Is it hard to be approved for the Cartier Red Card?

Feb 2, 2007
50
0
Seattle
Hey all,

I am obsessing over the Cartier Love YG open cuff. I went in to look at and they said if you open a Cartier Red Card there won't be any interest for 12 months. I didn't try to open one because I was scared I'd get rejected. Are they hard to get approved? I am in my early 20s and I never attempted to open a store charge so I have no idea if it is hard to get one Especially since this is an expensive high end jewelry store...

Any Thoughts?
 

Jayne1

Working Canvas
O.G.
Aug 2, 2006
29,560
13,105
Toronto
What's the pint of a Red Card? I'd rather have a card that gives me points or a rebate or something. I wonder if these red cards are even available in Canada, sounds like a US thing to me. :shrugs:
 

schadenfreude

really
O.G.
Nov 13, 2007
3,636
98
45
^ No interest for 3 months to a year, as someone else already pointed out. You've GOT to pay it off before that time period, though, because the interest is something obscene like 29%!!!
 

Mimster

Member
Jul 20, 2009
3,445
7
Be careful and read the FINE print. Most of these "no interest for the first X months" store cards have some sort of service fee.

We signed up for one to take advantage of the 10% off plus the interest-free period and when we got our first statement there was a service charge. The SA did not tell us this when we signed up. Our fault for not reading the contract.

Besides if you pay off your balance every month, what's the point of the interest-free period?
 

Phillyfan

O.G.
Nov 25, 2007
6,406
299
Because if it is a large balance, many of us can't pay it off in 30 days. It is nice to have 12 months of equal payments with no interest. Many stores offer this special financing plan especially in this economy. But you must pay in 12 months or you will get hit severely with accumulated interest.
 

daluu

Member
Oct 20, 2007
1,663
2
Be careful and read the FINE print. Most of these "no interest for the first X months" store cards have some sort of service fee.

We signed up for one to take advantage of the 10% off plus the interest-free period and when we got our first statement there was a service charge. The SA did not tell us this when we signed up. Our fault for not reading the contract.

Besides if you pay off your balance every month, what's the point of the interest-free period?
i prefer paying things over time without interest cuz it frees my money up for other things especially if unexpected events pop up. of course, that's only because i ALREADY have money in the bank to pay it off all at once if i had wanted to.
 

Mimster

Member
Jul 20, 2009
3,445
7
i prefer paying things over time without interest cuz it frees my money up for other things especially if unexpected events pop up. of course, that's only because i ALREADY have money in the bank to pay it off all at once if i had wanted to.

There's nothing wrong with taking advantage of the perks offered by stores/companies (free gift, interest-free period, discount, etc) when signing up for their cards, if you have the money to be able to pay it off anytime.


As pp mentioned, just be careful you have the moneyt o pay it off by the end of the period as the interest charge is very high. I know too many friends who fell into this marketing ploy and ended up with a very high balance that they were unable to pay without being charged the high interest.
 

Lola24

O.G.
Jul 11, 2006
4,825
447
i prefer paying things over time without interest cuz it frees my money up for other things especially if unexpected events pop up. of course, that's only because i ALREADY have money in the bank to pay it off all at once if i had wanted to.
Yep, I never buy anything I don't have the money for at the moment, but I DO tank advantage of 0% interest at times. Keep my money in the bank collecting interest and pay toward the large item every month in at least an amount that I would normally let myself spend on something else. I don't need to make a huge purchase without letting myself feel the consequences so to say, I rather not let myself just spend more money on other stuff but rather realize that I made a large purchase and my disposable income has to first go to that rather than other stuff that I probably don't need, lol, just my little system to make me appreciate my special purchases more.... and keep my savings accounts in tact!
 
Feb 2, 2007
50
0
Seattle
Yes I am going to save for atleast half of the item before I take advantage of the no interest offer that way I won't have to feel the pressure as much and I can pay the half when I get the 1st statement. It will leave me 11 months to pay off 1,650 and thats nothing...I need to take into consideration that I am probablly going to want or need to buy other things in that 12 months so I would never go into this with an empty bank acct.
 

Pazdzernika

Member
Mar 26, 2011
2,297
23
Just reviving this thread to see if anyone's signed up for the Cartier Red Card lately. How does the application work? Do you ask for a certain limit or do they set one for you? Most of their products are at least 10k so is the opening line of credit around this? I ask because store cards don't usually start at 10k (even for those with perfect credit and an income in "the 1%") but Cartier isn't exactly Banana Republic ;) In my experience, store cards give a puny limit and dramatically adjust upwards as you spend more.

I don't really want I bother with this card and have no problem with paying outright for the purchase but if they really do offer 12mo 0% that's not too shabby. Is it really too good to be true that it's 12 mo @0%? Are there hidden fees or service charges associated with this card? Are there additional benefits? I read that there's 10% a purchase of 5k or more but not sure how accurate this is. I had called the 800 number and there don't appear to be any useful benefits in 2014 (No discount?) but I don't know how accurate the CS rep was - she sounded completely clueless. TIA!
 
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lizz66

Member
Oct 15, 2006
509
0
Personally, if you have good credit and are able to pay off your bills, I would highly recommend using a different card that gets points. Just from buying my love, I got a free round trip flight. To Europe or SA. The red card does neither with the exception of interest free for a year which just encourages impulse purchases I think