4 Times You Should Never Open a Store Credit Card—and 3 Times You Should

No: You’re not sure about the interest rate

Typically, the interest rates of store credit cards are higher than other credit cards. According to a new poll released by LendEDU—they queried consumers about store-branded credit cards—the takeaways included that 45 percent didn’t know the interest rate on their store-branded cards, and 65 percent regularly carried a balance on their store-branded cards. Here are some more tips about the tricks and traps of credit cards.

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