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Having worked for Debenhams, I am among the people who put their ethics and morals aside and pushed this card to customers for all its worth, with a lot of success. From a sale's adviser's point of view, it's fairly easy to sell: "Would you like to open an account and save 10% NOW and for a WHOLE WEEK!?" Not only that, but it's easy to open (providing you're dealing with a competent member of staff); there is a high acceptance rate from GE Capital, the bank that deals with the account; you save 10% or more throughout the year at various "mega days" and account evenings (but you may have noticed there is practically always a sale on at Debenhams anyway). Sounds good? Well, these are the bonuses, but how about the limitations? As with other credit cards, there is no annual charge, and the minimum payment I believe is 5% or £5. But with Debenhmans you have 30% interest to pay on any outstanding balances. Say you cannot afford to clear the balance one month, any savings you have made previously are wiped out straight away! So why bother? I would say stick to a normal credit card that gives you cashback or air miles or something. Better still, take advantage of the free Nectar card and save at Debenhams that way, by accumulating points.
I think as a member of staff there is alot more you could hvae inlcuded. I too work for Debenhams and have reviewed the card and just found that there was too much to say! If you edit this and would like it re-rated then leave me a note in my guesbook. Robyn
sue.51 10.05.2003 23:33
These type of cards are only any good if you are in a position to pay the balance off in full by the statement due date, for me the interest rate is enough to persuade me there is no other way to operate the account - I have had a Debenhams card for several years now and wouldn't be without it - it is invaluable, but with that 30% ringing a loud bell in my year, sufficient to ensure that I stay within limits I know I will be able to pay when the bill comes in.
averagepunter 09.05.2003 10:05
Used wisely, this card is well worth having. I can save up to 20% on three or four occasions a year. You raise a good point about the interest rate, but if you can't afford to pay it off, just transfer the balance to another credit card with a lower rate.