[ad_1]
Q. I’ve obtained many affords for retailer bank cards whereas vacation buying. I’ve by no means gotten a retailer card earlier than however I do know I’ll get plenty of coupons if I do. Is it value it?
— Procuring nonetheless
A. All yr lengthy, however particularly in the course of the vacation season, you’re proper that plenty of retailers are hawing their very own retailer model bank cards.
These playing cards could also be value it in the event you plan on paying off your card in full every month, mentioned Altair Gobo, an authorized monetary planner with U.S. Monetary Companies in Fairfield.
But when not, you must bear in mind that many of those retailer playing cards cost a better rate of interest than these of odd bank cards, Gobo mentioned.
He mentioned retailer playing cards, which may solely be used at that retailer — whether or not it’s in-store or on-line — could supply a zero % introductory annual proportion fee (APR) as an incentive to use, Gobo mentioned.
However be sure you learn the high quality print.
“Many shops promote zero % curiosity for a sure time period, however the deferred curiosity clause could comprise language that expenses curiosity on your entire quantity — even in the event you made some funds — if you don’t pay them off solely by the tip of the promotional interval,” Gobo mentioned. “Caveat emptor – purchaser beware!”
However it could make sense to open a retailer bank card if you’re a frequent buyer, particularly if they provide a “money again” in your spending, he mentioned.
So as soon as once more, learn the high quality print, and glad buying!
E-mail your inquiries to Ask@NJMoneyHelp.com.
Karin Value Mueller writes the Bamboozled column for NJ Advance Media and is the founding father of NJMoneyHelp.com. Observe NJMoneyHelp on Twitter @NJMoneyHelp. Discover NJMoneyHelp on Fb. Join NJMoneyHelp.com’s weekly e-newsletter.
[ad_2]
Source link
