Futureshop Credit Card. Good or Bad??
- Thread starter hitrack
- Start date
Like all department store cards , the interest rates are around 25% if you carry a balance. It's a trap and aren't worth it. If you are planning on making a big ticket purchase, use your M/C or Visa for the lower interest rate.
dexi said:
Me either. The only exception would be if the alternative was to use a line of credit or something along those lines and the interest over the year was going to be greater than the $25. One department credit card I do use is the Home Deposit card, whereby you can carry an interest free, payment free balance for a year. But if you're even one day late paying it off, you will pay dearly. So decipline is important.
All of Future Shops no payment no interest deals include a service charge which usually amounts to the same as if you had paid interest.
Good points all.
I'm just planning on buying the one item....a camera, and taking advantage of the no payments and no int. for 12mos.
Not gonna carry a balance, or use the card for misc. shit such as ink toner or DVD's, etc.....
But like most said if you miss the pay deadline you get dinged hard.
I just hate all those little hidden fee's.
I'm just planning on buying the one item....a camera, and taking advantage of the no payments and no int. for 12mos.
Not gonna carry a balance, or use the card for misc. shit such as ink toner or DVD's, etc.....
But like most said if you miss the pay deadline you get dinged hard.
I just hate all those little hidden fee's.
Fine print on no interest no payment plans
There are two kinds of no-payment no-interest promos: skip-free and after-the-fact free. Skip-free means after the promo ends the interest accrues normally. After-the-fact free means that if you don't pay the full balance at the end of the promo period, they retroactively charge you all the interest that's been accumulating on your purchase during the promo period. So if you don't plan on paying off the purchase in full by the end of the promo, make sure you read the fine print.
There are two kinds of no-payment no-interest promos: skip-free and after-the-fact free. Skip-free means after the promo ends the interest accrues normally. After-the-fact free means that if you don't pay the full balance at the end of the promo period, they retroactively charge you all the interest that's been accumulating on your purchase during the promo period. So if you don't plan on paying off the purchase in full by the end of the promo, make sure you read the fine print.
1 item only...
Hitrack,
My thoughts EXACTLY! The only time I would utilize a free interest thingy whereby a credit card is promoted would be for buying one EXPENSIVE ITEM. If not, it's much easier (for me anyways) ta dump it onto the ole trusty-air miles or dividend visa.
I used to use 2 credit cards for some weird reason I seemed to spend more. Having one bill per month allows me to be ready for one big wack between the eyes!
Hitrack,
My thoughts EXACTLY! The only time I would utilize a free interest thingy whereby a credit card is promoted would be for buying one EXPENSIVE ITEM. If not, it's much easier (for me anyways) ta dump it onto the ole trusty-air miles or dividend visa.
I used to use 2 credit cards for some weird reason I seemed to spend more. Having one bill per month allows me to be ready for one big wack between the eyes!
Exactly, and rather than carry the balance on the credit card, pay it off using you line of credit (assuming you do not pay it off with cash on hand) cuz the interest on a line of credit is even lower than a credit card.peety said:
Something wkse ya might wanna try hitrack...Most places like Future Shop etc take the contracts and sell them to HFC etc for a discount. Perhaps you can try to pay cash and negotiate the discount for yourself. Some people even try to do this by paying with cash instread of credit cards in small stores but that is actually against the agreement between the credit card companies and the retailer. I believe they can revoke the store's credit card privilege if caught. What I am suggesting is different though. You are trying to replace the discounted paper they are selling to HFC. Doesn't save you a lot but if you buy a big ticket item it can save you a few bucks.
and that goes for other stores too, like costco you pay membership to shop there. no thanks I can spend money at places that dont charge to shop.dexi said:
don't go there! i bought a big ticket item on the 'no interest, no pay for xx months' and paid it off in FULL and a whole TWO MONTHS EARLY and they still tried to ding me for interest (sent them a copy of the contract and the payment) but i still get TONS of junk mail from the company and phone calls about 'specials' and 'deals' and I'm willing to swap these asshats for someone's stalker ...
anyone?
please?
anyone?
please?
It all depends how you use it!
All credit is good, if you use it to your advantage, not theirs. It's how you play the game.
If you use any credit card as a crutch, then they've got you by the short and curlies!
I have one and the only time they charge you a service fee on a purchase, is if your "interest-free period" purchase exceeds six months (6 = $39.95, 12=$59.95, 24=$99.95). If you pay inside these periods, it amounts to very cheap credit. I bought a fridge at $1299 and the promo period was 3 months. No charges. Afterwards, if you don't plan to use it again, I think you should cancel it, as the Cardholder Agreement states they can apply service fees anytime they feel like it. Future Shop's credit program is run by Wells Fargo Finance.hitrack said:Was thinking about signing up for one of these as the store has some shit going on right now for no payments, or interest for 12 mos.
Other than $25 annual fee
All credit is good, if you use it to your advantage, not theirs. It's how you play the game.
If you use any credit card as a crutch, then they've got you by the short and curlies!
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Maury Beniowski said:
This ends up being the bottom line. I have a citibank credit card. The interest on a promo is 4.9% I accidently missed a payment and they were going to raise it to their normal rate of 17.9%. I told them if they did I would pay it off in full. They then told me that they would kept the promo rate still in effect, but if I missed one more payment they would raise it. This discussion took place yesterday. So low credit can be found if you look and you're responsible. I have another credit card where the fixed interest rate, is 6.99 MBNA. This isn't a promo rate, this is the actual rate of the card.
