Avoiding the Store Cards
Right around the giving season, there is a huge influx of store credit card offers. When times are tough, people often jump at the chance to get a little credit to buy those “needed” gifts. But, store credit cards should be thought of as the devils of finance.
These store credit cards hold the highest interest rates of any credit cards out there. Often with rates as high as 30%, the purchase of $100.00 could take you months and months to pay off. Not to mention the fact that each month a 30% rate is added onto the total. Meaning, you could be adding more in interest than you are paying in the monthly payment.