In today’s day and age, it seems as if every store offers their own credit card. This is a way for them to make money, and for consumers to feel wanted. The question is: are store credit cards a good idea? This can be difficult to answer, but at some point you will probably have to address the question.

Why are store credit cards a good idea? For one, most stores will give you a large discount for opening a new account. For instance, 15 percent off your entire first purchase. If you are going to be spending a lot of money and don’t yet have a store credit card, this may be worth it.

Another benefit is that you will receive special offers and coupons when you carry a credit card from a specific store.

On the downside, a store credit card works the same way as a more traditional one. You charge purchases and receive a bill. If you pay in full you never have to worry about finance charges. But if you carry over a balance you will be hit with interest. And in most cases, store credit cards come with a high APR.

Finally, you may be more tempted to spend a lot of money if you have access to a store credit card instead of just cash. Do you trust yourself with a high credit limit?

As you can see, there are both pros and cons of carrying a store credit card. What you decide on is up to you. Just make sure you consider both the good and bad before making a decision.

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