Is the cost of your credit card too high?

By Lea Wilson - Digital News Editor

How much are you paying for your credit card? Whatever it is, how would you like to pay 30% percent in interest charges? It may sound impossible, like something out of a mobster movie but  it’s not.

At a time when the average interest rate on a credit card in this country is around 15%, has completed a study of 60 different store credit cards and found that these store credit cards, which are supposed to boost customer loyalty and bring the consumer back again and again, actually have some of the highest interest rates you can find.

“We were really amazed at how high the rates are for these cards, they are far and away higher than your typical bank credit card”, says Matt Schulz, Senior Analystsenior analyst for

According to, the top 4 worst store credit cards when it comes to high interest rates are as follows.

Number Four: The T.J. Maxx Credit Card
It has an interest rate of 27.24%.

Number Three: The Justice Credit Card
The interest rate is also 27.24%.

Number Two: The Staples Credit Card
It has an interest rate of 28.24%.

Number One: The Zale’sZales Credit Card
It has an interest rate of 29.24%. A rate just shy of 30%.

Schulz says these cards are so expensive in terms of financing because, “they“They are very easy to get, so you have a large audience of people who will apply for them and get them”." He goes on to say,  “Part of why these store credit cards have such high interest rates is because they are a little risky for stores.  You have a wide range of people who apply for them, so you might have people with very good credit, but also people with not so good credit, and these stores have to protect themselves.”

What are the best deals in store credit cards when it comes to interest rates?

The Dillard’s Card comes in at number one with a rate that ranges from as little as 9.99% all the way to 24.99%.

The Nordstrom Card offers between 10.99% and 22.99%.

The Williams Sonoma Card has rates ranging from 13.99% TO 21.99%.

For more information about all kinds of credit cards, their rates and yearly fees, head to

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