Report: store-brand credit cards aren't worth it when carrying a - KWWL - Eastern Iowa Breaking News, Weather, Closings

Report: store-brand credit cards aren't worth it when carrying a balance

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(KWWL) -

Before applying for a store-branded credit card, it might be wise to think twice if you regularly carry a balance on your account.

A new report released this week from creditcards.com finds that the trendy retailers' cards charge an average interest rate of over 23 percent.

The national average for all cards sits around 15 percent.

Retailers often try to tempt consumers with discounts on specialized cards, but the study suggests that the included perks usually don't pay off unless the card is paid off in full every month.

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