Retail credit cards come with some excellent benefits, including a generous time frame to pay, zero interest and store discounts. To help you learn more about the promotions and rates available for these credit cards, GOBankingRates provides resources you can use to educate yourself in no time.
Retail credit cards make great first credit cards because they’re easy to get and can help you build credit before you move on and get a rewards or travel credit card. But like any credit card, it can be easy to rack up debt with a retail card, particularly if you’re easily enticed by sales. These cards also tend to have higher interest rates, which can be costly if you don’t pay off your balance each month.
A sound approach to using retail credit cards is to charge only what you can afford to pay off monthly. In addition, be on the lookout for any incentives that stores market specifically toward credit card owners, because this can help you reap significant discounts.