Consumer Tips for Fiscal Fitness: Are store credit cards worth it?

While store credit cards might seem like a safe option compared to general-use credit cards, the truth is they can get cardholders into serious debt if not used responsibly. However, if used correctly, they can save money on both big-ticket items and smaller everyday things. If you’re thinking about opening a store credit card, below are some perks and pitfalls to consider when deciding if it’s the right decision for you and your finances.

Perk: Store credit card qualification is easier

The application requirements, such as your credit score, are less strict with store credit cards compared to regular credit cards so there is a better chance you’ll be approved.