Easy to get and pushed by pretty much every major store out there, store credit cards can be a good thing for those looking to build or rebuild their credit. Almost all offer discounts or rewards of some sort, but not all are created equal, either in the rewards they feature or the interest rates they charge. Credit.com has a list of the top five store credit cards out there. Number one? Kohl’s:
This department store offers a 20% discount on a customer’s next order when they open an account, which is above average for such offers. In addition, a 15%-off coupon will also arrive in the mail with the new card, plus 12 more discounts of 30%, 20% or 15% every year. Furthermore, those who spend $600 a year or more at Kohl’s stores will become a Most Valued Customer (MVC) and receive at least 18 discounts a year. So even though it doesn’t offer rewards points for each purchase, it offers plenty of more valuable coupons, which can even be combined with other offers. There is no annual fee for this card.
See all recommended store cards in this Yahoo! Finance article.
Anyone who has ever found themselves either struggling with debt or on the receiving end of harassing debt collector calls wishes that there was some form of manual that would give them tips on both dealing with the situation and even fighting back. Well, apparently there is. Read more…
If you own a Visa or Mastercard, be warned: new rules allow some merchants to start charging a surcharge on your purchases starting on Sunday.
The surcharge is supposed to equal the actual cost of processing the credit card transaction, which is typically 1.5 to 3 percent. Under the agreement, the fee is capped at 4 percent. The surcharge can vary based on the type of card. For example, it could be higher for a rewards card or premier card.
There are a ton of “but”s attached to this new charge. If a retailer also accepts American Express, they will not be able to apply the charge to Visa and Mastercards (AmEx doesn’t allow surcharges, and the retailers would have to uniformly apply the charges to all credit cards). Credit card surcharges are banned in the following states: California, Colorado, Connecticut, Florida, Kansas, Maine, Massachusetts, New York, Oklahoma and Texas. And the National Retail Federation claims that most large retailers (many of whom they contacted) would not be implementing the charge, at least in the short term (long term? Well, what do you think they’ll do… yeah, me too). Smaller retailers in the short term, however, may be another matter. FYI.
Source: NBCNews Business