Are Store Credit Cards Expensive?
The Miami Herald describes the Cons of having store credit cards in their article “Store credit cards are not your friends”. You can read the article at http://www.miami.com/mld/miamiherald/business/personal_finance/16151792.htm
To summarize, the author talks about people who get enticed by discounts in the holiday season and end up buying more. Many of these people do not off their credit card bills in January and end up in debt. He says that credit cards offered by retailers typically carry a high interest rate — 20 percent or higher.
Further the author justifies that there is always a catch in the holiday offers that most retailers offer.
Worth a read…
