They usually come with a high interest rate (APR), which tend to work against you (you'll probably pay more in interest than you save at the store). The offers of extended warranties, discounts, and customer services also usually aren’t worth the higher interest and fees. An exception: If you're unable to get a major credit card from anywhere else, having a retail store card is one way you can establish credit.
Nestperts: Boyce Watkins, PhD, finance professor at Syracuse University and author of Financial Lovemaking 101; Gene Fitzpatrick, V.P. of lending for Numerica Credit Union; and Dmitry Lev, Esq., a bankruptcy and tax attorney in Boston