Posted on 4 Comments

Is It Time For Plastic Surgery?

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Will you be putting this on your store card today?  Oh, you don’t have one?  Well, if you apply for one today, we can give you $50 off your purchase! Well, if you’ve ever been shopping, I’m guessing that sales pitch sounds familiar. But are department store cards a smart way to save money … or are they a bad idea?

Most of us know someone who has more credit cards than Baskin Robins has ice cream flavors. But 3 out of 10 adults don’t have a credit card, and the average is 2.6 per person which is the lowest number is decades.

Branded retail credit cards can save you money on your purchase when you apply, and often there are other discounts or rewards. So, are retail cards a smart way to save money? No, I don’t recommend them. They are a marketing tool by retailers who also make a lot of money on the interest they charge customers who carry a balance. You’re also more likely to be a victim of identity theft if you have lots of cards.

My suggestion: perform some plastic surgery! Any scissors will do the job!

4 thoughts on “Is It Time For Plastic Surgery?

  1. So is the answer none? We use only 1..maybe have one other.

    1. I suggest no more than two to keep life simple and to reduce the likelihood of identity theft.

  2. I haven’t had a credit card at all for about 15 years. Is there a benefit to having one of which I’m unaware?

    1. One of the biggest benefits of a credit card if you are not using it for credit, is that it can build your credit score which can be beneficial for many purposes.

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