Are store credit cards worth signing up for? Here are some tips on how to manage the store credit card issue, compiled by The Associated Press:


Only sign up for store cards that give the best deals or immediate savings. For example, if a customer is buying a $2,000 couch, and can get 10 percent off upon signing up for a card, then he or she should consider the offer, according to Mallory Duncan, senior vice president and general counsel at the National Retail Federation, the retail industry trade group.


Duncan also noted that shoppers should focus on stores that they like and are most loyal to.


Don't sign up for a slew of store credit cards, because the increased line of credit will hurt your credit rating. Consumers are advised to limit the number of store credit cards to one or two during a six- to 12-month period.


At the same time, consumers shouldn't close their lines of credit from store cards either, especially right before applying for a mortgage or a car loan. Credit scores are based in part on your debt-to-credit ratio.


Examine the policies of the card. That means looking at the grace period - from the end of the billing cycle to when the payment is due. You should also look at the default policy - if customers miss one payment, is the interest rate going to climb to 20 percent?


Source: Courier Post Online



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