This post is April Dykman staff writer.
When I was a freshman at University, I did two very bad things (ahem: two bad things related to personal finance).
The bad news # 1
First, I opened a VISA credit card. Had a guy in a booth in the campus, and being too naive and shy to tell buzz, stopped and listened to their Stadium. The next thing he knew that it was filling out an application. 
To 18 years of age, unemployed, constant income or credit history now had a line of credit of $1,000. I surpassed him out in less than three months and was surprised when it came Bill.
Fortunately, was about to start a part-time job, so I was comforting to know that could handle myself to this predicament. I have paid for balance, but then charged up new. This cycle lasted for years. I always pay more than the minimum, but never paid off the debt.
The bad news # 2
The second thing I did badly was opening a store credit card with a major retailer. I was about to pay for my purchase (with the VISA referred to above, of course), and the seller told me could save money and receive special offers and free items just for signing up for a card. Nodded, but she was persistent. "You can pay as soon as you get home and still get coupons and discounts," he said. "That's what I do."
Unfortunately, not working well for me. I forgot he had opened the card, somehow lost the first draft of law, and then was late with my payments. I was delinquent almost three months before the paid card, and I got a check in my report of credit, all for a small balance that could have easily covered by money in my bank account.
The cost of the store credit cards
Teller machines often have to ask customers to sign up for store credit, and some stores requires it to meet a quota for the new card sign-ups. But these days, politely tell the cashier, "I have not the store credit cards." If they persist, I repeat that I myself. "Do you not want save 10 per cent?" No thanks, I would rather not.
A recent study by the Office of the representative of New York Anthony Weiner provides even more reason to avoid the store card brand. Study found that 35 stores in New York had an average rate of 23.83% on store cards (the national average APR for a regular credit card is 14.78%).What stores offer the worst rates?
Radio Shack was highest with a APR.Best 28.99% buy and Staples charge 27.99% interest rates.Home that accused Depot 25.99%.Sears was a hefty 25.24%.Addition, the report found that you using cards store trafficking in a series of "teaser" to attract buyers to take the bait, such as offering 0% interest, but does not mention that settle the balance within a period of time or otherwise the interest rate is applied retroactively in the initial purchase price.
Are everything is bad?
The mark on my credit report has been left behind, but was a sobering lesson about the dangers of credit, especially for someone with little education personal finance (or income). When I graduated from high school, I could easily find the limit of a function as x approaches a constant, however, did not know about compound interest. My personal finance education began years later, when I started that lurk here in GRS.
I've not been credit card balance in years, and I consider myself a reformed and responsible consumer. I am also not completely for store credit. If you were to remodel a House, for example, perhaps consider card from Home Depot for the initial discount. Then it would cut the card and pay the balance immediately (as in the minute I have House) with cash that was saved in a savings account from the "clean house".
I fully account for the majority of the readers of GRS is experienced with your credit, but as stores ramp up their releases high-pressure holiday, it is important to be on our guard. Generally speaking, these cards not worth the risk or annoyance. The credit is seriously, not something to sign by the heat of the moment without reading the print fine
This article is about credit cards
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