Is this morally wrong?

[Deja Q]

Buying a bunch of clothes from a clothes store.

Opening a credit card to get that 15% discount.

Paying it off immediately.

NEVER using the card again (or RARELY, for one item, paying it promptly.)

[wildhorses]

1. meh---not so much

sounds like good money management to me

:hi:

[WindRavenX]

2. I don't think so

It's how my SO and I are going to get a sweet HD TV...

[YellowRubberDuckie]

3. Nope.

I'm currently not using my lane bryant card. :shrug:
Duckie

[The Velveteen Ocelot]

4. No, but be careful...

Every time you apply for a credit card your credit rating takes a hit (I learned this from a loan officer at my credit union). The credit bureaus assume you are looking for and need quick credit, and they take points off your credit rating -- just for applying for, not even necessarily using, the card. So that one-time 15% discount might not be worth it.

[Deja Q]

10. Thx for the info.

I definitely won't keep doing the same thing for other stores. :7

[uppityperson]

5. Not wrong. They know a certain amount of us will do this.

[bigwillq]

6. Not at all

:)

[Shell Beau]

7. They pretty much hassle you to get the card so I don't think so!

[Generic Brad]

8. Is a 20-30% interest rate morally wrong?

I think so. Take the discount and don't feel bad. The credit card companies are screwing us way more than we will ever screw them. If it were not profitable for them in the long run, they would not be making such an offer.

[femmocrat]

9. Hell no! I do it all the time.

Plus, as long as you keep the account open, they will send you good coupons in the mail to get you back in the store.

[SPKrazy]

11. How would it be morally wrong?

they aren't losing any money

you are getting a deal

and I just don't see anything wrong.

to buy a bunch of clothes and not pay them off in time and have huge interest amounts to pay off is more of a morally questionable behavior from a strictly moralistic viewpoint.

:shrug:

[Left Is Write]

12. Of course it's not morally wrong.

I'd be careful, though, about opening up too many accounts. It's not good for one's credit rating, and then, once it's open - CLOSING it isn't good for the credit rating either.

You'd be better off skipping the discount and paying with cash, debit, or an existing major credit card.

[darmok167]

13. No.

any more questions? :)

[Kali]

14. be careful

not morally wrong but credit cards are like playing with fire...didn't you just get out of debt?

[Pale Blue Dot]

15. How do you live with yourself?

In the morning, when you look in the mirror, do you think "there's the guy that cheated a faceless, money-hungry corporation out of 15%"?

[Deep13]

16. You worry too much.

[AllegroRondo]

17. sounds like an excellent way to use the system to your advantage

nothing wrong with that. they made the rules, you use them to your advantage.

[av8rdave]

18. Nothing wrong with that at all!

Be sure to cancel the card though (cancel, not just deactivate). Too many accounts (even dormant ones) can hurt your credit rating.

[YankeyMCC]

19. Nope

As long as you're following the rules they set up I see no problem

[Burma Jones]

20. Of Course Not

at least from your end......

[La Lioness Priyanka]

21. NO, its sensible

[crim son]

22. No. What's morally wrong is the way the credit organization

is eager to screw you any way they can. You will be using the card like an intelligent person.

[MissMillie]

23. nothing at all wrong w/ that

just beware that they aren't charging you an annual fee.... that 15% discount may not be worth it.

[SacredCow]

24. No....

Just like it isn't wrong to transfer your balances to a new credit card to get the "no interest for a near" then never use the new card. The credit banks' CEO's and CFO's aren't going hungry at night- I promise!

[slj0101]

25. No, it's smart shopping.

Better than to be subjected to the usury of the credit card company.

[El Fuego]

26. Not at all. They made that offer to everybody, with some it will pay off.

It's just bid-ness.