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The Scoop on Store Credit Cards

Written by Blake Teen on February 22, 2011.

Heck yeah I want to save 15% on my purchase! But do I want to sign up for another store credit card on the fly? If you shop anywhere—ever—you’ve probably wondered the same thing. Before you fill out that form, here are a few things to consider:

  • Store cards tend to come with high interest rates. In fact, interest rates for store cards can average as high as 28.99%, versus 14.58% for regular credit cards according to a 2010 report from Congressman Anthony D. Weiner.
  • Having too many cards can lower your credit score. If you have a bunch of open accounts that you don’t use, it can lower your credit score. Ditto with closing unused accounts. So if y

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