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Pros and Cons of Department Store Credit Cards

Written by: Kristy Welsh

Last Updated: July 25, 2017

department store credit card is easy to come by and tough to turn down. You can save money on the spot, gain access to exclusive offers and other members-only perks, and have a fallback cushion for those times when you need a gift or a last-minute outfit and are otherwise broke. Having a department store credit card sounds great but are they really?

The answer is maybe yes, maybe no. There are pros and cons to having and using a department store credit card. If you are the type of person that will be tempted to "shop till you drop" simply because you proudly hold a Macy's card, it's probably not a wise move. On the other hand, if you pay off the balance in full at the end of each month and have not overextended yourself with numerous card applications already this year, a department store credit card could be a good card for you.

Pros of a Department Store Credit Card

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Cons of a Department Store Credit Card

So the next time a store clerk tempts you with instant savings via a department store credit card, take a timeout and think through the pros and cons before making your decision. Or better yet, ask for the application and read it through before signing on - you'll be glad you did.

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