Another Credit Card?

Written on October 7th, 2009 by Hope

I got a new credit card today. These are not words that I would normally utter out loud. In fact, I would usually try to hide this fact from my husband. Then for the next few weeks, I’d be trying to intercept the mail so that I could get the card and the bill, before my husband saw it. However, in certain cases, I do believe that credit cards are beneficial, and today I thought this was a smart decision. I present my case. I went into the Gap looking for a pair of “long and lean” jeans. I had seen an ad for them and thought they looked good. Granted, I have over 20 pair of jeans…and I do not NEED any more jeans, but they are a weakness of mine…and nine times out of ten, I am wearing jeans. So, I found two pair that I wanted to buy. The first was a pair of skinny jeans…trendy, but adorable. The second were called “stiletto” jeans that are supposed to be longer so you can wear them with heels. They had perfectly placed pockets that kind of lifted my butt up a little, and made it look perky…and I mean who could resist that? So, I went to check out with my two pair of jeans at $69.50 each (which is really a bargain considering Hudson jeans are $200 a pair.) So, my total, with tax, was $148.73. The sales associate informed me that if I opened up a Gap card, I would save 15%…a savings of $22. Well, usually, I ignore this plea to get me to open up another credit card, but as she went on, it made good financial sense. Gap owns Gap, Gap Kids, Banana Republic, Old Navy and Piperlime. Granted, I don’t shop at Gap that much, but I definitely shop for my kids at Gap Kids and Old Navy several times a year. I also shop occasionally at Banana Republic and Piperlime has great shoes! So, in addition to my 15 % discount today, I was handed coupons for all of the above stores…AND if I shop there the first Tuesday of the month, I get an additional 10% off all purchases. AND, I earn 5% back in reward points, which means more coupons coming my way. AND if I spend $800 or more in one calendar year (easy) I get additonal shopping sale days and free shipping on all online purchases. Combine this with sales that these places run, and I am making out like a bandit. So, I go the card and bought my son two pair of corduroy pants that were on sale, plus an additional 15% off. Now, I just have to pay off the bill of roughly $175.00 when it comes in and all is good. I think there are several factors on why to decide if you should open up a line of credit. First if all, how many cards do you have? Any more than three, and I think you can start spreading yourself too thin by putting a little debt here, a little there…it starts to add up. (known from experience)  Second, you need to use it often enough to get your rewards, but not so much that you can’t pay off the bill each month. And lastly, if it helps to improve the placement and size of your butt….you gotta go for it!

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2 Comments to “Another Credit Card?”

  • Ben Frankland says:

    69.50 for jeans?? You can get them at Wal mart for 26.00$!!

  • Hope Daniel says:

    Actually, that is not true, especially in this market where credit is harder and harder to get. Having a couple of good standing credit cards is a good thing. It boosts your credit score and makes you more appealing to lenders.

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