Whats the difference between a Debenhams store card and a Debenhams credit card?

In the next month or two, I'm going to have to buy some stuff from there. The thing is, for what I'm buying, I'm going to have to pay it over time as I cannot afford it normally.

Would I need a store card or credit card for this? The only reason why I'm asking now is that I need to apply for one of these cards in advance!

The store card you can only use in debenhams, the credit card would be like a normal card I should think. If you go for the store card though don't open it in advance, wait until you have to spend a great big chunk in one go and then open one on that payment, as you usually get 20% off for doing that as an opening offer.

I think

Does a store card allow me to pay it over a certain length of time then? I don't actually wan a credit card. I just want to be able to pay off what I'm buying over a few months as paying for it in one big chunk would leave me skint.

[lucifer devil]

yes it does.

but you of course have to make the minimum repayments every month. if you don't, you'll face a late payment charge of £15. also only paying the minimum repayment means you'll be paying longer in the long run.

i'd avoid a store card, to be honest. GE money are meanies.

like someone else said, you do get 20% off your first purchase (and then i had 10% off for the rest of that week) but then their credit card (which i've never heard of) might have lower interest rates.

btw, it's all very well and good saying 'i'll pay it off later'; but when it comes to it chances are you'll have other things to spend your money on. i got a debenhams store card just before christmas '04 with the intention of paying it off after but i've still got £200 on there; which is about what i started with!

[Kermit]

A store card is a credit card, but you can only use it in the store. A credit card can be used anywhere that accepts it.

You will pay interest at quite a high rate on either. Store cards are not a good idea, unless you desperately need the item and do not get carried away running up a huge balance.

Yes. The store cards usually have horrendous interest rates though, so using a credit card might actually be better. Debenhams card interest rate is 18.9%.

I could get a credit card with my current bank but arrrggghhh, I don't know if I could trust myself with a credit card.

[lucifer devil]

Originally Posted by *Stacey*

I could get a credit card with my current bank but arrrggghhh, I don't know if I could trust myself with a credit card.

so why would you trust yourself with a debenhams card?

Because I rarely shop in Debenhams. Everything is expensive in there. I wouldn't go mad buying stuff in there as I'm quite careful with my money. I'm buying a ball dress for May and I want to buy one out of there.

[Kermit]

If you chop the card up after the first purchase- and ensure you do it- then a store card might be alright.

But a store card is a credit card. Don't ever forget that.

[katralla]

You could use a store card for the initial discount, pay off the balance in one go with a lower interest card and then cut both cards up imediately. Then set up a direct debit to pay off the second card, paying as much as you can afford to pay it off qucker and avoid extortionate interest rates- paying the mim=nimum is usually a complete bitch with half of your payment goin on interest and not even touching the balance.

[lucifer devil]

guess it also depends how much you're going to be spending and how much you can realistically afford to pay off each month.

[Click to see more]

A store card is a credit card that only works in one store. To all intents and purposes, they are the same thing.

If you're looking at only buying one item, and paying it off over time, consider having an extension to your overdraft. An arranged overdraft will almost certainly be a damn sight cheaper than a credit card - and a store card is normally around 10% higher APR than a credit card.

If you can't/won't do a bigger overdraft, and are only looking to finance the once purchase, then go for one of the credit cards that'll give you the first 3/6/9/12 months interest free. Regardless of the credit limit you are given, spend only what you originally planned to - and if you don't trust yourself, then either destroy the card after that purchase, or put it in a sandwich bag full of water, and bung it in the freezer.

Credit cards can be bloody awful things - but if used correctly, they can be superb. If you can afford to pay them off in full each month, then you have far greater protection on purchases than if you used cash or most debit cards. If you can't trust yourself with money, then be very, very careful with them - everyone cocks it up when they first get them, no matter how strong-willed you are.

[katralla]

and- you've got one or two months before you need to buy it (is it a bridesmaid outfit or something?) why don't you save like buggery rather than get into debt for it?