Tip Tuesday: Department Store Credit Cards

Let's face it...everyone loves a good deal and the department stores know it. They entice you with special offers, percentage off sales and freebies if you use their store credit card. Stop right there! If you want all the perks without paying the interest fees, late fees or just can't control your spending these are tips that will definitely help you. Here are some ways to keep that balance down:

1. Use the store credit card to participate in a sale you want that is only eligible with the use of the card, but bring that amount in cash with you. You pay for your purchase with the card and get your sale, then use the cash you brought to pay that amount onto your store credit card.
2. Lower your balance limit by calling the customer service number located on your statements. A lot of times you are given an extremely large credit limit for a department store. No one needs $1,000 in credit for a clothing store. You can call and have it lowered to a reasonable amount that will keep your spending in check. You can even ask for $500 or even a $100 limit at some places. If they give you a hard time, you can explain that they can lower it or you can close it. Most companies will be happy to accomodate your request.
3. Remember, too many department store cards are a blemish on your credit report so be sure to only get them at places you can truly benefit from. This also applies to your major credit card companies. Less is more when your are building and/or maintaining your credit credibility. (;

I hope you found this week's Tip Tuesday helpful. Be on the lookout of some wonderful additions to come and be sure to 'like' my Facebook page for tips, deals and much more at the following link:

http://www.facebook.com/#!/pages/Mandys-Money-Saving-Tips-CouponsCraftsDIY-Projects/218811121497482