If you must use them at all, that is.
Store credit cards are much more detrimental to your credit score than the typical credit card. After all, 10% of your score is determined by the type of credit that you have. The credit bureaus don’t like retail cards. A regular credit card is much more beneficial than a revolving charge card from a department store.
But also, it turns out that the typical retail store card has a significantly higher interest rate than a regular card. In fact, a study released Sunday by U.S. Rep Anthony Weiner (D-NY) that reviewed 35 major retail websites found that the typical rate on a store credit card is about 24%.
The annual interest rate on a traditional credit card is less than 15%/
Something to consider as the shopping season begins.
