Tip 82: When to apply for a credit card to save money
Sometimes you can save money by applying for a credit card. We recently found a refrigerator that we
liked and had been looking at it for a few months. One weekend, it was on sale for $500 off and
we decided to buy it. I have plenty of
credit cards, but Lowe’s had an offer that sounded pretty good. If we applied for a Lowe’s credit card, we
could get 10% off our purchase and get 0% financing for 6 months. This was enough savings that I thought it was
worth applying for a new credit card.
With the sale price and discounts, we saved around $800 from the
original price. I also will get 5% off
every future purchase at Lowe’s using the new credit card.
I have also taken up offers to get credit cards that did not
pay off as well as the immediate benefit from my new Lowe’s card. One time I had loaded up on clearance winter
clothes at Sears in the early spring.
They were selling Dockers dress shirts for $5 each and other great bargains. I used my Sears Gold card to save an
additional 5% off and then applied for a new Sears Blue card to save even
more. I ended up getting clothes for 90%
off the original price!
Take advantage of offers to get new credit cards when you
can save money on something you are planning to buy anyway. If you pay off your credit card balance every
month, it won’t cost you anything and you can save some money.
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