Not only are you being bombarded with credit card offers in your mail and through email from major credit card issuers, but stores are also offering their credit cards. This is done for two reasons, where the primary reason is that they want to make a sale and if you do not have the money they are willing to extend credit so you can walk out of the store with the item you wanted. That also means they can make money on the interest if you are not able to pay in full. What you will notice about a store credit card is that the interest rates are much higher than other types of credit cards. The second reason for a retail store to offer a credit card is because you - the consumer - is more likely to come back if they have the card in the wallet and know they have a credit line there.

Keep in mind that the unique thing about a store credit card is it can only be used in that specific store. It is not possible to get a cash advance or use it in a competing store or at a restaurant. The effect on your credit history is somewhat diminshed because it is so easy to get a store credit card, but therefore it is also a great way to establish a credit history, as that is probably the only way outside of getting a secured credit card og student credit card. As mentioned above the interest rates are high, because so many people end up not being able to pay their balance. They buy too much in the store, but when it comes time to pay the bill, there is simply not any money left in the budget.

Paying interest is something you can avoid completely, as long as you pay your balance in full at the due date listed on the statement. Not only do you not pay interest, you have actually received an interest free loan for up to 55 days. This time is calculated based on a statement cycle of 30 days and add to that a 25 grace period to pay the statement balance. Consumers that are able to control their spending and will not spend more money, because they have a retail store credit card will enjoy the benefits of these credit cards.

Stores like Kohl's and Bealls, and several other stores are known to issue coupons only valid for people with these credit cards and that is a great incentive to sign up for these cards. You can walk into any Kohl's and I bet that 30% of the shoppers have their credit card, while the other 70% are paying more for the same product. It may not be fait, but the marketing trick behind this type of incentive is exceptional.

The first step in taking the card issuers up on their offers and avoiding getting to many cards from the same issuer as described in my previous post, is to make a detailed plan for credit card application spree. Many factors have to be involved in this process, and serious thoughts have to be considered, or you may end up damaging your credit history rather than improving it.

You have to know the limitations of your current history. The lower your score is at the moment, the longer it is going to take before you can start applying for the best cards. There is no point applying for multiple cards where approvals are given with a score around 650. That only means your credit limite will be low and the average age of your credit history is going to suffer dramatically. Both is not very good for your credit score and not good for future approvals. Remember if a card issuer notice that other issuers will only give you a $500 credit, then it is much more likely that the following card issuers are going to follow suit rather than give you a higher credit limit.

Get one or a maximum of two cards when you credit score is below 700, and once it reaches above 700, you can consider applying for additional cards. If you have the income to back it up, there could be some large credit lines waiting for you and you also get to apply for the best credit card rewards program. All the good stuff happens when your credit score is above 700 and your credit history contains revolving credit for a couple of years.

Some people are out to get as many credit cards as they possible can. This can be for a variety of reasons, but if you are just looking to build some credit this is not one of them. Just a few credit cards are needed to build your credit and from that point on they need to age on your credit report, meaning if you have had credit cards on average for several years it is considered positive.

The primary reason to get multiple cards is for the sign up bonuses and also the ongoing rewards. After your first purchase often times enough miles will be credited your frequent flyer account, so that you can book a free domestic round trip flight. Cashable sign up bonuses are usually worth less, however they may still exceed $100 in some instances. Also there is not one credit card rewards program that fits all type of purchases. For groceries you need one card, there is a gas credit card that only gives 5% cash back on gas purchases. The Target credit card only gives Target card holders an extra discount at every checkout. Kohl's often give large discounts to Kohl's card holders and it is almost a must to have that credit card if you want to get something for a reasonable price at Kohl's. There is really no stopping your credit card application spree. You could have 50 credit cards in your wallet and there is still some purchases where it would be beneficial to have another card.

You have to be smart about the cards you are applying for. While there are hundreds of credit cards there are much fewer card issuers, which means that some issuers are responsible for upwards of 100 accounts. No issuer want to give one consumer that many cards, with the associated credit risk that would entail, so when you reach 3-4 per issuer you are probably near the max and any subsequent applications are at the risk of being denied. If you end up finding a better card, there is of course the possibility of closing an older account that you are not using, This procedure would pave the way for another approved application.

The Priceline Rewards Visa Credit Card is one of the better options for any one looking for a great rewards credit card. The name may imply that you need to be a user of Priceline, but that could not be further from the truth. In fact you can earn 2% on every purchase and never have to visit the Priceline website. Earning 2% cash back on everyday purchases is an excellent credit card offer, so really no reason to use Priceline despite having their credit card. Priceline purchases does not even give extra rewards unless you use the Name your own price feature, where you get 5 points for every dollar spent.

Redeeming for rewards can also be a more beneficial when using Name your own price. Instead of redeeming for statement credit at a 2% rate, you can redeem it as a Name your own price, where you get 1.1% of the points value up to $199.99 spent. It goes up by 0.1% for every $200 until you reach 1.5% of the points value. That means you can actually turn the 2% cash back credit card into a 3% cash back credit card, because the points are worth up to 50% more when used for Name your own price.

There is no annual feee, so this is hands down one of the best credit cards out there right now. There is even a sign up bonus of 5,000 points after your first purchase, which is worth $50 as a statement credit.