5 Things You Need to Know About Store Credit Cards



By Geoff Williams

It’s a question every shopper has had to ask themselves: Do I want to apply for a store credit card?

If you don’t ask yourself that question, the associates at the register will. If you aren’t ready with a standard, “no thanks,” you may say “yes,” or waffle about it for a moment.

So what should you say? “No” every time? “Yes,” if it seems like a great deal? Consider your answer carefully and remember the following.

It’s easy to damage your credit with store credit cards. The reason you should be cautious about opening up these accounts is that the credit limits are generally low, says John Ganotis, co-founder of Credit Card Insider, a credit card comparison and information site.

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