than offering them instant credit at the | | | | designed to reward good paying clients. |
| checkout? Target, Walmart and Kmart each have | | | | Kmart has a similar credit card issued by Capital One |
| some type of discount or rewards program for using | | | | that gives you an APR of 11.9% on purchases in |
| their cards, but you can incur stiff penalties for late | | | | store or online at Again, the low rate goes to 25% |
| payments and over the limit balances. Also, while the | | | | or higher if you are late paying 2 times in a 6 month |
| introductory rates may be low, they can quickly rise | | | | period and a $25 late will apply. Walmart offers a |
| if you don't pay on time. A lot of savvy shoppers are | | | | Mastercard from Chase that gives you 9.99% fixed |
| finding that using regular credit cards with the reward | | | | APR on balance transfers within a 9 month time span. |
| features on them can save them hundreds of dollars | | | | Apr for purchases on the credit card varies |
| each year simply by offering better interest rates | | | | depending on your credit worthiness, and ranges |
| and reward features. | | | | from 13.48%-21.48%. Late fees and an interest rate |
| Target introduced its Redcards to shoppers with the | | | | increase to 24.49% occurs when you make late |
| intent of building brand loyalty and profits. The store | | | | payments. |
| credit card can only be used at Target, while the | | | | If you are a disciplined shopper and make your |
| Target Visa can be used most anywhere. When | | | | payments in full and on time each month, these |
| customers use their Target credit cards, 1% is | | | | discount store credit cards are worth your while. Be |
| donated to the schools of their choice. A 10% | | | | honest about your ability to pay off the balances and |
| discount on purchases is given when you are | | | | research the terms and conditions thoroughly to |
| approved the same day, and you receive the same | | | | avoid nasty surprises when your bill arrives. Compare |
| 10% discount when you order from Every $1 you | | | | deals and don't apply for the credit card at the |
| spend at Target with your Target visa equals one | | | | register, instead, take home the information and |
| rewards point, and every $2 you spend elsewhere | | | | decide if the credit card is right for you. |