ajmac1990 And they’ll often include extra products. For example: I just order a smart thermostat. It was the same price at Amazon and Best Buy, But Best Buy included an echo dot 3rd gen free. (Ironic considering the echo is an Amazon product)
@@matthew8153 well best buy doesnt price match prime discounts which can be around 15% sometimes. Also any items amazon categorized as limited quantity isnt price match eligible.
I got a Target card last year on black Friday. There was a kid asking if I'd like to apply for one and he would take me to a open register. So I pretty much applied for it just to skip those big black Friday lines and got a additional 5% off my entire purchase.
Target cards are really solid all around if you go to target. They're nice for someone that already has established credit and great for people starting to build credit. I got my target card 17 years ago when I had 0 credit as one of my first cards and it's now my oldest account lol
But I heard last year there were TWO quadrants to the Chase Freedom card where you could get 5% for Costco both store and gas. Gotta sign up for those quadrants. I work at Costco. I have both and use them situationally.
The Sam's Club master card also give 5% cash back for gas (I think it's up to the first 6000 or so dollars spent for gas) and you dont' even have to be a member. Kinda dumb you have to go into store to claim it though.
I have the Target Debit Card. The only gripe I have is that it will sometime take a few days to deduct from my bank account. Other than that, I like it. Just wish I would have gotten it as a credit card. I’ve not had it for over 5 years and I am currently rebuilding right now.
the only store card I got is the best buy store card due to the great financing program. I recently bought a brand new Samsung fridge, A Samsung washer and dryer. I got 36 months no interest. I don't have that kind of money to pay it off right away, so financing is the only purpose I got the store card.
@@fennecbesixdouze1794 It's only bad for your credit score if it makes utilization go up a lot. With the info he provided it's not possible to know if his utilization is high or low.
I have an Express and BestBuy store card. I never see Express gift cards and I get a lot of clothes from there, so the store card is useful there. BestBuy, I've had the card forever and use it regularly and have made it coexist with my Freedom. I think the main benefit is for financing if you're going to make a huge electronics purchase over $1k. Then you would buy gift cards with Freedom to cover most of the cost and use the BestBuy card for the remainder so you keep the card active and are eligible for the financing option while still getting your 5x on the bulk of the purchase.
Stores like Walmart and Target are probably worth it. And Costco’s not a bad card to start building your profile with; especially if you do a lot of shopping there. 4x on gas, 2x in store and if I’m not mistaken restaurants and 1x everywhere else. Not bad at all, especially with no annual fee; You never have to close it.
Normally store credit cards get cancelled if the business closes. Great examples are sharper image and sears. i know 1st hand about those ones. i haven't heard of another company buying them out
The Target store card is probably the best one out there, especially since they are friendly to people with new credit and rebuilding. If you PIF, you can get 5% off all the time, which isn’t bad at all. This year, they actually let you buy all the Black Friday sales early if you had a Target card too, so that was a nice benefit. I believe the Amazon Prine store card offers a similar 5% benefit, but those are really the only ones that are totally worthwhile IMO.
I have a gas card (BP) and its been open for a very long time. One day all the stations were gone rendering it worthless. I moved to another area and am able to use the card. This makes my monthly gas easy to track my spending and a little reserve if I'm ever short. The downside is the interest is high, but it does have some rewards which gives me a free tank of gas about once a year. No annual fee
I work at Costco in refunds and the amount of stuff I see get returned is crazy!! On the side note I had the option to book a $3k vacation on my csp or my Costco Visa card and I ended up going with the citi card since I would get 5% back essentially. If you have any questions on returns let me know
The only store card I want is the Best Buy because I buy a lot of video games, and the extra reward points on top of the Gamers Club points really do help me rack up the savings
Excellent points! I think some people just like the convenience of not having to spend time managing the quarterly bonus with gift cards for future spending. It's effortless to get 5% at Amazon with their card. For groceries, or gas, the convenience of having a card that works year round has a lot value - no future planning necessary. 😊
You scoff at the chicken reward. Well, let me tell you that I got a approved for the Costco card the other day and they had no bonus offer. I had to buy the chicken for five dollars. Lol
I will not waste another inquiry on a store credit card. Two of them closed my account, due to inactivity. Next card I apply for, will be a The Amex blue everyday card.
Yes & no. Yes, Because you’ll decrease the amount of available credit, which may make you credit utilization go up. For example you got two credits card $1,000 available credit on both. One card has a $500 balance and the other, which is the one your closing has a zero balance. Before closing your credit utilization would be 25% because you’re using $500 out of $2000 available. Once you close that card. Your credit utilization would got up to 50%. which will lower your credit score. No because…. Your question is 2 years ago, so I’m sure you’ve discovered the answer.
I once let Target and some other cheap chain store talk me into their credit card and when I went in to buy a car, my interest rate went up by about 50% so those stupid cards were EXPENSIVE. Luckily, I was able to pay off my car within 6 months due to a gift from my mom. When you open stupid card accounts and two in the same time period, note that your credit score will CRASH drastically!
Several years ago, I was approved the Walmart Discover Card, a few months later it was branded a MasterCard. I found that there was little benefit rewards and high interest. For getting approved they gave a one time $25 off coupon/credit. The only other “perk” is that it came with optional insurance, up to 10K, to pay off the card in the event of layoff or disability. I’ll never apply for a store card again.
Know this is kind of an old video but you're practically right. In the sense of store credit cards. I'd only get them if it has a great bonus specifically to the store and being able to use it elsewhere. For example, I have the Amazon Prime signature rewards card and I tend to make most of my purchases there with the exception of other groceries monthly but they do offer bonuses with whole foods and that pretty much now makes me consider whole foods not only because of the points but they have had a lot of recognition with their quality of groceries. Now on to others I have a Newegg store credit card. Only reason I have it is because I frequently shop between Newegg and Amazon for tech. I just find Best Buy to be a rip off and their services to be downright trash. Newegg has their premier service which can go great with their Store credit card but I wish they'd also consider having a similar approach to Amazon. Store credit cards just depend on what you shop in most often but if you are wanting to get a store credit card please consider the options and benefits and if it's a rewards points based store card then go for it. I have a PayPal credit line and a Samsung one due to me getting Samsung tech etc and they tend to give nice points with shop Samsung but at the core of it. It's still a generic store card if it didn't have the perks with the Samsung store I would of just let it collect dust till I upgrade a phone or monitor lol.
I got a $60 cash card from Costco by signing up for a new membership, upgrading to executive, and getting approved for the Costco card. Wasn't much, but better than nothing.
I have a Bestbuy card because I purchase nearly all my gadgets and electronics from the local store. Bestbuy has an excellent price match program, and I like that I easily return items if need be. The only downside is that the card doesn't provide warranty coverage. The points also come in handy. They typically cover taxes.
Synchrony Sam's card gets me 5% back on gas, and 3% on dining, for a no AF card that's pretty good, the 5% back on Sam's purchases(with the Plus membership) made that an easy choice. Getting 5% back on Amazon and beginning a relationship with Chase made the Amazon card desirable to me. If I need spend to get a sign up bonus I can always use that card at either one if I am fighting a deadline.
I know this video is three years old but the whole point behind companies giving out store credit cards for cash back is because by doing so they are making customers mentally committed to shopping at their store. If someone has a store card lets say one at walmart 5% cash back they are more likely to do most of their shopping at walmart including groceries and by getting you in the store youre more likely to see other things you like and spend more money. Its all about getting you in the store and getting you going there consistently.
Yep. Generally why I'm not a fan of these cards. I want to go to the place with the best deal vs. focus on the 5% and potentially pay a premium. Not mutually exclusive of course (Walmart is usually a good deal as well).
Retail cards like Barneys and Bloomingdales offer free preview to sales and a % of your annual spend back onto a gift card, the % is based on what you spend. You also might receive occasional gift cards in the mail for $100-$200 just for being a cardholder and customer. Free shipping and messenger service in Manhattan for Barneys and free valet at the Beverly Hills location. I’d have to do the math to figure out if I come out ahead vs other cards but the Bloomingdales card is insane with the amount of points you earn you get massive discounts, that one pays for itself if you frequently shop there.
omg Costco card sign up bonus: free chicken. mcdonalds sign up bonus: free big mac super size meal the only 3 store cards I've considered: sears mastercard (for targeted 10% CB offer - seems a bit uncertain as to actually getting that particular offer) target (5% on all purchases is nice, but I honestly don't go to target that much...I might, though, but meh, other more critical cards in my sights) banana republic (the perks look enticing, but I've never even been to a banana republic lol.)
I only have 1 store credit card and that is the IKEA Projekt Card. I got it because I may be moving into my own apartment within the next year and IKEA offers (anytime) flexible no interest plans on certain dollar amounts purchased. I believe its 6 months 0% interest on $500+, 12 months 0% interest on $1500+, and 24 months 0% interest on $3000+. Other than that all my credit cards are either Mastercard or Visa that can use anywhere. I value my freedom more than chasing after store sign up bonuses.
I think the Capital One Walmart card is a great investment. Walmart is not going anywhere. I feel the same way about the Marriott or Hilton hotels. I think a Hilton Aspire or Bonvoy Brilliant from Amex is well worth the annual fee.
i got the home depot card because i can get 6 months or more zero interest depending on how much i spend. great for larger projects cause i can start now and budget instead of not doing a home improvement while i wait and save up. also we have an apple card thru barclays because it let us buy a new mac with 2 years 0% interest.
I understand the sentiment to be prudent and responsible, and if it were for personal enjoyment I would probably be echoing your statement. But in this case, that 0% capital enabled me to invest in business improvements that cash flow and generally pay off before a dime of interest is due : ) hard to beat that
...but not all of the issuing banks are legitimately connected to another market. My Kmart/Sears card is issued by Citi, who will (and has tried to) flip everyone onto a MasterCard emblazoned version of the same card. In-house private-label store cards might not have a legitimate Visa/MasterCard basis. My store card through Gordmans/Stage is Comenity Bank, they might try to push me to another local store if their Gordmans accounts have nowhere to go to, but they might also closed the accounts. Or as an example, bother Valero gas stations and Firestone Car Care have psuedo-banks established solely for issuing lines of credit to their customers. I have a Firestone credit card to get my cars serviced at my neighborhood Firestone (but can use nationally and online); it is issued by CFNA Bank, who is owned by Firestone solely to issue cards to Firestone customers. In their case, if Firestone goes under, it doesn't mean the bank wouldn't get sold off first. [Such as my Kmart/Sears card which is now issued by Citi, but used to be backed by Sears... Not to mention Sears created Discover Card in the 1980s as their in-house and external card before selling it off in the early 1990s(-ish).]
What about the Amazon Prime card? Sebastian, I have a ton of store cards to boutiques. I get access to early sales, cash bonuses, free shipping to my home and early access to look-books. (Important to me) You are making me reevaluate these cards, and their actual value. I never thought to buy gift cards... I have the Discover IT... And I'm not maximizing my first year...until now... Glad that I found your channel.
The Triangle Rewards MCs are pretty good here in Canada. It's a store specific card and the return is only doled out in Canadian Tire money, but it still gives back a decent 4% back at CT, Mark's, a SportChek, Atmosphere ect. plus a per litre return on gas at GAS+. There's much more once you upgrade but the standard alone is worth for rounding out your wallet.
Hey Sebby, first off I want to say your channel has helped me immensely to understand my credit score and ways to improve it. For that I thank you. And my question is, I am looking into getting a car shop store cars just because they offer you to do payments with no interest as long as you pay it off in less than 6 months. So what is your opinion in car shop cards, if you've used them or if they are helpful. I'm looking into getting one from Firestone or Midas just because they offer the payment option. Plus car maintenance is expensive so payments really help out. Hopefully you can answer, thanks again!
I know someone who has certain store cars (Sears, JC Penny (don't remember if they're both the same), and Home Depot) because of the financing options (and I assume extended warranties) for purchases such as washer/dryer machines. Something about no APR for a certain period of time. She got the HOme Depot one to help a friend with bad credit to buy some things for her house rennovations (of course this is a trusted friend with a stable job and income to pay her back that has not gotten her score back up yet after a mistake when she was young).
Amazon has now begun to offer their own card through Syncbank. They offer 5% rebate which is automatically applied to your bill. I have given up using my Chase Amazon Business Rewards cards which gives only 3 % Amazon rebate.
Hey Sebastian, all in all I do agree with you. I have a few credit cards in my wallet. One retailer credit card I have is Amazon and the other retailer (store card) is target. For the Target card, getting rid of it because it has limited benefits for me would be the smart thing. But the amazon card has more benefit so I would keep that one. But having cards from financial institutions like chase, citibank, etc. usually has better rewards for cash back cards. That's a general rule of thumb.
Thanks Sebby, I was thinking of getting a couple of store cards, but wanted to come here first...with the Chase Unlimited you can get discounts from stores regardless...
I learned this the very hard way. I had PC Richard.. Best Buy...Banana Republic...Macy's. On top of 2 chase credit cards & an Amex. Please if your reading this(I'm 100% debt free now) credit card debt starts so easy. Please don't spend more than you bring in a month
Costco card is probably a great investment if you’re someone who is a die hard Costco member (or at least someone who is planning to shop at Costco for 5-10 years). It’s actually one of the best Citi cards you can get. However, I find it a turn off that you must maintain a Costco membership pretty much forever unless you’re willing to get your card and credit history cancelled. Also cash bank redemption is too inconvenient.
Agree, I like the BJs card better. $20 increment cash back though it can only be used at BJs. 5% > 2% at Costco and BJs' gas discount is better too (10cents off per gallon which is 5%@$2/gallon where gas is at now).
I only have a Apple Barclays because I thought it was a good deal. It's nice to pay a computer at your own pace with no interest... but that's about it..
I have store cards that give me 5% cash back. I chose the cards because I shop at those stores weekly and can't foresee a time when I won't be shopping there.
I'm planning to get the Sears MasterCard, but only because of the targeted 10% offers. I think there's a 5% gas offer too, so that's cool. Although the rep I spoke to on the phone said that these offers go out to everyone who owns the card, everything I've seen online says it's targeted and thus not everyone gets it? Regardless, the only other card that I might apply for after this one is the Amex Hilton Hhonors, although with the CSP (will upgrade to CSR) and the IHG card, the Hhonors card may be a bit moot - although it is free and will allow me to accumulate Hhonors points at a good rate, a much better option than transferring UR points to Hhonors points at a 1:1 rate. The Target Card is pointless for those in the rewards game: Target offers a *debit* version of the Red Card, and it has all of the benefits of the CC: 5% off all Target purchases, free shipping on Target.com, and 30 day extended returns! It links to your checking account, giving you the full benefit of the Target CC: the only "advantage" the CC has is that it's a CC...yeah... I'm also getting the Chase Disney Debit card, which I haven't gone to Disney in years but hey! Whatever, it doesn't cost anything to do and watch sometime I'll be at Disneyworld and like OH YEAH I GOT THIS!!! Speaking of debit cards, I've also found a bank that has a local branch that offers a *checking account that gives you 5% cash back on the first $200 in purchases every month!* For some perspective, that's not far off from the $250 limit of each gas and groceries that the Sallie Mae Rewards card had, but each of those categories were of course limited. This is $200 on everything: *If you hooked up a Target debit card to this account, you potentially could get 10% off of a $200 purchase at Target, simply by using that card!*
Ask Sebby right on, sounds good. I think I read that Citi does 3 hard pulls??? That's one reason why I'm probably gonna do this one last, or second to last
Excellent points. I lucked out because my first credit card was an Amazon card (which is the only "store" card I think most people consider). Since that was 4 years ago I'm well past the 5/24 relevancy of it and I'm left with a pretty neat 5x back card. The sign up bonus was sub par ($50) and it used to be 3x only! I would really be interested in you doing a keeper card video. Keep up the awesome vids!
I get store credit cards because i do appreciate deals at places. I am also smart with them and i never exceed 30 percent of my credit limits. I always ask if i can pay the card off after a transaction as well
I get store credit cards simply to have the additional unused credit and to show aged accounts. I've had Kmart/Sears & Gordmans credit cards since my early twenties. I am addicted to Kmart, so that card has more than paid for itself (essentially like having the Discover-It 5% with all purchases). Unfortunately the last Kmart has closed in my city, so going forward the card will be reserved for emergency auto-repair for my boyfriend's car (which is a rusty-but-trusty Dodge minivan, as there's still a Sears Auto-Center in town). If/When Kmart/Sears officially kick the bucket, I'm looking forward to see what happens to the card. A year ago Citi tried to push everyone to the Kmart/Sears/Citi MasterCard, but I opted-out to stick with the plain-jane store-locked in-house card. My Gordmans card was issued by Comenity (the largest of private-label store cards); Gordmans went bankrupt, but we're bought-out by Stage...the credit card continued as is. I figure I make a purchase 2-3 times a year, and Gordmans continues as-is as an aging account in good standing. I'm also a bit of a gambler, so I don't need to use my real credit cards with random BS I don't really need to be buying.
Did I make the right choice by acquiring a Newegg store credit card to buy parts for a $2,300 PC build? I paid it off within a year so I paid zero interest.
I accidentally applied for a Old Navy store credit card because of the employee vague description 20% promotion I would receive and my lack of knowledge. I will never shop at this ever again place and I was wondering what options do I have to cancel it or not use it to not hurt my credit score?
Kinda misleading info here. As a cardholder with a store card, you tend to get better offers and sales too. So, sign up bonus and percentage back aren’t the only things to consider.
a few months ago i got a best buy credit card but am now regretting it... ive got a 2k limit on it and its the card that can only be used at their store, i have never made a purchase with it. what should i do? should i cancel it or just not use it? i feel like it would be better to use another credit card that earns cash back..
I have had a target card for a few years but really want to close it. I don’t typically like the idea of closing cards but really regret getting this one. I have two other well established cards with higher credit limits anyway. I know I can always avoid using it, but is it really doing much for me? does anyone recommend closing it, and if so, what’s the best way to do this? if not, why should I keep it?
it sucks, my very first credit card was with Best Buy, so I am kind of forced to keep it. The only reason I got it is because when I was 17 or 18 I wanted to buy a computer and I wanted to build my credit as well. On top of that Best Buy had it to where if you paid using a Best Buy credit card I was able to pay it off in 12 months with no interest.
#AskSebby Are there any limitations or con's of getting a lot of business credit cards? Like for Amex and others is it hard to get multiple biz cards? Are there any downsides to biz cards besides the hard pulls?
Also, I appreciate your effort, but this video really needs clarification between private-label store cards (which can only be used in-house at those stores) and cards branded for a store but functioning outside the store as a Visa/MasterCard. Citi bank issues/backs a credit card for Best Buy (and Kmart/Sears, among others) with & without an external relay. You can get an in-house private-label Best Buy card (issued by Citi) to only use in-store (or online) at a Best Buy, or you can get a Best Buy Visa/MasterCard (also issued by Citi) that can be used like any other merchant accepting Visa/MasterCard.
It wasn't a credit card, but my favorite bad offer was San diego county credit union (sdccu) giving a free fish taco from rubios as a checking account bonus.
I have a Forever 21 credit card, and I don't really shop there anymore. My balance is $0. But my credit line is $2000. If I cancel it, my available credit will dramatically decrease. What should i do?
Ask Sebby wow I just found out about your channel and didn’t know you offer cc advice. That’s so generous! I just got approved for my first ever Amex card, but wish I would have checked your opinion before making my decision. Next time, I’m sure! Thank you! Oh and I’ll just keep the F21 open. :)
Can it work out if you get a store credit card simply to buy a very large purchase by finances, save up a month, pay off the finance and immediately close the credit card?
It would work but it's detrimental to your credit score long-term: ruclips.net/video/-nrIxCtoZd0/видео.html If you shop at a particular store enough, you might as well keep the card (most have no annual fees).
Fun fact: Best Buy will price match with Amazon
ajmac1990
And they’ll often include extra products. For example: I just order a smart thermostat. It was the same price at Amazon and Best Buy, But Best Buy included an echo dot 3rd gen free. (Ironic considering the echo is an Amazon product)
@@matthew8153 well best buy doesnt price match prime discounts which can be around 15% sometimes. Also any items amazon categorized as limited quantity isnt price match eligible.
Matthew which thermostat. Amazon also owns ecobee
But it Has to be shipped and sold by Amazon
It is the only way I ever buy from Bestbuy outside of Black Friday sales!
I got a Target card last year on black Friday. There was a kid asking if I'd like to apply for one and he would take me to a open register. So I pretty much applied for it just to skip those big black Friday lines and got a additional 5% off my entire purchase.
JNJP27
pretty smart
😂 nice
Target cards are really solid all around if you go to target. They're nice for someone that already has established credit and great for people starting to build credit. I got my target card 17 years ago when I had 0 credit as one of my first cards and it's now my oldest account lol
I literally laugh out loud when he said you get a chicken 😂
LOL a chicken?!
Juan Carlos ...yep.......a chicken
Juan Carlos Return half a chicken!? Lol that actually happened?
I bursted out laughing 🤣
I laughed as well.
Mine offers a pack of Kirkland water bottles.
I kept laughing 😂 when Sebastian kept saying you get a free chicken 🍗. Too funny.
amazon and costco are must haves to me. costco gives 4% on gas, 3% on restaurants and travel and 2% at the store. this is ridiculous
But I heard last year there were TWO quadrants to the Chase Freedom card where you could get 5% for Costco both store and gas. Gotta sign up for those quadrants. I work at Costco. I have both and use them situationally.
Same and Best Buy for financing
And now Costco has no Foreign Transaction Fees!
The Sam's Club master card also give 5% cash back for gas (I think it's up to the first 6000 or so dollars spent for gas) and you dont' even have to be a member.
Kinda dumb you have to go into store to claim it though.
I agree. The Costco card is a great everyday card. Easily earning over $500 or more is pretty impressive
Target gives you 5% off on every purchase for the life go your card. That is a fantastic deal, and it's the only store card I use.
The price of most items at Target is just too high for regular people. I know they have higher quality, but here you pay much more then save just 5%.
Another good option (if you didn't already have it) is the Target debit card. Basically does the same thing without having it as a credit card.
are you high? target is supposed to be cheap!
liverpooler1997
It’s not
I have the Target Debit Card. The only gripe I have is that it will sometime take a few days to deduct from my bank account. Other than that, I like it. Just wish I would have gotten it as a credit card. I’ve not had it for over 5 years and I am currently rebuilding right now.
I have the Costco card. I spend about 200.$ inside the store a month 2% back. And about 300.$ at the gas pumps a month 4% back.
the only store card I got is the best buy store card due to the great financing program. I recently bought a brand new Samsung fridge, A Samsung washer and dryer. I got 36 months no interest. I don't have that kind of money to pay it off right away, so financing is the only purpose I got the store card.
Fu Lim That's cool! Did u have to put any money down?
@@fennecbesixdouze1794 It's only bad for your credit score if it makes utilization go up a lot. With the info he provided it's not possible to know if his utilization is high or low.
@@davide4607 that's pretty true about the utilization of the credit limit
@@fennecbesixdouze1794 He might have 100k in total credit so 5k is nothing.
Same here! It’s the only store card I’ll ever have. The rewards are decent too.
Dude, what do you do for a living. The fact that you think like this amazes me.
Lol this is his job
If there is no point then whats the point. Well said
Good point
Home Depot and Lows are my only store cards , Owning two homes I’m always find myself shopping there
I have an Express and BestBuy store card. I never see Express gift cards and I get a lot of clothes from there, so the store card is useful there. BestBuy, I've had the card forever and use it regularly and have made it coexist with my Freedom. I think the main benefit is for financing if you're going to make a huge electronics purchase over $1k. Then you would buy gift cards with Freedom to cover most of the cost and use the BestBuy card for the remainder so you keep the card active and are eligible for the financing option while still getting your 5x on the bulk of the purchase.
Smart play with the Best Buy card!
Stores like Walmart and Target are probably worth it. And Costco’s not a bad card to start building your profile with; especially if you do a lot of shopping there. 4x on gas, 2x in store and if I’m not mistaken restaurants and 1x everywhere else. Not bad at all, especially with no annual fee; You never have to close it.
I figured I could just use my Chase Freedom to buy my Costco chickens, as opposed to getting their store card.
Miss Longhair you lose 1% but sure
Normally store credit cards get cancelled if the business closes. Great examples are sharper image and sears. i know 1st hand about those ones. i haven't heard of another company buying them out
DID SOMEONE SAY CHICKEN???
👨🏾 👨🏾 👨🏾
The Target store card is probably the best one out there, especially since they are friendly to people with new credit and rebuilding. If you PIF, you can get 5% off all the time, which isn’t bad at all. This year, they actually let you buy all the Black Friday sales early if you had a Target card too, so that was a nice benefit. I believe the Amazon Prine store card offers a similar 5% benefit, but those are really the only ones that are totally worthwhile IMO.
what if I eat half a chicken while at banana republic? 😁
Then you wont be able to fit into your banana republic cloths
SolidLiquidFox lol
The chicken 😭😭😭😭😂
Don’t knock the chicken
I LOL'D
I got the nordstrom card, I like to do my shopping one place.
I have a gas card (BP) and its been open for a very long time. One day all the stations were gone rendering it worthless. I moved to another area and am able to use the card. This makes my monthly gas easy to track my spending and a little reserve if I'm ever short. The downside is the interest is high, but it does have some rewards which gives me a free tank of gas about once a year. No annual fee
I work at Costco in refunds and the amount of stuff I see get returned is crazy!! On the side note I had the option to book a $3k vacation on my csp or my Costco Visa card and I ended up going with the citi card since I would get 5% back essentially. If you have any questions on returns let me know
Can you basically return anything at Costco? Things that have been opened and used?
The only store card I want is the Best Buy because I buy a lot of video games, and the extra reward points on top of the Gamers Club points really do help me rack up the savings
Excellent points! I think some people just like the convenience of not having to spend time managing the quarterly bonus with gift cards for future spending. It's effortless to get 5% at Amazon with their card. For groceries, or gas, the convenience of having a card that works year round has a lot value - no future planning necessary. 😊
You scoff at the chicken reward. Well, let me tell you that I got a approved for the Costco card the other day and they had no bonus offer. I had to buy the chicken for five dollars. Lol
You should have waited for the $7 apple pie offer ;)
Fun fact: if you put “fun fact” in front of anything people will read it.
I have a Kohl's card and only shop there when I get 30% off coupons
SAME here LoL
I will not waste another inquiry on a store credit card. Two of them closed my account, due to inactivity. Next card I apply for, will be a The Amex blue everyday card.
Will closing a store credit card negatively affect your credit score long term?
I know the older the card the harder the ding. Especially if you have the card in good standing.
Yes & no. Yes, Because you’ll decrease the amount of available credit, which may make you credit utilization go up. For example you got two credits card $1,000 available credit on both. One card has a $500 balance and the other, which is the one your closing has a zero balance. Before closing your credit utilization would be 25% because you’re using $500 out of $2000 available. Once you close that card. Your credit utilization would got up to 50%. which will lower your credit score.
No because…. Your question is 2 years ago, so I’m sure you’ve discovered the answer.
I once let Target and some other cheap chain store talk me into their credit card and when I went in to buy a car, my interest rate went up by about 50% so those stupid cards were EXPENSIVE. Luckily, I was able to pay off my car within 6 months due to a gift from my mom. When you open stupid card accounts and two in the same time period, note that your credit score will CRASH drastically!
A Chicken. I'm DEAD. 2:00 minute mark.
Several years ago, I was approved the Walmart Discover Card, a few months later it was branded a MasterCard. I found that there was little benefit rewards and high interest. For getting approved they gave a one time $25 off coupon/credit. The only other “perk” is that it came with optional insurance, up to 10K, to pay off the card in the event of layoff or disability. I’ll never apply for a store card again.
They have changed this card to the capital one Walmart rewards card you get 5% cash back on online grocery pickup I'm glad I got it.
I have the Target card. 5% purchases and Best Buy Visa just cause they gave me a large credit line
Know this is kind of an old video but you're practically right. In the sense of store credit cards. I'd only get them if it has a great bonus specifically to the store and being able to use it elsewhere.
For example, I have the Amazon Prime signature rewards card and I tend to make most of my purchases there with the exception of other groceries monthly but they do offer bonuses with whole foods and that pretty much now makes me consider whole foods not only because of the points but they have had a lot of recognition with their quality of groceries.
Now on to others I have a Newegg store credit card. Only reason I have it is because I frequently shop between Newegg and Amazon for tech. I just find Best Buy to be a rip off and their services to be downright trash. Newegg has their premier service which can go great with their Store credit card but I wish they'd also consider having a similar approach to Amazon.
Store credit cards just depend on what you shop in most often but if you are wanting to get a store credit card please consider the options and benefits and if it's a rewards points based store card then go for it.
I have a PayPal credit line and a Samsung one due to me getting Samsung tech etc and they tend to give nice points with shop Samsung but at the core of it. It's still a generic store card if it didn't have the perks with the Samsung store I would of just let it collect dust till I upgrade a phone or monitor lol.
I got a $60 cash card from Costco by signing up for a new membership, upgrading to executive, and getting approved for the Costco card. Wasn't much, but better than nothing.
I have a Bestbuy card because I purchase nearly all my gadgets and electronics from the local store. Bestbuy has an excellent price match program, and I like that I easily return items if need be. The only downside is that the card doesn't provide warranty coverage. The points also come in handy. They typically cover taxes.
Synchrony Sam's card gets me 5% back on gas, and 3% on dining, for a no AF card that's pretty good, the 5% back on Sam's purchases(with the Plus membership) made that an easy choice. Getting 5% back on Amazon and beginning a relationship with Chase made the Amazon card desirable to me. If I need spend to get a sign up bonus I can always use that card at either one if I am fighting a deadline.
Biggest mistake ever was signing up for the uber STORE card and not the CREDIT card
I know this video is three years old but the whole point behind companies giving out store credit cards for cash back is because by doing so they are making customers mentally committed to shopping at their store.
If someone has a store card lets say one at walmart 5% cash back they are more likely to do most of their shopping at walmart including groceries and by getting you in the store youre more likely to see other things you like and spend more money. Its all about getting you in the store and getting you going there consistently.
Yep. Generally why I'm not a fan of these cards. I want to go to the place with the best deal vs. focus on the 5% and potentially pay a premium.
Not mutually exclusive of course (Walmart is usually a good deal as well).
People even return half eaten pizza at Costco.
Lol that is sad.
mai - I saw someone return a window air conditioner after the summer season was over. The unit looked like it was 5 years old.
Louis Caruso 🤣🤣🤣
Retail cards like Barneys and Bloomingdales offer free preview to sales and a % of your annual spend back onto a gift card, the % is based on what you spend. You also might receive occasional gift cards in the mail for $100-$200 just for being a cardholder and customer. Free shipping and messenger service in Manhattan for Barneys and free valet at the Beverly Hills location. I’d have to do the math to figure out if I come out ahead vs other cards but the Bloomingdales card is insane with the amount of points you earn you get massive discounts, that one pays for itself if you frequently shop there.
Definitely YMMV. Mandy has a Nordstrom card that gives free alterations up to $100 every year (with no AF). There's definitely sweet spot perks.
omg Costco card sign up bonus: free chicken.
mcdonalds sign up bonus: free big mac super size meal
the only 3 store cards I've considered:
sears mastercard (for targeted 10% CB offer - seems a bit uncertain as to actually getting that particular offer)
target (5% on all purchases is nice, but I honestly don't go to target that much...I might, though, but meh, other more critical cards in my sights)
banana republic (the perks look enticing, but I've never even been to a banana republic lol.)
Ironically, those are some of the store cards I've been tempted by in the past, but never really jumped on.
f4phantom2500 i
I only have 1 store credit card and that is the IKEA Projekt Card. I got it because I may be moving into my own apartment within the next year and IKEA offers (anytime) flexible no interest plans on certain dollar amounts purchased. I believe its 6 months 0% interest on $500+, 12 months 0% interest on $1500+, and 24 months 0% interest on $3000+. Other than that all my credit cards are either Mastercard or Visa that can use anywhere. I value my freedom more than chasing after store sign up bonuses.
I think the Capital One Walmart card is a great investment. Walmart is not going anywhere. I feel the same way about the Marriott or Hilton hotels. I think a Hilton Aspire or Bonvoy Brilliant from Amex is well worth the annual fee.
i got the home depot card because i can get 6 months or more zero interest depending on how much i spend. great for larger projects cause i can start now and budget instead of not doing a home improvement while i wait and save up. also we have an apple card thru barclays because it let us buy a new mac with 2 years 0% interest.
YMMV but I'm personally not a fan of buying things I couldn't otherwise pay for.
I understand the sentiment to be prudent and responsible, and if it were for personal enjoyment I would probably be echoing your statement. But in this case, that 0% capital enabled me to invest in business improvements that cash flow and generally pay off before a dime of interest is due : ) hard to beat that
If the store closes, the bank that issue it would change it to one of there own cards.
...but not all of the issuing banks are legitimately connected to another market.
My Kmart/Sears card is issued by Citi, who will (and has tried to) flip everyone onto a MasterCard emblazoned version of the same card. In-house private-label store cards might not have a legitimate Visa/MasterCard basis. My store card through Gordmans/Stage is Comenity Bank, they might try to push me to another local store if their Gordmans accounts have nowhere to go to, but they might also closed the accounts. Or as an example, bother Valero gas stations and Firestone Car Care have psuedo-banks established solely for issuing lines of credit to their customers. I have a Firestone credit card to get my cars serviced at my neighborhood Firestone (but can use nationally and online); it is issued by CFNA Bank, who is owned by Firestone solely to issue cards to Firestone customers. In their case, if Firestone goes under, it doesn't mean the bank wouldn't get sold off first. [Such as my Kmart/Sears card which is now issued by Citi, but used to be backed by Sears... Not to mention Sears created Discover Card in the 1980s as their in-house and external card before selling it off in the early 1990s(-ish).]
A chicken ?? IM THERE... SIGN ME UP
Sometimes they have chicken AND a pie.
What about the Amazon Prime card?
Sebastian, I have a ton of store cards to boutiques. I get access to early sales, cash bonuses, free shipping to my home and early access to look-books. (Important to me)
You are making me reevaluate these cards, and their actual value. I never thought to buy gift cards... I have the Discover IT... And I'm not maximizing my first year...until now... Glad that I found your channel.
The Triangle Rewards MCs are pretty good here in Canada. It's a store specific card and the return is only doled out in Canadian Tire money, but it still gives back a decent 4% back at CT, Mark's, a SportChek, Atmosphere ect. plus a per litre return on gas at GAS+.
There's much more once you upgrade but the standard alone is worth for rounding out your wallet.
Hey Sebby, first off I want to say your channel has helped me immensely to understand my credit score and ways to improve it. For that I thank you. And my question is, I am looking into getting a car shop store cars just because they offer you to do payments with no interest as long as you pay it off in less than 6 months. So what is your opinion in car shop cards, if you've used them or if they are helpful. I'm looking into getting one from Firestone or Midas just because they offer the payment option. Plus car maintenance is expensive so payments really help out. Hopefully you can answer, thanks again!
I know someone who has certain store cars (Sears, JC Penny (don't remember if they're both the same), and Home Depot) because of the financing options (and I assume extended warranties) for purchases such as washer/dryer machines. Something about no APR for a certain period of time. She got the HOme Depot one to help a friend with bad credit to buy some things for her house rennovations (of course this is a trusted friend with a stable job and income to pay her back that has not gotten her score back up yet after a mistake when she was young).
Amazon has now begun to offer their own card through Syncbank. They offer 5% rebate which is automatically applied to your bill. I have given up using my Chase Amazon Business Rewards cards which gives only 3 % Amazon rebate.
I think store cards can be good for discounts on clothing.
Hey Sebastian, all in all I do agree with you. I have a few credit cards in my wallet. One retailer credit card I have is Amazon and the other retailer (store card) is target. For the Target card, getting rid of it because it has limited benefits for me would be the smart thing. But the amazon card has more benefit so I would keep that one. But having cards from financial institutions like chase, citibank, etc. usually has better rewards for cash back cards. That's a general rule of thumb.
I still have Costco Visa because it was converted from Amex Costco. Keeping the credit history.
lol a chicken!!!!!! hahahaha that cracked me all the way up!!! haaaa
Thanks Sebby, I was thinking of getting a couple of store cards, but wanted to come here first...with the Chase Unlimited you can get discounts from stores regardless...
Macy’s card is also good you get up to 45% off in products
Costco accepts dead Christmas trees after Christmas. Apparently it’s a pretty common thing.
You are so awesome. Thank you for these suggestions on the Points game! :)
I learned this the very hard way. I had PC Richard.. Best Buy...Banana Republic...Macy's. On top of 2 chase credit cards & an Amex. Please if your reading this(I'm 100% debt free now) credit card debt starts so easy. Please don't spend more than you bring in a month
Costco card is probably a great investment if you’re someone who is a die hard Costco member (or at least someone who is planning to shop at Costco for 5-10 years). It’s actually one of the best Citi cards you can get. However, I find it a turn off that you must maintain a Costco membership pretty much forever unless you’re willing to get your card and credit history cancelled. Also cash bank redemption is too inconvenient.
Agree, I like the BJs card better. $20 increment cash back though it can only be used at BJs. 5% > 2% at Costco and BJs' gas discount is better too (10cents off per gallon which is 5%@$2/gallon where gas is at now).
My mother has the citi Costco card, since she shops there almost every other day, she benefits the most off of gas, and grocery spending
You know the shade is real 00:46 when banana republic is going out of business 🤣🤣🤣🤣🤣
I only have a Apple Barclays because I thought it was a good deal. It's nice to pay a computer at your own pace with no interest... but that's about it..
The half of chicken is hilarious 😂🤣
What's for dinner tonight?
Uh ...chicken
Better get approved
I have store cards that give me 5% cash back. I chose the cards because I shop at those stores weekly and can't foresee a time when I won't be shopping there.
I hope they give turkey as reward this year
I'm planning to get the Sears MasterCard, but only because of the targeted 10% offers. I think there's a 5% gas offer too, so that's cool. Although the rep I spoke to on the phone said that these offers go out to everyone who owns the card, everything I've seen online says it's targeted and thus not everyone gets it? Regardless, the only other card that I might apply for after this one is the Amex Hilton Hhonors, although with the CSP (will upgrade to CSR) and the IHG card, the Hhonors card may be a bit moot - although it is free and will allow me to accumulate Hhonors points at a good rate, a much better option than transferring UR points to Hhonors points at a 1:1 rate.
The Target Card is pointless for those in the rewards game: Target offers a *debit* version of the Red Card, and it has all of the benefits of the CC: 5% off all Target purchases, free shipping on Target.com, and 30 day extended returns! It links to your checking account, giving you the full benefit of the Target CC: the only "advantage" the CC has is that it's a CC...yeah...
I'm also getting the Chase Disney Debit card, which I haven't gone to Disney in years but hey! Whatever, it doesn't cost anything to do and watch sometime I'll be at Disneyworld and like OH YEAH I GOT THIS!!!
Speaking of debit cards, I've also found a bank that has a local branch that offers a *checking account that gives you 5% cash back on the first $200 in purchases every month!* For some perspective, that's not far off from the $250 limit of each gas and groceries that the Sallie Mae Rewards card had, but each of those categories were of course limited. This is $200 on everything: *If you hooked up a Target debit card to this account, you potentially could get 10% off of a $200 purchase at Target, simply by using that card!*
I've considered the Sears card for the same reason and my understanding is that, almost everyone, gets targeted.
Ask Sebby right on, sounds good. I think I read that Citi does 3 hard pulls??? That's one reason why I'm probably gonna do this one last, or second to last
Excellent points. I lucked out because my first credit card was an Amazon card (which is the only "store" card I think most people consider). Since that was 4 years ago I'm well past the 5/24 relevancy of it and I'm left with a pretty neat 5x back card. The sign up bonus was sub par ($50) and it used to be 3x only!
I would really be interested in you doing a keeper card video. Keep up the awesome vids!
I get store credit cards because i do appreciate deals at places. I am also smart with them and i never exceed 30 percent of my credit limits. I always ask if i can pay the card off after a transaction as well
wtf a chicken
Dunkin Donuts gives you a Free Donut when you sign up for their card.
I get store credit cards simply to have the additional unused credit and to show aged accounts. I've had Kmart/Sears & Gordmans credit cards since my early twenties. I am addicted to Kmart, so that card has more than paid for itself (essentially like having the Discover-It 5% with all purchases). Unfortunately the last Kmart has closed in my city, so going forward the card will be reserved for emergency auto-repair for my boyfriend's car (which is a rusty-but-trusty Dodge minivan, as there's still a Sears Auto-Center in town). If/When Kmart/Sears officially kick the bucket, I'm looking forward to see what happens to the card. A year ago Citi tried to push everyone to the Kmart/Sears/Citi MasterCard, but I opted-out to stick with the plain-jane store-locked in-house card. My Gordmans card was issued by Comenity (the largest of private-label store cards); Gordmans went bankrupt, but we're bought-out by Stage...the credit card continued as is. I figure I make a purchase 2-3 times a year, and Gordmans continues as-is as an aging account in good standing. I'm also a bit of a gambler, so I don't need to use my real credit cards with random BS I don't really need to be buying.
Did I make the right choice by acquiring a Newegg store credit card to buy parts for a $2,300 PC build? I paid it off within a year so I paid zero interest.
Store cards to build the base.... then as you transition to better cards you end those relationships.
Amazon Prime credit card was my first one and I'm glad!!
I accidentally applied for a Old Navy store credit card because of the employee vague description 20% promotion I would receive and my lack of knowledge. I will never shop at this ever again place and I was wondering what options do I have to cancel it or not use it to not hurt my credit score?
Kinda misleading info here. As a cardholder with a store card, you tend to get better offers and sales too. So, sign up bonus and percentage back aren’t the only things to consider.
Extended warranty on half a chicken!
Doesn't work for food / batteries / bunch of things :)
Lmao free chicken. Returned half a chicken. Oh my goodness 😂😂😂
a few months ago i got a best buy credit card but am now regretting it... ive got a 2k limit on it and its the card that can only be used at their store, i have never made a purchase with it. what should i do? should i cancel it or just not use it? i feel like it would be better to use another credit card that earns cash back..
I have had a target card for a few years but really want to close it. I don’t typically like the idea of closing cards but really regret getting this one. I have two other well established cards with higher credit limits anyway. I know I can always avoid using it, but is it really doing much for me? does anyone recommend closing it, and if so, what’s the best way to do this? if not, why should I keep it?
it sucks, my very first credit card was with Best Buy, so I am kind of forced to keep it. The only reason I got it is because when I was 17 or 18 I wanted to buy a computer and I wanted to build my credit as well. On top of that Best Buy had it to where if you paid using a Best Buy credit card I was able to pay it off in 12 months with no interest.
At least no AF. Sockdrawer :)
#AskSebby Are there any limitations or con's of getting a lot of business credit cards? Like for Amex and others is it hard to get multiple biz cards? Are there any downsides to biz cards besides the hard pulls?
For Chase, it's hard to get more than one. Amex doesn't seem to care. No real cost/issues for the most part.
I made so many mistakes. Wish I would have known this a year ago. Hit Chase 5/24 rule >_
www.asksebby.com/free-card-consultation/
Can store credit card companies take you to court if you can no longer pay? Like Kohl's, Sam's Club etc?
Also, I appreciate your effort, but this video really needs clarification between private-label store cards (which can only be used in-house at those stores) and cards branded for a store but functioning outside the store as a Visa/MasterCard. Citi bank issues/backs a credit card for Best Buy (and Kmart/Sears, among others) with & without an external relay. You can get an in-house private-label Best Buy card (issued by Citi) to only use in-store (or online) at a Best Buy, or you can get a Best Buy Visa/MasterCard (also issued by Citi) that can be used like any other merchant accepting Visa/MasterCard.
It wasn't a credit card, but my favorite bad offer was San diego county credit union (sdccu) giving a free fish taco from rubios as a checking account bonus.
What if you really want the chicken?
I have a Forever 21 credit card, and I don't really shop there anymore. My balance is $0. But my credit line is $2000. If I cancel it, my available credit will dramatically decrease. What should i do?
I would just keep it open. It's not hurting you :)
If you want to talk strategy: www.asksebby.com/free-card-consultation
Ask Sebby wow I just found out about your channel and didn’t know you offer cc advice. That’s so generous! I just got approved for my first ever Amex card, but wish I would have checked your opinion before making my decision. Next time, I’m sure! Thank you! Oh and I’ll just keep the F21 open. :)
Can they help with rebuilding your credit if you use it responsibly?
Why not secured cards? www.asksebby.com/blog/comparing-secured-credit-cards-from-major-issuers
In banana republic they cards if u don’t use them in 5 to 6 months period they close them automatically does that affect ur credit what so ever?
Closed by them = ~same as cancel in this case.
See: "How Does Canceling a Card Affect Your Credit Score?" ruclips.net/video/zb17MeeXNVQ/видео.html
I’m surprised the Starbucks card gives a free drink with approval. It’s one of the worst entry Chase cards.
But the debit card is pretty good.
😯 whoah Sebby.. that was a good cup of coffee on this video lolll
Can it work out if you get a store credit card simply to buy a very large purchase by finances, save up a month, pay off the finance and immediately close the credit card?
It would work but it's detrimental to your credit score long-term: ruclips.net/video/-nrIxCtoZd0/видео.html
If you shop at a particular store enough, you might as well keep the card (most have no annual fees).
Only store card I have is the Sam's Club cc. With my USAA Amex it ensures I get 5% back on gas throughout the year and both have no FTF
Amazing detailed useful information!