Thursday, June 26, 2008

JCPenney Credit Card Review

I must be on some sort of department store kick or something because this is the third post in a row about a retail store credit card. Anyways the JCPenney's credit card isn't as bad as the Sears or Wal-Mart, but that doesn't really make it that good either.

Let me put it this way:

The Good: Receive special discounts and coupons to JCPenney sales and promotions when you use your credit card.

The Bad: No rewards program.

The Ugly: The interest rate is over 20.00%. Any credit card with an annual percentage rate over 18% seems too high to me.

If you really like shopping at JCPenney and want to take advantage of the exclusive coupons and discounts then you might want to consider getting this credit card. If you do get this card though you should not carry a balance. Make sure you only buy as much you can pay off so you don't get caught with the really high interest rate.

More information in my full review at JCPenney Credit Card

Monday, June 23, 2008

Sears Credit Card Review

I finished writing a review on the Sears credit card. It is a pretty standard department store credit card with an initial discount on your purchase the day you apply and during the year they mail you coupons and announcements of sales.

Like most department store credit cards the Sears card has a pretty high interest rate. I would recommend this card only if you are a frequent shopper and you pay off the balance in full every month to avoid the high interest rate.

Wednesday, June 11, 2008

Wal-Mart Credit Card Review

I was searching the Internet looking for a new credit card to review or some topic to write about, and I came across the WalMart credit card. I take a look at the application form and the terms and agreement.

First off I notice that this card doesn't have an kind of rewards program. It does offer $0.03 off
per gallon of gas at participating Wal-Mart gas stations. But that perk is pretty laughable. Let's use an example to show how poor that rebate is. Currently gas is around $4.00 per gallon. If you buy 5 gallons of gas that is $0.15 off if you use your Wal-Mart card. Now if you use a credit card with 1% off all purchases you would save $0.20 in this example.

Another reason you should avoid this card is its interest rate. Depending on your credit history you will be offered an interest rate of 21.62%, 17.62%, or 11.62%. All of these are pretty high in my opinion.

If you are looking for a credit card with a cash back reward.

Wednesday, June 4, 2008

Green Dot Credit Card

The Green Dot Credit Card is a pretty good prepaid credit card. A prepaid credit card is one that you deposit money into your account and you can spend that money by using your card. You can also withdraw your money anytime at an ATM.

What makes the Green Dot card so good is it doesn't have many fees. Most prepaid cards have a lot of fees but Green Dot doesn't have as many and they aren't as expensive. If you can get a regular credit card I would recommend that, but if you have to use a prepaid card I recommend getting the Green Dot over other ones.