Store Credit Cards: Worth It? - CBS46 News

Store Credit Cards: Worth It?

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Those extra discounts they offer along with the card sound mighty tempting, don't they?  But before you take on more credit, keep these things in mind...

 

*The interest rates are usually going to be higher than the typical credit cards.

*Get ready to be slapped with late fees if you forget to pay the bill--and those add up quickly.

*That discount you'll get...well, it's usually only accepted at one chain store [not different ones owned by the same company].

*If you think applying for those new cards will help your credit score.. think again.  Financial experts say it could actually temporarily hinder your score.

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