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    Watch Out For Credit Cards Issued By Retailers

    You’re checking out at a store, and the cashier says, “You could save 15% today if you sign up for our credit card.” What do you do? “Say no, thanks,” says CreditCards.com senior industry analyst Matt Schulz.

    Credit cards offered by retailers come saddled with an average APR of 23.23%, according to a CreditCards.com report out today. That’s more than twice the national average of low-interest-rate cards, 10.37%. And it’s 8 percentage points higher than the national average for all credit cards, 15.03%.

    CreditCards.com surveyed 36 retailers from the National Retail Federation’s Top 100 Retailers of 2014, and the retail card with the highest rate was jeweler Zales, at 28.99%, followed by Staples and Office Depot, at 27.99%.

    Interest rates are something people rushing through a checkout counter might not stop to consider, but they should.

    “Anytime that you’re making a decision without taking the time to read through the contracts and terms of service, it’s not (a good idea),” Schulz says. “It’s always best when you’re offered one of these cards to take a step back and think about it.”

    He recommends that shoppers…

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