Before you commit, research those store cards

Before you commit, research those store cards

WSFA/WXIX - The calendar may say September but for retailers, we're well into the holiday shopping season!

Christmas decorations have been out for a while and it seems like store clerks are ratcheting up their push to sign you up for store credit cards. The pitch usually includes some sort of discount on the stuff you're trying to buy that day.

Before you sign up you need to know that store credit cards, on average, have interest rates that are eight percentage points higher than the average credit card. If you're someone who pays off your balance in full every month, that won't matter. But if you're one of the 40 percent of Americans who regularly carries a balance on your credit cards, that interest rate will come into play.

The tip here is to never rush into a decision that involves your credit. So if you have a favorite store, ask for information about the card, then do some research before you commit. You need to know the card's interest rate and how you accumulate points and rewards.

Copyright 2016 WSFA 12 News. All rights reserved. Source: WXIX