Comments on Our Debt Blog: Retail Store Credit Cards

Hi HS,
I was just wondering. You have a large ...

2009-02-20T11:53:00.000-06:00

Hi HS,
I was just wondering. You have a large amount in savings that can pay off all of your debt. Why haven't you done that? Just curious.
Sharon

Well, I guess I am a bit of the odd ball here. I ...

2009-02-19T18:32:00.000-06:00

Well, I guess I am a bit of the odd ball here. I do utilize credit as a tool, but I also pay it off every month or before interest (best buy) and do not spend more then I plan. So, I would probably hold on to Best Buy - oh yeah, I am! I like that 90 days same as cash - been buying laptops for the kids college and need one more this summer.

The thing here is - will you fix the problem

I hang onto my Home Depot card because they often ...

2009-02-19T15:47:00.000-06:00

I hang onto my Home Depot card because they often offer free delivery on appliances when the card is used. I just pay the card off right away. So maybe that's the excuse you need to hang onto your Best Buy card? Just don't carry a balance!

I guess I see it this way...How badly do you care ...

2009-02-19T10:17:00.000-06:00

I guess I see it this way...How badly do you care about your debt goals? Keeping these cards says "I'm only paying lip service".

Macy's and Best Buy are NOT needed to have around for emergencies. Having these does not help you get closer to your goals, in fact it hinders you because any spending on these will only take you farther from your debt goals unless it is in the budget already (

I'm in the process of going credit-free, and am no...

2009-02-19T10:07:00.000-06:00

I'm in the process of going credit-free, and am now saving for all of my major expenses. In order to save my credit score, I'm chopping up my cards, and closing them one every three months. (I'll keep the basic visa and mastercard open indefinetly to help my score though). All store cards will be gone though! OK, here's what I'm doing now. I set up Smartypig accounts.

You can check it

I would close them all. I know the Best Buy is ha...

2009-02-19T04:32:00.000-06:00

I would close them all. I know the Best Buy is hard for you but why? Obviously you like the store and their products. Budget your cash when you want something. Don't charge it. You've already stated that you end up buying more when you charge. Now is the perfect opportunity to change! Also, I think your dog is drooling for more plastic. :)

I would close them, but they say it does ding your...

2009-02-18T22:37:00.000-06:00

I would close them, but they say it does ding your report. I think that is completely unfair and another threat they like to hold over us. Cancel away!