Temptation: would you get a credit card justto get the juicy discount?

[Radiance]

I havent used my credit cards (I have 2) in over a year
I want to make a purchase in Amazon and they offer $40 off if I get their visa card...
hmmmm, would you do it?

[KaleighMaeA]

Negative. First off all it hits your credit report as an inquiry, and second of all it makes the average life of your accounts go down... and significantly since you only have two others which will negatively impact your credit score (even more so than the first thing)

[GREENBACK]

As long as their are no little sneaky hidden fees there somewhere I would. I don't know if you have any credit score concerns(could ding you a little depending on your situation)but otherwise, it's 40 bucks for free.

[Radiance]

Well, im ambivalent, my credit score is a mute point since I dont use credit
But they are exceptions like now that I am renting a new place, they ran my credit, and I do want to buy a house in 5 years.
now I dotn want the hassle of managing the card. as much as I dont use my visa or amex, I do monitore the account monthly

[MonkeyMama]

Yes, I would do it.

If your score is consistently high, these things don't amount to a hill of beans as far as your credit.

If you are working on raising your credit score, or can't control yourself with a credit card, don't do it.

That's the simple answer.

[Joan.of.the.Arch]

Yep, I'd do it. I did get an Amazon card when I wanted to buy something and they offered $30 if I took out a card. Sounds like the deal you are looking at is better.

[KiwiJo09]

I'm always thinking about getting the Amazon card. You can get cash rewards on it and everyone I've spoken to who has it loves it.

[disneysteve]

If I did this every time there was an appealing offer, I'd have a drawer full of store credit cards. Yes, you can save a few bucks with a new card but it means having one more card. Yes, you could turn around and close the account as soon as you pay for that purchase, but that's a pain in my book. When I was younger and $20 or $30 or $40 seemed like a more significant amount, I'd play those games, and I did. Now, though, the hassle factor would prevent me from doing that.

[marvholly]

I have done this exactly twice in >30 years.

2003-Kohl's to get a 10% discount on that day's purchase. long term benefit is the monthly discount coupons mailed to me.

6 (?) months ago got the Target card. I buy very little there as they are not real convient. However, 5% is 5% on all but Rx. Did use to get my Dad some sweat pants. Currently paying for my stuff w/gift cards from an Rx and the freezer stock up deal.

[MonkeyMama]

I think we average a new credit card once every 4 months for some reward or other. WE just call and close the cards when we are done - takes a couple of minutes. (I don't like spending a lot of time to save a few bucks - but this is EASY money).

We've often saved $100 here and there doing this.

I actually got $250 in rewards for opening an American Express card for one month last year.

Every time we buy an appliance at Sears we open a card for the discount. Is once every 5 years or so - so we just re-apply every time.

[khosta]

I would do it! And then if you don't want the card just cancel... I had a roommate in college that did this. She would apply for the card for the discount or deal and then cancel the next day. I have no idea if this effects your crdit score or what it does - but she still has great credit!

[littleroc02us]

Back when I was young and dumb I would have, but now when I'm a bit more educated in finances, Never!

[JanelleMom]

I agree with those who say do it and then cancel, as long as your credit can take it.

[littleroc02us]

No one that is wealthy would say that got rich off of rewards.

[disneysteve]

No one that is wealthy would say that got rich off of rewards.

Thank you, Dave Ramsey.

Yes, you won't get rich this way, but you won't get rich clipping coupons either and I don't see anyone saying that isn't worth doing. If it is worth clipping a coupon to save 50 cents, why isn't it worth taking a credit card to save $50?

I'm sure there are situations where I would consider doing the store card for the discount. I just have a higher threshold than I used to. I wouldn't do it to save $3 on a $30 pair of pants but I might do it to save $100 on a $1,000 TV. I would open the card, make the charge and pay it off in full the very first month, then close the card.

I see nothing wrong with beating the credit card companies at their own game.