Shopping Tips That Add Up
1. Be smart about how you use credit cards.
Know all of the terms and conditions that apply – particularly interest rates and fees. Don’t use credit cards to buy what you can’t afford – and pay off the balance in full each month. * For more money-saving tips, visit DCA’s Office of Financial Empowerment (OFE)
2. Use caution when shopping over the Internet.
You should never give out your social security number, mother’s maiden name or date of birth for any purchase.
3. Check and save your receipts.
For purchases greater than $20, stores must give you a receipt. For purchases between $5 and $19.99, stores must provide a receipt upon request.
4. Do your research before buying electronics.
Retailers selling electronics in NYC (computers, wireless products, video/photo/audio equipment and more) must be licensed by DCA, so don’t trust your purchase to an unlicensed store. Read consumer guides and check the ratings on the product before making an expensive purchase. Know your warranty rights – keep your receipts and ask to see a manufacturer’s registration number (proof that the store is a registered dealer of the manufacturer’s products).
5. Look for the store’s posted refund policy.
By law, stores are free to determine their own refund policy, but they must make you aware of it before your purchase by posting it at the cash register, store entrance, or some other prominent place. If there is no policy posted, you are entitled to a full refund within 20 days.
