In this economy one of the best ways to save money is through Thrift Store Arbitrage. What is thrift store arbitrage, you may ask? That is, when you purchase something at a major department store and then turn around and sell it somewhere else for cheaper. That item now becomes your asset and you can often make quite a profit on that sale. Just imagine, you no longer have to pay the outrageous prices of those top of the line designer dresses because you could instead purchase the whole thing second hand from an online retail outlet.
Why wouldn’t you want to take advantage of retail arbitrage? You are getting the best deals, you are saving money, and you are reaping all the rewards without even having to leave your home! It’s an awesome way to get the items you love for really low prices. So how do you go about applying for this wonderful opportunity? Here are some great tips to help you with your Thrift Store Arbitrage application.
The first step is you need to open a new checking account. You do not need to have a current checking account. You will be required to show proof of identity and savings in order to open the account. Many thrift stores prefer to see a current bank statement for you as well as either a recent pay stub or a voided check if you have not been keeping up with your payments recently.
Next you are going to need to fill out the application. Thrift store applicants must fill out an application completely filled out and signed by the applicant. If there is any information that needs to be changed please contact the thrift store where you are applying and have them update your application accordingly. They cannot accept any incomplete application so make sure that you double check everything before submitting it.
Once you submit your application to the thrift store, they will begin the verification process. For this they will pull your credit report to verify if all of the information on the report is correct. Only errors that have been reported to them by a creditor or creditors are included in the report. This is the only part of the application that will be verified. After this step has been completed, you will officially be considered a retail arbitrage cardholder and your card will be issued.
If you wish, you can then apply for multiple cards. Each card carries a different minimum purchase amount, and each card has a different interest rate. The rates are usually lower than the rates offered on the traditional credit cards. So having more than one card will increase your chances of getting offers to buy merchandise at a discount.
Thrift store cards are great if you have no credit or are still building your credit. Many people use these cards to build credit and rebuild their finances. In fact, many retailers will loan you money for any purpose including the purchase of products at their store. This means you are not buying anything when you use a thrift store credit card. The money you save on merchandise sales will eventually pay off the loan.
The savings at these stores are incredible. There is no reason not to take advantage of them. These cards do not carry annual fees and there is no membership fee. This makes them a great place to start with no strings attached. You will likely find that the savings will pay back the cost of the initial card fairly quickly.