If you are thinking about getting a store card, but just one card, then you may wonder how to pick between them, especially if you shop in a lot of different places. With a store card it is often not so easy to see the differences between them but there are things that you should look for.
Consider Where you Shop the Most
The first thing to do is to think about whether there is a particular shop that you use the most. This is because when you get a store card, you will only be able to use it in that particular shop and so you will probably want it to be the shop that you like shopping in the most. Then you will get lots of use form it. However, we often tend not to shop at just the one place, so you may have a couple of different places that you might be considering choosing between. If this is the case and even if it isn’t you should look at a few other factors as well when you are choosing between the cards and considering whether they are a good idea.
Check the Offers
You will find that some stores will offer extra benefits to card holders. This might be preview sale evenings, money off at certain times and things like this. It will vary between the different cards and it is a good idea to find out what they are. If the offers do not interest you then it could be worth considering getting a different store card or just using a credit card instead. If the offers are not good it just is not worth having a card. The offers may change of course and you could ask at the store as to what they have been in the past and what they might be likely to change to in the future, although nothing is guaranteed of course. IT might be wise to just wait to get the card when there is an offer that you like the look of.
Check the Interest
You may find that the interest on this sort of card is quite high. This means that if you do not pay off the full balance that you spend on the card each month, you will end up paying interest on it and possibly more than on a credit card. You will need to check this if course and compare it between the different cards. Of course, interest rates can change, but the only way you can really check is to compare them all at one time and then see whether the one you are considering seems competitive. It is a good idea to consider whether it will be worth using a card like this if you already have a credit card with lower interest as that could be a better option for you.
Consider Temptation
It is really important to think hard about whether getting a card like this will be a sensible idea for you. Think about the fact that if you have a card for your favourite stall, will you be tempted to shop there more often? It could be the case that you will start shopping there more and perhaps not bothering to check process in other shops which could mean that you end up paying more for items. If the card has discounts you may just assume it is cheaper to buy at that shop even though the items may be cheaper elsewhere and if you only repay the minimum balance on the card you will end up paying a lot of interest as well.
