Signing Up For Retailer Credit Cards
"Would you like to save 15 percent today by opening a credit card account with us?"
Like the moment in a horror movie when the lady runs back into the house where the killer lurks, listen to the voices shouting, "Don't do it!" It's tempting to give into this "offer" when you're on that shopper's high and making a big purchase, but it's probably best to decline, especially if you only occasionally shop at that store, because the high interest rates mean that any discounts will not prove worthwhile in the end.
According to a survey by CreditCards.com, "The average APR on America's largest retailer credit cards has risen to 23.84 percent and only half of the cards offer a sign-up rewards deal or purchase discount. Retailer cards remain valuable to people seeking to build or rebuild credit, but those with good credit can find better deals."