Saturday, August 11, 2012
Save Money by Using your Department Store Credit Card
Even though running up credit is not a good thing, you can actually save money if you use a department store credit card. You need to make sure that you can pay off the entire amount you spent on your next bill, so put that money away before you shop.
I have a few Department store credit cards that I keep just so I can receive the savings you get in the mail by being a “loyal” customer. I love the items in Kohl’s and it is one of my favorite places to shop, so I have one of their department store credit cards. I just received a Kohl’s flyer in the mail and it has a 30% off coupon that I can use on everything in the store, (whether it is on sale or not) as long as I use my Kohl’s credit card.
I can even earn Kohl’s cash,(which are $10.00 coupons that can be used toward any purchase of $10.00 or more) depending on how much I spend.
I put money away little by little, that I will be using for clothes shopping anyway, and when I get my department store coupon in the mail I put the money in the bank so I can use it to pay off the entire amount of what I spent on my shopping trip. This is the only way I have found that a credit card can actually save you money. When the bill comes I pay the entire amount and I do not get any interest charges, it is just like using cash, except I am going to save 30% on my entire purchase.
By using the advantages of having a department store credit card, like getting coupons for a percentage off your total order, and buying items that are on clearance, or a regular sale, I always save more than I spend.
For example, on one purchase that should have totaled $535.00, I only paid $85.00, and I received $10.00 in Kohl’s cash to spend on another day. This is with the savings that came from items already marked down, plus my coupon for 30% off.
Remember the only way to save money by using a Department Store Credit Card is to have enough cash to pay off the entire amount of your purchase when your bill comes, if you don't you will not save money. The interest charges on any balance you leave on your department store credit card adds up fast and that means that you may not save any money at all.