![]() ![]() Promptly tell the cashier, "Thanks, but no thanks".īut if you're diligent about paying your credit cards on time and in full every month, retail cards can help you save a buck. So if you typically carry a credit card balance, it's not smart to load up on retailer cards. That 5% spread can translate into lots of needlessly spent money. The average retailer card APR is roughly 20%-plus compared to the average traditional credit card APR of 15%. In the land of plastic Retail store credit cards typically come with low credit limits and high APRs compared to traditional credit cards. Let's take a look at when it makes sense and when it doesn't. But when you get to the register and the cashier asks if you'd like to open a store credit card for instant savings on your pile of goodies, should you say yes? That depends. At some point in the coming month, you might find yourself wheeling a shopping cart teetering on the edge of collapse like a Jenga game. Follow Black Friday and Cyber Monday behind us, we're officially in the midst of the holiday shopping season. She welcomes you to follow her on Twitter. Nicole holds an MBA from the University of the Pacific and a chemical engineering degree from Purdue University. She's worked as a financial advisor and planner for over a decade. Nicole is a contributing writer for The Motley Fool. ![]()
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