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I got a Dicks' Store Credit Card
Do as I say, not as I do
Wuhoo Group
June 05, 2024
I went to Dick’s Sporting Goods during Memorial Day Weekend to get their credit card (for the memes). I didn’t get it, and was told to call a number to verify my information. Well, I did that this week and you can watch the video below to see if I actually got he card.
But read more below to see why it was a bad idea.
This is why store credit cards are a bad idea:
1a. The points are not useful. At best they can be used for cash back, at worse it's just store merchandise for that specific brand.
1b. Most of the time the card earns 1x back on all purchases and only a slight bump for branded purchases. You can do a lot better with a 2-3x cashback or points card.
2. It takes up space in your wallet. I don't mean your physical wallet. Card issuers like Chase only allows you to have five personal credit cards over 2 years, so getting a store card blocks you out of getting even better cards.
3. Not that you should be paying interest at all, but store credit cards have terrible interest rates. So if you mess up a payment there, it will cost you a lot more.
4. Sunk cost fallacy. If you do have a store credit card, you're more likely to fall into the mental trap to get value out of that card. You may go to that store more often because you get "decent" cash back from those purchases even though it may not be the best place to go. (Yes, Dave Ramsey's philosophy is like this with all credit cards, but store cards bring out the brand aspect even more.)
Delta Platinum - Niche | The perks are somewhat annoying to use to recoup the annual fee, but it could be helpful in gaining status and flying perks.
Delta Reserve - Niche | If you utilize all the perks then it’s a pretty helpful card. But DON’T get the card just because it’s made out of metal
Delta Blue - Useless | Doesn’t come with any of the perks from the previous cards. It should only be in your wallet if you’ve downgraded it from the cards with annual fees.
United Club Infinite - Niche | Helpful for United lounge access if you fly them a lot.
United Quest - Niche | Could be worth it if you’re able to use all the perks, but don’t need lounge access.
Our lineup for this week is below. See our rationale here just for newsletter subscribers like you.
Matthew: World of Hyatt | American Express Gold
Sarah: American Express Blue Business | Chase United Quest | American Express Gold | Capital One Venture X
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About WuhooPoints
WuhooPoints focuses on the credit card consultation side of Wuhoo Group. Here we help with both the accrual of points and perks and the use of points for free travel.
About Wuhoo Group
Wuhoo Group was founded in 2022 to accent people’s lives with bespoke events and free luxury travel. We are based out of Northern Virginia and are always down to help brainstorm and develop fun ideas into plans.