The credit card industry has always been a huge revenue generating industry. With America being driven by a debt-based economy, it is imperative that Americans be made confident enough for them to spend money. There are two sides to the use of credit cards. There are the convenience and organizational side of things in which people use the card in place of cash and to keep track of expenditures while paying off the balance before it accrues interest. This is a smart approach to using credit cards.
Then there is the dark side where people use credit cards to buy things that they would not be able to afford. To use credit to purchase a home or car is understandable, but to purchase things that are not necessary can land consumers in debt. Where big companies like Visa, Mastercard, American Express have ruled for years, the retail industry has thrown their hat into the ring and they are going all out to get consumers to apply for their credit cards. Forever 21 ha joined the ranks. If you are wondering if getting a Forever 21 credit card is right for you, here are 10 benefits associated with the card.
1. Basic Award Program
Almost every credit card that is issued today has some type of awards program attached to it. Most award programs are designed to reward the cardholder for spending money on qualified purchases. The Forever 21 card offers discounts and cash back on qualified purchases year round. The card also offers certain special discounts for special occasions, as we will see later.
2. No Annual Fee
When you talk to people who use credit cards to meet their shopping needs, one of the primary complaints is the annual fee that you always seem to forget about until it hits your account. Fortunately, the Forever 21 card does not charge an annual fee to own and use their card. While it seems like a small thing, it matters more than you think.
3. No Additional Cardholder Fees
What I like about this card is that there are no additional hidden fees that tend to pop up on credit card bills. When you apply for the card, you will get a contract that lists everything that has a fee attached to it, and there will be no additional fees that you will have to worry about in addition to what is listed on the contract.
4. Introductory Discount
Because the retail credit card industry is so competitive, banks are always offering incentives to lure in potential cardholders. The introductory discount offered by Forever 21 gives the cardholder 15 percent off of their initial purchase and up to 20 percent off of futures purchase as a part of the cardholders welcome kit.
5. Triple Award Points
It is hard to find cards that will even give you double rewards points on a regular basis, but the Forever 21 credit card offers triple rewards points for every dollar spent at the store. Every 300 points accumulated can be redeemed as a $5 discount or credit. If you shop at Forever 21 on a regular basis, this rewards nugget can be very beneficial to you.
6. Double Points Events
In addition to the regular points earned on qualified purchases, cardholders will also get to enjoy double points events in which everything purchased during the event will earn a double point. Generally, the cardholder will be notified of the event ahead of time so that they can put it on their calendar. It is events like this in which cardholders are rewarded for their loyalty.
7. Birthday Discount
The Birthday Discount is something that is becoming common among retail credit card issuers. While the discount offered at Forever 21 is not as large as some of the other retailers, it is still something that you would not get otherwise. Currently, the Birthday Discount is $5. While some retailers give you a period in which to redeem your Birthday Discount, you have to make your purchase on your birthday for it to qualify.
8. Anniversary Discount
I will have to say that Forever 21 is really reaching for ways to extend discounts that promote in-store and online purchases. They are now offering an anniversary discount, meaning that you will receive a discount to celebrate the day that you received your credit account with the store. The anniversary discount also rewards customer loyalty with a discount of up to 21 percent on qualified purchases.
9. Exclusive Offers and Promotions
While the specific offers and promotions are not mentioned in writing, there will be periodic offers that will be exclusive to cardholder throughout the year. The cardholder will receive notification via email, text message, or mailer informing them of the exclusive offer and how they can take advantage of it.
10. Shopping Convenience
Hardly anyone carries enough cash on them to shop anywhere, much less Forever 21. Additionally, the use of traditional checkbooks is almost completely a thing of the past. With the Forever 21 credit card, you can make purchases at discounted prices and pay off the balance before the interest is applied — taking complete advantage of being a cardholder, without suffering the penalty of long-term debt.
Written by Garrett Parker
Read more posts by Garrett Parker