There may be some perks with a particular store card which are tempting-occasional discounts and rewards points. However, in the grand scheme of your credit history, the drawbacks of store credit cards generally aren’t worth the short-term savings. Interest costs would completely negate the discount you received on your initial purchase if it takes you several month to pay off your balance. There are a handful of cards, like the GAP card, that can be used in a family of stores, but usage is still very limited. If you’re not disciplined with your credit card charges, you could easily find yourself with an uncontrollable balance. Follow the rules of charging only what you can afford and of keeping your balance below 30 percent of the credit limit, no matter how high your credit limit rises. Think about any major financial decision, especially opening a new account. With retail credit cards, you’re not always given that opportunity.
