Anonymous wrote:

Anonymous wrote:

Anonymous wrote:You get 5% off every purchase

At what, 29% interest? That does not make sense unless you plan to never carry a balance.

Let me correct myself. The interest rate is 22.90%. Which is a high price to pay just to save 5%.

Ummm...I haven't carried a balance on a CC since I graduated from college and got my first job some 26 years ago. Why is it so hard to imagine that you don't buy anything unless you can pay it off?

OP--when your debt load changes drastically (like taking on a mortgage), they will often deny new credit until they have at least a couple of months of credit history of you paying your bills with the new load. If you go from one mortgage to another, this doesn't always apply, but if you are a first time homeowner, this often applies unless you have a relatively low mortgage monthly payment.

We put all of our purchases on credit cards every month, then pay them off every month when the bill comes in. We aren't charged interest and earn lots of rewards points.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:You get 5% off every purchase

At what, 29% interest? That does not make sense unless you plan to never carry a balance.

Let me correct myself. The interest rate is 22.90%. Which is a high price to pay just to save 5%.

Actually Target has both debit and credit cards. And if you pay off your bill every month, 5% can be a significant savings.

I got denied for a Sears card! No reason whatsoever - my credit was great. I was only getting the card to buy new kitchen appliances there, and it made me pretty irritable so I bought my appliances elsewhere.

Anonymous wrote:

Anonymous wrote:You get 5% off every purchase

At what, 29% interest? That does not make sense unless you plan to never carry a balance.

Some cards (Best Buy, Home Depot, Ikea) give you 0% interest for the first 6-18 months. So I do this, then pay it off over time, interest-free. I could have paid it in full, but might as well have the extra cash and earn a bit of interest on it at the same time.

Always pay my card within 48 hours of making a purchase. Does wonders for your credit score

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:You get 5% off every purchase

At what, 29% interest? That does not make sense unless you plan to never carry a balance.

Let me correct myself. The interest rate is 22.90%. Which is a high price to pay just to save 5%.

I turn around and immediately pay off my Target account. Before I even unpack whatever I have bought. Also, you can set up an auto pay, which is helpful if you know you spend a set amount per month.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:You get 5% off every purchase

At what, 29% interest? That does not make sense unless you plan to never carry a balance.

Let me correct myself. The interest rate is 22.90%. Which is a high price to pay just to save 5%.

Plenty of people pay off their balances every month. Many of us do actually live within our means and spend responsibly.

Anonymous wrote:

Anonymous wrote:You get 5% off every purchase

At what, 29% interest? That does not make sense unless you plan to never carry a balance.

Let me correct myself. The interest rate is 22.90%. Which is a high price to pay just to save 5%.