What's Your Take on Store Credit Cards?

Bankrate recently shares the .

Overall there wasn't much new information there, but it got me to wondering what FMF readers think about store credit cards.

Personally, my credit card strategy does not involve many store credit cards. Here's why:

• I want to carry/have as few cards as possible. As such, the cards I do have need to be flexible (i.e. accepted at a wide variety of locations). Store cards are not flexible since they can only be used in one place (usually).
• I do not shop at many places enough to have a store credit card. If I spent a gazillion dollars at Kohl's, Best Buy, or Sears, maybe I would have their cards. But I don't shop that much so I don't have the cards.
• My two exceptions are Amazon and Costco. I shop a TON at both places. The Amazon card gives me 5% back on all purchases there and is virtual, so I don't need to carry anything. The Costco card is a Visa, so it can be used anywhere and it saves me 4% off on already cheap gas. It also serves as my member card, so I don't have to carry an extra card.

Other than that, I rely on my Fidelity 2% cash back Visa and Chase Freedom Visa (with its 5% quarterly categories) to make all my purchases.

How about you? Do you have/use store credit cards?

Comments

[Memories]

We have both Amazon and Costco as well. Also have Gap card because we can use it at Old Navy, Gap, Banana Republic and the Gap and BR Outlets (3 kids me and the misses = lots of clothes each year).

I don't really care for most store cards, the only reason to have them is if both 1) you shop there often and 2) has a better discount than a regular cards.

[Chadnudj]

We have the Costco card, and my wife has a Target card (which we justify since you frequently get 5% back/off your purchases there with their card).

I've never had a store card, and don't want one.

I prefer quality over quantity, and stick to having just a handful of really good, high-end credit cards that I keep an account with forever.

Like you, I use the Chase Freedom, for example.