Should You Open a Store Credit Card on Black Friday?

Opening Store Credit Cards While Black Friday shopping
Opening Store Credit Cards While Black Friday shopping

Anyone who plans to get caught up in the Black Friday shopping madness this year can expect to be asked (perhaps more than once) whether they'd like to open a store credit card. Typically, store credit cards can be terribly tempting, with promises of discounts of 10% to 15% on the first purchase and other bonuses. But, on Black Friday, the savings seduction is even more irresistable.

Retailers may bump up the initial savings offer or sweeten the deal in other ways, says John Ulzheimer, founder of "You're going to be hit up very aggressively for in-store retail cards, and we're even seeing 20% off in some places," he says. However, Ulzheimer adds, "It's a very enticing offer, but the downside is pretty significant."

In other words, when it comes to opening a store card, shoppers inevitably pay a hefty price for discount at checkout.