Store credit cards may seem tempting with their discounts, but they often come with high interest rates, limited rewards, and less attractive welcome offers compared to general rewards credit cards. Many consumers feel pressured at checkout to sign up for these cards, often lured by a small discount on their purchases. However, the reality is that the average APR for store credit cards can exceed 30%, leading to potential debt traps for those who carry a balance. Additionally, the rewards from these cards are typically restricted to one store, making them less versatile than general rewards cards, which offer cash back or points that can be redeemed across various retailers and for travel. For those looking to maximize their financial benefits, opting for a general rewards credit card is a smarter choice, allowing for greater flexibility and better earning potential on everyday purchases.
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