Should I apply for a department store card or some sort of other credit cards?

  When you decide you want to get some sort of 'Plastic' one of your first questions to yourself normally is, should I get a department store card application or some major credit card applications?  Shopping at one major department store all the time will get some people considering a department store card.  Especially when they are shopping at that store one day and they have a display set up giving away a free t-shirt or 10% of a purchase or something.  But in reality, any major credit card applications would normally be better for them to be filling out no matter what kind of goodies the department store is giving away.

  There are a few reasons why major credit card applications are better than the department store cards.  The most basic reason is the flexibility you get with bank credit cards.  You are not limited to shopping at just one store or one group of stores.  You are able to use your Visa, MasterCard or American Express almost everywhere. 

  The next thing you should be doing is comparing the department store card application with the bank credit card applications.  In almost all cases, the APR is going to be significantly higher with the department store card.  This will cost you a lot of money in interest charges as you start to charge things on the card and carry a balance from month to month.

  One of the perks that might get you wanting a department store card is if they offer you some sort of points that can be redeemed for products later.  Again, there are credit card applications for major credit cards that will offer the same type of benefits, if not better perks.  You can get credit cards that give you cash bank, air miles or points to be redeemed for products. 

  Another thing that  you have to be well aware of is the department store incentive of "No Interest, No Payments for 90 days" or whatever length of time.  You must read all the fine print with all of these offers.  A lot of the time, there will be upfront fees that you have to pay in order to be eligible for this offer.  And these fees can be quite high in some cases.  There is also times where if you do not pay the full amount off by the end of your 90 days or what ever period, you will have to pay interest right from the day you purchased your product.  So it is only interest free if you pay the whole balance at the end of the time period given.  You have to be really realistic if you are going to be able to pay it all off within that time period.

  The only time I would suggest you apply for a department store card instead of with any of the major credit card applications is if you have been declined for major credit cards already.  Or if if you have bad credit and do not want a secured credit card.  Many times getting a department store card can be a little easier than getting other credit card applications approved.  This would be the only time I would suggest in applying for a department store card.  For most people with good credit, I would suggest going with one of the many different credit card offers available. 

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