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Major electronic stores will often feature their own credit cards, which they offer to their customers aggressively and frequently. If you are in the market for an electronics item and don't yet have a credit card for an electronics store, you may want to combine the purchase with applying for a card because you can usually save at least 10 percent off the purchase price by opening an account. In order to make this a real savings, though, you need to make sure that you don't go on a shopping spree with the available balance on the card and that you pay off the balance on the card before any interest kicks in. Otherwise, the 10 percent you save will seem like nothing compared to the twenty-something percent in interest on the credit card balance. It's a good idea to use the opening of a store credit card as a way to save money, but only if you are the type of person who will pay off the balance immediately instead of letting it linger and accrue interest.
|Sheri Ann Richerson|