Most people don’t realize that it can actually be quite easy to send customized birthday or greeting cards.Some Facts How is that possible?Some Facts Why go to the card store when you can get it all taken care of online? Because it’s quick and easy! It may be fun to shop for greeting cards and meet your friends for coffee, but if you are trying to a) save time, and b) be sure that people receive the cards you send, then I strongly suggest online card websites. Some Facts Let me explain why this is the case, and why you can send almost anyone a birthday or holiday greeting at the drop of a hat by using these sites.

When Is A Store Card Not A Store Card?

In the first place, the term ‘store card’ is misleading. It implies they are friendly. However, store cards are essentially credit cards. Purchases can be deferred using store cards, just like credit cards. Purchases with uncleared balances will incur interest. The process is similar to getting a credit card. People should avoid having a store card for each store they shop in, despite the temptation. Your credit history will be affected by each application for a store credit card. If a person applies for more than three cards within a seven-month period, they are likely to be declined. Their credit rating will be negatively affected.

Store Card Interest Rates

The interest-free period is one of the biggest differences between store cards and credit cards. Unlike credit cards, many store cards do not have interest-free periods of up to 56 days. Interest is charged from the moment the debt is put on the card. To make matters worse, most store cards charge very high interest rates. Due to high interest rates, British consumers are being overcharged by £100 million annually, according to the Competition Commission. A ‘wealth warning’ should be issued on store cards, according to the Commission. Credit cards are generally charged between 8% and 20% in interest. While store cards are usually charged around 30% in interest. When paying back a debt, this makes a huge difference.

Other Store Card Fees

Consumers are also charged high late payment fees with store cards. Furthermore, the payment protection insurance offered by many cards may be more expensive than that charged by regular credit cards. Store cards are not all covered by this type of insurance. In some retail outlets, you can get credit cards with rates similar to regular credit cards. The interest rates on store cards that are issued by a bank but branded by the retail outlet may also be competitive.

Getting The Best From Store Cards

Store card credit is easy to overpay for as long as interest rates are high and interest free periods are short. If you want to avoid this, read the fine print on the card to find out what the interest rate is. There should be a standard APR listed under the heading ‘typical APR’ Check whether there is an interest-free period Pay off the outstanding balance within one month Another option would be to use another credit card with a lower interest rate.