Ryan P Page, Staff Writer
@ryan_page
No, it is not better to have store credit cards because they aren’t accepted at every store and tend to carry higher APRs than traditional credit cards. Store cards can only be used with a specific retailer or group of affiliated companies, while regular credit cards can be used pretty much anywhere.
While store cards don’t replace the earning potential of the top rewards credit cards, they can be a great way to supplement or expand your savings when shopping at a specific store. As a result, it’s better to have a store credit card than it is not to have one, but you should probably get a regular credit card first.
Pros and Cons of Store Credit Cards
| Pros of a Store Card | Cons of a Store Card |
| $0 annual fees | Higher average APR (33.09%) than traditional credit cards (22.76%) |
| May provide discounts and rewards | Can only be used at select locations |
| Only requires a fair credit score for approval | Only 23% offer ongoing rewards |
If you do get a store card, be sure to check out WalletHub's guide on store card mistakes you should avoid for more information on potential pitfalls and the best practices for using a store credit card.
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