Debenhams Card - pls advise, thanks.

Gordon_Hose

Store cards and credit cards are two different things.

EarthBoy

Gordon_Hose wrote: »

Store cards and credit cards are two different things.

The only difference is where you can use them. A store card can normally only be used in one store, -or a chain of stores in the same group. E.g. you can use the Burtons Card in Top Shop or Dorothy Perkins etc because they are all part of the Arcadia group. Normal credit cards can be used anywhere that will accept them.

A rottweiler is called a different name to a labrador, but at the end of the day they are both dogs.

Any

Seriously right - You have credit line and it is recorded on your credit report.

Doesn't matter what you call it, it's a line of credit and the effect is EXACTLY THE SAME!!!!!! You have or are able to have debt and it is recorded somewhere.

So advise such as "don't worry, it's not credit card, it's store card" is the most misleading comment that has probably ever been posted on here.

The only difference between the two is that you are limited to make the debt at certain stores only. You are still binded by credit agreement.

Any

EarthBoy wrote: »

A rottweiler is called a different name to a labrador, but at the end of the day they are both dogs.

I think that is the best way to explain it:D

izools

Gordon_Hose wrote: »

Store cards and credit cards are two different things.

The colloquial definition of a Credit Card is what we think of most often - the likes of Visa, Mastercard, and Amex.

The literal definition of a Credit Card is a Card that can be used to pay for goods and services utilising a line of credit to defer payment.

Ergo, colloquialisms aside, one could correctly define a Store Card as a Credit Card bit IMHO it's probably best not to as we are so familiar with the non-literal definition.

Any

However, having a ... let's call it just card with credit line.. is not the end of the world.
As long as you now what you are doing and don't spend money you don't have.
Get your statement and pay off in full.

Many of these cards have special rewards such as collecting points which can be converted to money off or discounts or products.

And on the top of it you are building yourself good credit report which will help one day when you will decide to get a mortgage or loan.

BugsyBrowne

Matryoshka wrote: »

I went into Debenhams today intending to buy make-up. The lady asked if I had a Debenhams card. I said No as I don't shop there often. She said it was quite good and I would get 10% off my purchase today. I said I did NOT want a credit card (I do not have any credit cards as I'd rather have the cash to pay than borrow) but she insisted it WAS NOT a credit card. She said it was a store card so I thought OK, a bit like the Nectar or Tesco clubcard so I signed up.

When I went to pay, about £50, she did not ask for my debit card or cash. She simply swiped the temporary card I was given (the real one should arrive in 7 days). I was also given a free gift of a bath towel.

So, since I did not 'pay' it means it is a credit card, innit? The paper I was given with it, which I signed, says things like APR: 24.9%; Cash rate: 26.478%; total charge for credit: £188.52

I really don't want a credit card but before I jump in guns blazing, do the above figures mean it's good? Does it mean I will get a bill and have to pay £188.52 instead of the £50 purchase? :eek:

A store did the same to my husband recently. He came home with a paper and said it was a storecard. We rang them up to cancel straightaway when I saw he'd signed up to a credit card. Is this a new sneaky way of doing things?

Will I have to return the stupid free gift (it is a nice towel )

Please advise. Thank you.

Did you and your husband drop out of school early by any chance.

KingElvis

Going back on topic to the thread, you pick up a Nectar card from the checkout and how you can get that muddled with a store card application simply freaks my chicken.

When they didn't ask you for cash or your debit card to pay for your goods and services, did you not think that strange?

Good luck with it but make sure you don't end up paying those huge interest charges.

Matryoshka

Thanks EVERYBODY for your valued input.

I will pay it off then destroy it. I want a storecard wherein I pay with cash or debit card then get points not one I have to wait for a statement

Matryoshka

star-fire wrote: »

Did you and your husband drop out of school early by any chance.

My initial query has been answered so I won't be visiting this thread any longer. Thanks once again nice guys :T