The credit card offers are endless when you're out shopping. Every store wants you to have their card, but are you really saving money? Here are a few pros and cons of opening a card with a department or retail store.

PRO: Sign Up Discount

This is how they hook you... right?  20% off... 30% off... 50% off... free socks.

It's easy to fall into the instant gratification of the money you would save on your first purchase, but be sure to weigh in all the factors when signing up for any credit card offer.

CON: High Interest

Always check the interest before opening any credit card account. Despite the recent decrease in rates, a survey by found that the average APR on store specific credit cards rose to 27.52%.  

For more info on retail store trends from, click here.

PRO: Birthday Discounts, Holiday Discounts, Rewards and the Kitchen Sink

One benefit of a store credit card is additional discounts throughout the year, but how much are you benefiting from these savings? 

The average shopper tends to pay their balances off over time. Carrying a balance means that you're paying interest monthly. When looking at the savings and discounts you earn from having a department store credit card, don't forget to add in the interest that you pay monthly into the equation.

If your interest is higher than what you earn with your coupons, you're only whittling away at the savings that you're potentially earning from having that credit card.

CON: How it Affects your Credit Score

An important factor in the calculation of your credit score is your credit card utilization. Credit card utilization is the amount you have borrowed compared to your credit limits. A healthy credit card utilization percentage is 30% of your total credit limit. 

Many store cards start you off with a low credit limit, which causes your utilization percentage on that card to go up quickly. If you have a retail credit card with a $500 balance and buy a new television for $300, you've already used 60% of your utilization on that credit card. Click here for more info on credit card utilization. 


With rates starting at 10.25% APR, you'll save money on all your purchases, without a fancy discount. For a limited time, transfer your non-Beacon credit card balances to a Beacon credit card and you'll get 0% APR* on the first 12 months.

Click here for more Info


*Restrictions apply. Click the link above for additional info.

Looking for inspiration to start pursuing your small business dreams? Let the "Force" be your guide...

Can you name the characters who said these out of this world quotes? Bonus question, which Star Wars film are each of them from?

"No! Try not. Do, or do not. There is no try."
"Easy is the path to wisdom for those only not blinded by themselves."
"Hope is like the sun. If you only believe in it when you see it, you'll never make it through the night."
"It's better to die in pursuit of your dreams than to live a life without hope."
"Always remember, your focus determines your reality"
"Never tell me the odds."
"The longing you seek is not behind you. It is in front of you."
"Questions are more true than answers; this is the beginning of wisdom."
"The greatest teacher is failure."
And last but certainly not least "May the Force be with you."

Time is important and today, it seems less available than ever. Waiting a week for a Debit or Credit Card to arrive in the mail can really hold up things that are important to you.

That's why Beacon will print your new Debit or Credit Card in any of our convenient branch locations* on the spot.

No waiting a week for the mail...
No worrying if your card got lost...
No cancelled Netflix because you didn't update your card number in time... 

Whether you're replacing an expired or lost card or opening a new account, you'll have your Debit or Credit Card in hand and ready to use when you walk out the door. It's that easy and that convenient.

Visit a Beacon Branch Today!

*Not available at our Goodyear location. New account issuance subject to approval.

For a limited time, open a new Choice Plus Checking account with Beacon and we'll give you $250!

Other benefits of the Choice Plus Checking are...

  • 5.05% APY (click here to see guidelines)
  • Free Online and Mobile Banking
  • Free Checks
  • Free Beacon BillPay
  • Free Direct Deposit
  • Free E-Statements
  • No Monthly Service Fee

With all those perks, why wouldn't you move your Checking Account to Beacon?

Click here to open your account online.

Or visit one of our convenient branch locations.

** To be eligible for the bonus, you must open a primary Choice Plus Checking account. Minimum balance to open a Choice Plus Checking account is $100. You must have a direct deposit of $2,500 per month for three (3) consecutive months and maintain an average daily balance of $300.00 in order to earn the bonus. You must sign up for Beacon Billpay, E-statements and conduct a minimum of 15 debit card transactions for 3 consecutive months to earn the bonus. Limit one bonus per household. Accountholders must not have opened a checking account with Beacon Credit Union within the past 12 months. Promotional reward will be paid to eligible accountholders at the end of the month in which all qualifications are met. Offer available for a limited time. Beacon Checking Accounts are subject to credit qualification. Beacon has the right to end or modify any promotion at any time. Bonuses are considered interest and will be reported on IRS Form 1099-INT (or Form 1042-S, if applicable).

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