Many retailers offer credit cards that have specific rewards programs for shopping in their stores. These cards offer a few advantages. You can get rewards for making purchases at that retailer using their card. These cards are also often easier to get approved for, so you can get a credit card even if you have a low credit score or no credit history.
However, those benefits are balanced out by higher interest rates and stricter terms for the account. In many cases, high rates and restrictive terms aren’t worth the rewards that you earn in-store. This is especially true if you don’t pay the balance off in full every month.
Be very careful when considering a store credit card. Read the terms of the credit card agreement carefully before you sign up. Make sure you understand the fees, how interest charges apply and what rates you will pay, and terms that may limit how beneficial the card is, such as deferred interest.