More Than Half Of Store Credit Cardholders Believe They Are Necessary For Holiday Shopping

MoneyTips

It's time to flex your credit-card-swiping muscles to prepare for the holidays – but what type of credit card will you be swiping? Will it be a general-use credit card, or a store credit card designed to maximize rewards with one merchant?

A new LendEDU.com survey provides insight into store credit cards and their holiday use. During the holidays, retailers increase pitches for their store card, including bonuses and perks – and many consumers take retailers up on the offers. Almost half of respondents (47.6%) signed up for a store card, thanks to a successful sales pitch at the register.

Over two-thirds of store credit cardholders (67.7%) have two or more store cards, and just under half (48.8%) of respondents plan to apply for another store credit card over the next twelve months. That makes sense, given that over half of respondents (53.1%) consider a store credit card necessary to meet holiday expenses.

What attracts us to store credit cards? Almost...

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