I have a credit card from one of the big home improvement stores. When I bought my first home four years ago, I figured I needed a credit card from one of the big home improvement stores in case I needed emergency repairs or supplies for my home. Knowing then what I know now, I would have setup a special savings account for home repairs.
I bought several things over the first two years with the promotions the stores would run. Make any purchase over $299 and pay no interest for six months or twelve months. Of course, I would never pay the balance off before the promotion ended and would end up paying more interest than I saved over the course of the promotion.
When I decided I wanted to get out of debt, this was one of the cards I paid off first. I've had a zero balance on this card for over two years. I've used the card since I've paid if off but promptly paid the balance in full the next month.
Lately, the big home improvement store has been sending me 2-3 coupons a month advising I can save 10% since I am such a valued customer. This is nice but the only way they will let me save 10% is if I use my credit card and I can only save up to $200. If I am such a valuable customer, why don't they let me use whatever method I want to pay for my purchase?
And why can I only save up to $200? Where do these coupons end up? In the shredder along with my pre-approved credit card applications.
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