It is inevitable and slightly annoying. Whenever I go to make a purchase at a retail store, I am asked if I would like to apply for the store credit card. Some cashiers are nice about it. When I say no, they just nod their heads and go back to ringing up my purchases. Other cashiers I would like to strangle.
I am talking about the cashier or the store employee who just won’t take no for an answer. The ones that ask you if you are sure several times in a row or the ones who give you the look like you are from an alien planet because you don’t have their card. The worse, I’ve found, are the ones who assume you already have the card and when you can’t produce one, sympathetically whisper that they can help you get one, as if the feel really sorry for you and are offering their help to rectify the situation.
People, I don’t believe in store credit cards. Thank you.
There is good reason to say no to these offers at the checkout line. Beside the obvious of having a potential time bomb of death on your hands, the instant bonus savings applied to your purchase can come with some stiff penalties that more than offset the extra 10 percent you might be getting on that one purchase.
First of all, you won’t have time to read through the fine print. After all, there are several people behind you who would like to check out in 2.5 seconds or less. Second, store credit cards are one of the worse deals out there.
Store credit cards tend to have one of the highest interest rates around and generally the lowest limits. This is because they are offering the same terms to everyone across the board, regardless of credit rating or spending habits. You get lumped in with the masses and don’t get a chance to qualify for better terms.
Adding additional credit cards can affect your credit rating, and this could lead to lost opportunities and higher rate increases on the more important credit cards that you already own.
So the next time you get one of those offers at check out, just say no.
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