VIDEO: How Do You Feel About Store Credit Cards?
A new study finds that store credit cards are even worse than we thought — so we discuss if there are any benefits to them.
Published
Are store credit cards the worst thing since un-sliced bread? You probably assume they are, while, at the same time, being mildly attracted to the "10% off now!!!" offers they dangle in front of you. A new report from CreditCards.com reveals how truly terrible they are. On average, store-based credit cards hold a 23.23% APR. That means you'll get hit with a $23 interest fee for every $100 you put on the card!
In this brief — yet lively — video, our experts discuss if there are any benefits to signing up for a store credit card.
What about you, readers? Tell us what you think about retail store credit cards, in the comments below.
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DealNews Contributing Writer
Dan Leadbetter was a Staff and Features Writer for DealNews. He enjoys comedy, playing drums, watching horror films, fine cigars, and Absinthe.
DealNews may be compensated by companies mentioned in this article.
Please note that, although prices sometimes fluctuate or expire
unexpectedly, all products and deals mentioned in this feature were
available at the lowest total price we could find at the time of
publication (unless otherwise specified).
You are all, of course, correct: There are ways to make it work in your favor ... IF you are a diligent and smart consumer (like all DealNews readers are!)
There's something to the fact, though, that if you're impulsive enough to sign up for a store credit card right on the spot, you might not be thinking about long-term financial strategies.