Just about every major U.S. retailer offers a branded  credit card that can be used to pay for store purchases.  Kohl’s is one of these stores which provides shoppers an opportunity to save money and earn rewards by using their Kohl’s credit card for purchases.  To get the most out of any department store credit card, consumers must understand the terms and conditions associated with the account.  In nearly all instances, store credit cards are not the best credit card offers, even for die-hard customers. Here we weigh the benefits and drawbacks on the Kohl’s card

Member Savings and Rewards

When you apply for a Kohl’s credit card you can save 10% off your next purchase.  Members receive exclusive discounts 12 times per year that can be used to save even more money.  The extra 15%-30% discounts can be applied to all merchandise including sale and clearance items.  Already known for affordable prices, Kohl’s makes it easy to save money when using the Kohl’s credit card. (more…)

With the price of gasoline remaining higher than anyone really wants to pay, it can be tempting to get a gas station credit card which offers rewards just for filling up your gas tank.  Why wouldn’t you want to save some money for buying gas – something you have to buy anyway?  The theory is good – being rewarded for a purchase you can’t avoid making – but there are some problems with gas credit cards that make them less useful than you might think. Consequently, even the best credit cards tied to specific gas stations pale in comparison to mediocre credit card offers.

Here is why you shouldn’t get a gas station credit card:

Most gas station credit cards will only offer good rewards when you get gas at a specific gas station.  This means every time you have to fill up at a different gas station, you lose your chance to get rewards or get much lower rewards for the purchase. Additionally, a large number of gas station credit cards are not part of the Visa or MasterCard network and can only be used at the gas station you got the card. This makes them utterly useless if you need a general purpose credit card. (more…)

The Home Depot credit card is a member of the Citi Credit Card family, which means you benefit from the quality of Citi credit cards in addition to the ability to make interest-free purchases at Home Depot. One of the best features of the Home Depot consumer credit card is the ability to get instantly approved in store  and get immediate access to your account to make purchases.  The ability to shop instantly upon approval is ideal for people who need to replace an appliance or need products from the store without waiting.

Unfortunately, the Home Depot card has significant drawbacks. Although it has many of the features of a 0% APR credit card, 0% promotions on the Home Depot card are much shorter than those offered with most credit card offers. Additionally, the Home Depot card is the polar opposite of a low interest credit card, as the lowest available rates they offer are often 30% higher than what is available on typical cards.

Nevertheless, some consumers can definitely benefit from this card, especially those who apply and use their 10% discount on an expensive purchase, like appliances, carpeting or a kitchen redo. (more…)

Cabela’s, the sporting good retailer, offers a Visa credit card that is targeted towards shoppers who frequent their wildly popular stores. Unlike many store credit cards, the Cabela’s card charges a reasonable interest rate and can be used wherever Visa is accepted. However, as is the case with all credit cards that earn limited, merchant focused rewards, consumers are often better off with a 0% interest credit card that offers cash back or some other form of rewards that permits greater redemption flexibility.

How It Works

In a nutshell, the Cabela’s credit card promotes shopping at Cabela’s with incentives to earn Club points. While shoppers who spend a lot of time and money at the retailer can benefit, most people spend the bulk of their money at a range of stores. However, Cabela’s fanatics who opt for their credit card earn two Club points for every dollar spent in store.  An additional 1,000 points is granted as a bonus when a  customer applies and gets approved for the Cabela’s Club card. This is a nice perk as far as store credit cards go, but it pales in comparison to the $100 and greater sign up bonuses offered with the best credit card offers. All purchases at other locations earn 1 point for ever dollar spent. (more…)

One year ago, consumers were still finding it difficult to gain approval for credit cards. Today, credit card companies are rolling out the red carpet, offering applicants sky high sign up bonus, ultra long 0% interest rates, and just about everything else under the sun.  Finding a good credit card is no longer an issue, and the deals available right now may be the best credit card offers in history.

Here is what you can expect to find in the most popular credit card categories:

Cash Back Credit Cards:  For a while it looked like cash back credit cards were on the decline. Today, credit card companies are not only offering better cash back rates, they’re also offering $100 sign up bonuses. In most instances, all that needs to be done to obtain these bonuses is spend about $500 within three months of signing up. This is usually not a problem and is as good a reason as any to ditch your old credit card.

Rewards Credit Cards:  General rewards cards are offering even greater sign up bonuses than cash back credit cards. Recently, some companies have floated $500 sign up bonuses. Incentives like these have never been bigger. And, while only two cards have come out with $500 sign up bonuses, close to a dozen airline credit cards offer bonus worth $250 or more. (more…)